Veracity Industrial Networks announces new seed funding round

Industrial networking cybersecurity company Veracity Industrial Networks, announced a new seed funding round. The round is backed by existing investors Schweitzer Engineering Laboratories  and Option3Ventures, as well as DYNICS, Inc. and Interstates, Inc.

“We are so pleased to have DYNICS and Interstates on the Veracity Team” Paul Myer, Veracity CEO, said in a press release. “This partnership will greatly enhance our ability to provide a security solution to meet the needs of the Automotive, Manufacturing, and Process Automation markets.”

With expertise in industrial networking cybersecurity, Veracity Industrial Networks provides industrial software defined networking-based technology for operational networks. The company’s software will be offered as a complimentary platform to the DYNICS ICS-Defender industrial control system security appliance, alongside the SEL 2740 substation-hardened Industrial SDN switch. DYNICS and Interstates will integrate and deliver these combined offerings to their customers in North America.

As part of the investment Interstates, Inc. and DYNICS, Inc. will also join SEL and Option3Ventures on the Veracity board of directors. Additionally, Jeff Smith, Chief Technology Officer of DYNICS, and Jerry Steenhoek, Chief Technologist at Interstates will join the Veracity team as Senior Technology Advisors.

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.

Rebecca Addison

Industrial Cyber Editor. Rebecca Addison is a former newspaper editor with a decade of experience in the media industry. During her career, she has interviewed world leaders and corporate CEOs, and covered topics ranging from blockchain and CBD to healthcare and education.