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Photo: Education Images/UIG via Getty Images

Indegy, a cybersecurity company that focuses on industrial controls systems, has raised $18 million in a Series B fundraising round let by Liberty Technology Venture Capital, a subsidiary of Liberty Media. It also announced new executives are joining its management team.

Why it matters: Hackers have long targeted industrial control systems as ways to wreak havoc in other countries — like the massive 2015 electrical outage in Ukraine that Russia activated. This added investment shows investors recognize the pressure is on to secure critical infrastructure.

The details: Centrica plc, which provides energy and services to more than 25 million accounts in the U.K., Ireland, and North America, invested in this round as well. O.G. Tech Ventures also made an investment, as did existing investors Shlomo Kramer, Magma Venture Partners, Vertex Ventures, and Aspect Ventures.

  • The funds will be used to focus on go-to market initiatives.
  • Trading places: Joe Scotto from BAE Systems and Todd Warwick from Imperva are joining as Chief Marketing Officer and Vice President of Sales for the Americas, respectively.

How it works: Indegy aims to help protect industrial control system networks — including manufacturing, energy, water, pharmaceuticals, and other critical infrastructures — from cyber attacks as well as insider threats by providing network and device anomaly detection and mitigation.

Reality check: Why "crashing the grid" doesn't keep cyber experts up at night

Go deeper

27 mins ago - Health

Bay Area counties to enact stay-at-home order ahead of state mandate

Golden Gate Park. Photo: Justin Sullivan via Getty

Counties around the San Francisco Bay Area will adopt California’s new regional stay-at-home order amid surges in cases and ICU hospitalizations, health officials said Friday.

The big picture: California Gov. Gavin Newsom announced a three-week stay-at-home order on Thursday that would go into effect in regions with less than 15% ICU capacity. Despite the Bay Area’s current 25.3% ICU capacity, health officials from Alameda, Contra Costa, Marin, Santa Clara, San Francisco and the city of Berkeley are moving ahead with a shelter-in-place mandate in the hopes of reducing risk.

1 hour ago - Podcasts

Former FDA chief Rob Califf on the vaccine approval process

The U.S. Food and Drug Administration (FDA) is reviewing two emergency use authorization requests for COVID-19 vaccines, with an outside advisory committee scheduled to meet next Thursday to review data from Pfizer and its German partner BioNTech.

Axios Re:Cap digs in with former FDA commissioner Rob Calif about the EUA process, the science and who should make the final call.

The recovery needs rocket fuel

Data: BLS. Chart: Axios Visuals

Friday's deeply disappointing jobs report should light a fire under Congress, which has dithered despite signs the economy is struggling to kick back into gear.

Driving the news: President-elect Biden said Friday afternoon in Wilmington that he supports another round of $1,200 checks.