Industrial Cybersecurity SKey Takeaways:
– Josh Steinman, former director at the National Security Council, founds Galvanick, an industrial cybersecurity startup.
– Galvanick aids manufacturers in the aerospace and telecom sectors to help monitor potential security breaches.
– Ransomware attacks against industrial companies increased by approximately 50% last year.
– The Seattle-based startup recently completed a $10 million seed round backed by prominent venture capital companies.
On Guard Against Digital Attacks
Emerging from his tenure as a senior director inside the National Security Council at the White House, Josh Steinman identified a notable vulnerability. This threat was directed towards industrial operations, which were ascending digital landscapes, hence becoming prime targets for cyberattacks. Now, Steinman is at the helm of Galvanick, an industrial cybersecurity startup dedicated to tackling this looming menace.
A Modern Solution to Modern Threats
In particular, Galvanick serves manufacturers in the aerospace and telecom industry. Their clients are companies in urgent need of monitoring solutions that guard against the ever-increasing risk of digital breaches. Founded in 2021 by Steinman, a former U.S. Navy officer, Galvanick boasts a robust team with impressive antecedents. Co-founders include Brandon Park, previously a security engineer for industrial control systems at Amazon, and Feliks Pleszczynski, a former deputy chief economist for the U.S. Department of Labor.
A Strategic Footprint
In an attempt to strengthen its foothold, Galvanick recently cut the ribbon on a new office in Seattle. Steered by Park, the office is conveniently located in close proximity to Amazon’s headquarters. Steinman and Pleszczynski, on the other hand, operate from Los Angeles, where Galvanick also has an office. This 10-person team operates from two potent locations strengthening the company’s footprint.
The Rising Threat Landscape
Ransomware attacks are a modern-day scourge with attacks against industrial companies reaching a worrying high. Last year saw nearly a 50% spike, according to a report by The Wall Street Journal citing information from Dragos. This ever-increasing threat prompted the formation of Galvanick, which specializes in mitigating these risks.
Innovation in Protection
Galvanick’s unique software analyzes data used within an industrial operation, alerting personnel of any abnormal activity. Steinman likened the startup to a ‘digital overwatch’ for large, connected facilities. Meanwhile, it’s becoming increasingly harder to find qualified cybersecurity professionals specializing in industrial scenarios. This current deficit, though alarming, provides a conducive environment for Galvanick’s growth.
Promising Funding Despite Decreasing Investment
Despite waning venture capital investment into cybersecurity startups last year, Galvanick managed to generate investor interest. They secured a hefty $10 million seed round last June with an array of esteemed backers. MaC Venture Capital, Founders Fund, Village Global, Countdown Capital, Hanover Technology Investment Management, Shrug Capital, and 8090 Industries all joined in the financing round.
The Future of Cybersecurity
While AI holds massive potential for combating threats, Steinman admits that there is still a long way to go. With very little margin for error, many industrial companies are not yet ready to fully embrace AI. However, Steinman remains optimistic and believes that, with the required scrutiny, AI might soon become the industry standard.
