IoT Security Provider Claroty Raises $400M, Acquires Medigate

Claroty, an industrial cybersecurity company that specializes in eXtended Internet of Things (XIoT) solutions, has added $400 million in a Series E funding round. Claroty has announced plans to acquire healthcare IoT security company Medigate. Financial terms of the acquisition were not disclosed.

This is technology M&A deal number 765 that MSSP Alert and sister site ChannelE2E have covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.

A Closer Look at Medigate

Medigate provides a device security platform for healthcare organizations, the company indicated. This platform discovers and profiles connected devices, analyzes their risks and automates responses to help these organizations remain safe and operate efficiently.

Furthermore, Medigate offers security risk management assessment, architecture, design and integration services, the company noted. These services help healthcare organizations protect their networks against cyberattacks and drive digital transformation.

Medigate also offers a channel partner program to help technology distributors and systems integrators incorporate healthcare cybersecurity solutions into their portfolios. Accenture and Optiv are two of the MSSPs to join this program; both are Top 250 MSSPs.

Meanwhile, Claroty has partnerships with such MSSPs and IT security consultancies as Deloitte, KPMG, Kudelski Security and NTT.