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Galvanick Fuels Development of Industrial Cybersecurity Offering with $10M in Seed Funding

By Greg Tavarez
June 09, 2023

The integration of computer-operated equipment in industrial enterprises brought efficiency gains over the past 30 years. However, this advancement also introduced a new and alarming challenge: the rise of cyberattacks on industrial systems.

This means that sectors such as pharmaceuticals, oil refineries, and food processing are at risk. Attacks can compromise drug manufacturing, disrupt safety systems and spoil products, resulting in financial losses.

To address this, robust cybersecurity measures, industry collaboration and regulatory frameworks are crucial to protect critical infrastructure, public safety and economic stability in the digitized world. Galvanick is aiding this effort with its XDR platform for industrial operators and a recent $10 million seed round. With the seed round Galvanick plans to make additional core hires and expand use of its initial product to additional advanced manufacturing and critical infrastructure facilities.

“Cyberattacks 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,” said Joshua Steinman, co-founder and CEO, Galvanick. “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.”

Galvanick was built by a team of industry veterans that included Steinman, Co-Founder Brandon Park and Feliks Pleszczynski with the engineering team at Galvanick hailing from Amazon, Google, Uber and Bechtel. The founding team spent six months interviewing experts worldwide to understand why securing industrial systems against cyberattacks was challenging. It came down to two key insights industrial cybersecurity talent being expensive to hire and disparate industrial data streams being nearly impossible to analyze in real time.

Galvanick's XDR platform overcomes those challenges as it can aggregate data from industrial assets and environments and continuously monitor for threats. This enables operations and IT/security teams to quickly understand the difference between, and context around, normal and malicious behavior.

The Galvanick platform enables industrial companies to continuously monitor complex infrastructure against cyberattacks without hiring expensive security teams, by synthesizing information from across an industrial environment, correlating it and then providing actionable insights to operations, IT and security teams in near-real-time.

“Galvanick is building on years of open source technology development and cybersecurity research,” said Mike Palank, general partner at MaC Venture Capital.

Major investors in the seed round included MaC Venture Capital, Founders Fund, Village Global, Countdown Capital, Hanover Technology Investment Management, Shrug Capital and 8090 Industries.

Edited by Greg Tavarez
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SmartCity Editor

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