Veracity Industrial Networks, an Aliso Viejo, CA-based developer of Industrial Software Defined Network (SDN)-based technology for operational networks, raised a seed round of funding of undisclosed amount.
Backers included existing investors Schweitzer Engineering Laboratories (SEL) and Option3Ventures, with new strategic investments from DYNICS, Inc. and Interstates, Inc. As part of their investment, Interstates, Inc. and DYNICS, Inc. will join SEL and Option3Ventures on the Veracity board of directors. Jeff Smith, Chief Technology Officer of DYNICS, and Jerry Steenhoek, Chief Technologist at Interstates, will join the team as Senior Technology Advisors, leading the company’s early “Proof of Concept” (POC) efforts with customers.
The company intends to use the funds to introduce its Industrial Network Controller to their customers in the Automotive, Manufacturing and Process Automation markets.
Led by Paul Myer, Veracity, CEO, Veracity delivers a secure industrial network that provides an on-premises, centralized configuration, control, and monitoring solution that tracks all connected devices and their communications. The platform moves beyond the detection and alerting of cyber events into a resilient network that reduces the attack surface by design. The company will offer the software 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.
FinSMEs
02/07/2020