Galvanick, a solution renowned for protecting industrial infrastructure from cyber threats, has proudly announced a significant financial milestone in its journey.
The company has secured a seed funding round of $10m, in an effort to strengthen its services and reach in the cybersecurity landscape.
The substantial $10m funding round saw participation from several notable investors, including MaC Venture Capital, Founders Fund, Village Global, Countdown Capital, Hanover Technology Investment Management, Shrug Capital, 8090 Industries, and more than 25 angel investors with specialisation in cybersecurity, manufacturing, finance, and defence.
The core function of Galvanick is to fortify the cybersecurity of industrial infrastructure. In a world that has witnessed a significant shift from manually-operated to computer-operated equipment over the past thirty years, such services are crucial. The vulnerabilities of industrial systems, now increasingly targeted by cyber attacks, can result in dire consequences such as compromising drug manufacturing processes, disabling safety systems at oil refineries, or causing large-scale spoilage in the food industry.
With the fresh capital in place, Galvanick plans to bolster its workforce by hiring additional key talents, and aims to expand the usage of its initial product – an industrial-first Extended Detection & Response (XDR) platform – to further advanced manufacturing and critical infrastructure facilities.
Galvanick was founded by a team of industry veterans, which includes co-founder Joshua Steinman, the ex-military and former Senior Director for Cyber on the National Security Council who masterminded the 2018 National Cyber Strategy, and co-founders Brandon Park and Feliks Pleszczynski, who possess rich experiences in Amazon’s global industrial cybersecurity program and as a former trader, economist, and White House staffer respectively.
Galvanick CEO and co-founder Joshua Steinman said, “Cyber attacks against industrial systems are on the rise, and they not only affect a firm’s bottom line, but can pose a physical hazard to facilities and employees. Hiring industrial cybersecurity specialists is hard; the Galvanick platform was built with industrial systems in mind, and enables your existing team to watch over these critical environments while preserving uptime and reliability.”
Currently, industrial cybersecurity spending is estimated to be at $20bn per year and is predicted to keep growing. As more machinery gets connected to networks, the potential points of failure drastically increase. Galvanick’s mission is to mitigate these risks to industrial systems and networks, with an aim to set a new gold-standard of cybersecurity.
Red Flag Alert, a credit risk data and risk intelligence firm based in Manchester, recently bagged £4.5m in funding.
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