Veracity Industrial Networks Announces New Investors and Focus on Industrial IoT Cybersecurity for Manufacturing Networks
New Seed Round of Funding Spurs Growth and Innovation for Company
ALISO VIEJO, Calif., June 30, 2020 /PRNewswire-PRWeb/ -- Veracity Industrial Networks, a developer of Industrial Software Defined Network (SDN)-based technology for operational networks, today announced a new seed round of funding, backed by existing investors Schweitzer Engineering Laboratories (SEL) and Option3Ventures, with new strategic investments from DYNICS, Inc. and Interstates, Inc.
DYNICS, Inc., and Interstates, Inc. are joining SEL, and Option3Ventures in Veracity's seed round to introduce the Veracity Industrial Network Controller to their customers in the Automotive, Manufacturing and Process Automation markets. Industrial control systems are increasingly vulnerable to cyber-attack, and manufacturing companies are looking to their suppliers and integration partners to strengthen their control system's network defenses. As part of their investment, Interstates, Inc. and DYNICS, Inc. will join SEL and Option3Ventures on the Veracity board of directors.
Veracity's software will be offered as a complimentary platform to the DYNICS ICS-Defender industrial control system (ICS) security appliance, joining the SEL 2740 substation-hardened Industrial SDN switch, to provide a comprehensive ICS network security and reliability solution. DYNICS and Interstates will integrate and deliver the combined offerings to their customers in North America.
"We are so pleased to have DYNICS and Interstates on the Veracity Team" said Paul Myer, Veracity CEO. "This partnership will greatly enhance our ability to provide a security solution to meet the needs of the Automotive, Manufacturing, and Process Automation markets."
Jeff Smith, Chief Technology Officer of DYNICS, and Jerry Steenhoek, Chief Technologist at Interstates will join the Veracity team as Senior Technology Advisors, leading Veracity's early "Proof of Concept" (POC) efforts with customers. Both Jeff and Jerry bring significant expertise and experience with the development and integration of hardware and software network security tools for the manufacturing and process automation marketplaces.
The combined DYNICS/Veracity solution is available for evaluation and proof of concept testing immediately, and will be released for pilot projects in the second quarter of 2020. To express interest in evaluating Veracity's capabilities, please visit https://veracity.io/get-started/.
About Veracity Industrial Networks
Veracity delivers a resilient, secure industrial network that provides an on-premises, centralized configuration, control, and monitoring solution that tracks all connected devices and their communications. The Veracity platform is an award-winning, secure-by-default network that moves beyond the detection and alerting of cyber events into a resilient network that reduces the attack surface by design. The Veracity Industrial SDN® network massively reduces the complexity of the network by repurposing the switch infrastructure to ensure communication between devices is determined by the system's design. Veracity provides an innovative and comprehensive platform for critical networks that enables your business mission. For more information, visit http://www.veracity.io or follow us on Twitter @veracityio.
About Option3Ventures
Option3Ventures is a leading cybersecurity investment specialist made up of professionals drawn from both the national security community and the investment industry. It focuses on those companies at the very frontiers the of the cybersecurity sector, offering solutions to problems that existing technologies cannot address. Over the past five years, O3V has built a track record of venture investing in a select group of category leaders, and is now raising its first dedicated cyber venture capital fund, Option 3 Cyber Investments. O3V is based in New York and the Washington DC area, and its Board of Advisors range from former Chief Information Officers at such organizations as the Central Intelligence Agency and Department of Defense to the former CIO of Merrill Lynch and former CEO of Lehman Brothers.
About Interstates
Interstates offers electrical construction, electrical engineering, and control systems services. For over fifty years, the company has tackled complex challenges and developed innovative solutions for industrial manufacturing and processing facilities around the world. What started out as a small electric company, has evolved into an organization with over 1000 employees and multiple locations throughout the Midwest. Find more information about Interstates at http://www.interstates.com
About DYNICS
DYNICS traces its beginnings to 1988 with the founding of Ann Arbor Technologies. Established in 1997 DYNICS has 20 years of experience creating quality industrial hardware solutions for the marketplace by designing, building, and servicing our systems from its headquarters in Ann Arbor, Michigan. Our products are proudly MADE IN AMERICA.
SOURCE Veracity Industrial Networks
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