IS5 Communications Inc, a Toronto-based provider of cyber-secure industrial platforms, has closed C$22 million financing. The deal was led by Phoenix Contact Innovation Ventures, the venture capital arm of Germany’s Phoenix Contact Group, and joined by U.S. venture capital firm ClearSky and other investors. Representatives of Phoenix and ClearSky have joined the board. Founded in 2012 by President and CEO Clive Dias, iS5Com provides integrated services and solutions, and makes intelligent industrial Ethernet products, for a range of sectors.
MISSISSAUGA, Ontario, Aug. 7, 2018 /PRNewswire/ — iS5Com, an innovative Canadian provider of cyber-secure industrial platforms, today announced it has completed a CDN $22 million round of funding. Phoenix Contact Innovation Ventures GmbH led the round with participation from new investors, existing shareholders and management. Representatives from Phoenix Contact Innovation Ventures and ClearSky have joined iS5Com’s Board of Directors. iS5Com will use the funding to further enhance its revolutionary RAPTOR™ platform which launched earlier this year, and to develop advanced innovative solutions for securing critical infrastructure communications and networks.
Operational Technology (OT) systems that run mission-critical networks have increasingly come under attack. New cyber-security standards designed to protect these OT assets continue to evolve and strengthen. iS5Com’s RAPTOR™ provides users the ability to securely connect and manage their mission critical networks from current and future cyber-security threats.
“This strategic investment round further demonstrates the uniqueness of the RAPTOR™ platform. Modularity, security, and scalability for the future should make RAPTORTM the de facto standard for protecting critical infrastructure,” stated Marcus Böker, Managing Director of Phoenix Contact Innovation Ventures GmbH.
With this round of funding, iS5Com is well-positioned to accelerate its growth and market penetration with very key strategic investors.
“The combination of ClearSky and Phoenix Contact Innovation Ventures will help us accelerate our growth in the various critical infrastructure markets, and will also allow us to target other parts of the industry like edge/fog computing,” said Clive Dias, Founder and CEO of iS5Com. “New communications technologies combining edge and fog computing with OPC UA and TSN will create a powerful functionality in Industrial Automation. iS5Com and the RAPTORTM platform are well positioned to provide new innovative solutions for our target markets and more.”
About PHOENIX CONTACT Innovation Ventures GmbH
PHOENIX CONTACT Innovation Ventures GmbH is the global corporate venture capital company of the PHOENIX CONTACT Group, a global manufacturer and supplier of components and systems for electrical connection and industrial automation technology. The venture capital company invests in startups with business models that are related to electrical connection technology, industrial digitization, automation and control technology, and associated markets.
ClearSky is a venture capital/growth equity firm that has been operating since 2012 with offices in Florida, New York, Boston and San Francisco. ClearSky is currently investing through two funds: ClearSky Power & Technology and ClearSky Security. ClearSky Power & Technology invests in innovative companies providing technology and services to enterprise customers, with a special focus on the power sector. ClearSky Security invests in companies that offer transformative solutions for cyber-security, industrial security and critical infrastructure security.
About iS5 Communications Inc.
iS5Com is a global provider of integrated services, solutions, and a manufacturer of Intelligent Cyber-Security Industrial Communications Platforms. Our products are designed to meet the stringent demand requirements to protect the critical infrastructure communications of utility sub-stations, roadside transportation, rail, and industrial applications. iS5Com’s services and products are key enablers for advanced technology implementation such as the Smart Grid, Intelligent Transportation Systems, Intelligent Oil Field, and Internet of Things. All products have the ability to transmit data efficiently without the loss of any packets under harsh environments and EMI conditions. iS5Com is headquartered in Mississauga, Ontario, Canada.
iS5Com was assisted in this process by Amar Senan and Jon Thomas, Silicon Valley-based investment bankers from Woodside Capital Partners. http://www.woodsidecap.com