Industrial cybersecurity company Dragos has raised a record-breaking $200 million in Series D funding at a valuation of $1.7 billion. This marks the largest funding round and the highest valuation achieved by an OT cybersecurity company, providing further validation for the demand for OT cybersecurity.

The funding will continue to accelerate the company’s global expansion and support customers in key growth markets across diverse industries including electric, oil & gas, chemical, pharmaceutical, food and beverage, water, and manufacturing.

The funding round was led by Koch Disruptive Technologies, an investment arm of Koch Industries, and funds and accounts managed by BlackRock, a leading global asset manager. Investors include Emerson, Hewlett Packard Enterprise, Allegis Cyber, Canaan, DataTribe, Energy Impact Partners, National Grid Partners, Schweitzer Engineering Labs, Global Reserve Group, and Rockwell Automation.

The Series D funding will accelerate Dragos expansion to make ICS/OT cybersecurity more accessible around the world and will bolster the company’s support for ICS/OT practitioner-oriented events, education, and community networking opportunities in new verticals and regions.