Dragos Acquires xIoT Security Firm Phosphorus

Industrial cybersecurity firm Dragos has acquired xIoT security specialist Phosphorus, a move aimed at strengthening its ability to help organizations secure and manage the growing number of connected devices embedded across critical infrastructure and other operational networks. Phosphorus was founded in 2017 by Chris Rouland (CEO), Earle Ady (CTO), and Rebecca Rouland (CFO). Rouland previously founded Bastille and Endgame. He also stood up the X-Force division at IBM where he was CTO and Distinguished Engineer. The company’s platform enables organizations to identify connected devices, assess exposures, and automate remediation actions at scale. It also has the ability to automate security tasks such as password rotation, firmware updates, certificate management, and remediation across large fleets of connected devices. “With this move we are also planting a bit of a flag that this isn’t about xIOT,” Robert M. Lee, CEO and Co-Founder of Dragos, commented on LinkedIn. “ IT/IoT isn’t extending into OT so much as OT is extending – xOT. It’s about the control loop, the physics, not the operating system.” Dragos said its customers will gain expanded asset visibility and integrated device intelligence in the near term, with automated remediation workflows and a unified platform experience to follow. The companies did not disclose a timeline for full product integration, but said existing customers of both platforms will continue to receive support as the organizations work to bring their technologies together. Sonu Shankar will continue to lead the Phosphorus business as a General Manager within Dragos, through a structured, phased integration. Financial terms of the transaction were not disclosed. Nashville, TN-based Phosphorus had raised approximately $65 million in funding, including a $38 million round in early 2022. 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