Dragos was founded in 2016 by Jon Lavender, Justin Cavinee, and Robert M. Lee. Following a $200 million funding round in 2021, Lee told reporters that "this is the last round we need to be able to go public."
Dragos is a Maryland-based cybersecurity firm. The company specializes in defending the control systems of industrial companies that produce gas, oil, and chemicals, as well as some involved in mining operations and production line management. Lee reports that, as of 2021, Dragos protects 70% of the U.S. electric grid. In 2019, the company acquired NexDefense, another industrial cybersecurity firm. Dragos has raised more than $300 million in venture capital funding from investors including BlackRock, Koch Industries, and Hewlett Packard. The 2021 funding increased the company's valuation to $2 billion.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
10/28/2021 | Series D | $210MM | $xx.xx | $1.69B | Koch Disruptive Technologies, BlackRock, Emerson, Hewlett Packard, Allegis Cyber, Canaan, DataTribe, Energy Impact Partners, National Grid Partners, Schweitzer Engineering Labs, Global Reserve Group, Rockwell Automation | |
Price per Share
$xx.xx
Shares Outstanding
4,729,000
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Koch Disruptive Technologies, BlackRock, Emerson, Hewlett Packard, Allegis Cyber, Canaan, DataTribe, Energy Impact Partners, National Grid Partners, Schweitzer Engineering Labs, Global Reserve Group, Rockwell Automation
|
||||||
12/08/2020 | Series C | $122.8MM | $xx.xx | $423.43MM | National Grid Partners, Koch Disruptive Technologies, Saudi Aramco Energy Ventures, Hewlett Packard Enterprise, Allegis Cyber, Canaan Partners, DataTribe, Energy Impact Partners, Schweitzer Engineering Labs | |
Price per Share
$xx.xx
Shares Outstanding
9,580,080
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
National Grid Partners, Koch Disruptive Technologies, Saudi Aramco Energy Ventures, Hewlett Packard Enterprise, Allegis Cyber, Canaan Partners, DataTribe, Energy Impact Partners, Schweitzer Engineering Labs
|
||||||
11/15/2018 | Series B | $37.5MM | $xx.xx | $149.47MM | Canaan, Emerson, National Grid Partners, Schweitzer Engingeering Labs | |
Price per Share
$xx.xx
Shares Outstanding
5,423,934
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Canaan, Emerson, National Grid Partners, Schweitzer Engingeering Labs
|
||||||
08/14/2017 | Series A | $10.69MM | $xx.xx | $30.96MM | EIP, Allegis Capital, DataTribe | |
Price per Share
$xx.xx
Shares Outstanding
4,466,798
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
EIP, Allegis Capital, DataTribe
|
||||||
08/24/2016 | Series Seed | $1.2MM | $xx.xx | $4MM | DataTribe | |
Price per Share
$xx.xx
Shares Outstanding
2,000,000
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
DataTribe
|