Centrica Invests In Cyber Security Provider, Will Develop New Offerings For Energy Management Customers
August 28, 2018 Email This Story Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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Centrica plc, the ultimate parent of Direct Energy, announced an investment in cyber security provider Indegy as part of a £14m ($18m) funding round.
Indegy specialises in technology that gives businesses visibility and control over their industrial control systems to protect against cyber threats, malicious insiders and human error.
The Indegy solution has been designed to detect anomalies on industrial control systems, using advanced machine-learning technology to analyse and alert users to suspicious activity on their network, Centrica said
The investment has been made by Centrica Innovations, established in 2017 to identify, incubate and accelerate new technologies with the potential to transform the way the world lives, works and moves.
Christophe Defert, Ventures Director for Centrica Innovations, said: "Indegy has developed an impressive suite of products that help protect industrial systems used in a variety of sectors including energy, water, manufacturing and pharmaceuticals. We are looking forward to working with the team as we explore ways to deploy distributed energy resources with the optimal security solution."
The investment has been made in partnership with Centrica Business Solutions, which aims to bring large energy users end-to-end solutions to improve performance and cost management, strengthen resilience, and create opportunities for growth.
Yaniv Vardi, regional director of Centrica Business Solutions said: "Talking to our customers, we know that businesses are taking an increasingly strategic approach to their energy and are looking for ways to improve their resilience against potential issues with their power supply and other external factors such as cyber-crime"
"In an ever more connected world, this investment is an important step forward in the development of new offers for our customers that will build on our existing portfolio of energy management solutions," Vardi said
The $18 million Series B round of financing for Indegy was led by Liberty Technology Venture Capital, a subsidiary of Liberty Media, with participation from Centrica plc, O.G. Tech Ventures and existing investors Shlomo Kramer, Magma Venture Partners, Vertex Ventures and Aspect Ventures.
In conjunction with the financing, Indegy also announced the appointment of two new executives to its management team: Joe Scotto from BAE Systems joins as Chief Marketing Officer and Todd Warwick from Imperva takes over as Vice President of Sales, Americas.
Joe Scotto joins Indegy from BAE Systems, where he served as Vice President, Americas Marketing. Previously, Joe held positions with organizations including KPMG, Avaya and Time Warner, where he led Product and Solutions Marketing for their multi-channel global SMB business.
Todd Warwick joins Indegy from Imperva, a leading global provider of cyber security solutions, where he served as AVP of Sales. He has held sales management positions at Check Point Software and Alcatel-Lucent which was acquired by Nokia in 2016.