Salvador secures $6 million funding to enhance cyber resilience in OT and critical infrastructure sector

Salvador Technologies, an OT/ICS data recovery firm, revealed on Monday that it raised US$6 million in funding. The company’s platform safeguards against downtime-related losses as well as ensures comprehensive operational recovery and uninterrupted continuity within a 30-second timeframe. Spearheaded by Pico Venture Partners, this funding round saw continued support from steadfast investors including Pitango VC and Sarona Partners, underscoring their pivotal role in influencing the company’s trajectory.

The Israeli-based company’s expanding customer base includes multi-national manufacturing corporations in the chemical, food, automotive, and aerospace industries as well as critical infrastructure organizations, such as national maritime ports, healthcare centers, water, and energy providers in multiple geographies.

Salvador Technologies has built its cyber-attack recovery platform with its patented security failover technology to prevent downtime damage and ensure ongoing operational continuity for operational technology (OT) and industrial control systems (ICS). With the average downtime period after a cyber-attack being up to three weeks and leading to the majority of direct and indirect damages, the company’s platform bypasses standard recovery protocols and allows critical infrastructure operators and industrial enterprises to recover from attacks and any malfunction within 30 seconds. 

Alex Yevtushenko, the company’s co-founder and CEO told Industrial Cyber that Salvador “will use this funding to expand our company’s growth in new markets in the United States and establish markets across Europe. In addition, we plan to strengthen our brand globally and continue to develop innovative technologies and solutions to meet the evolving needs of our customers and new market requirements.”

Salvador Technologies recently appointed Azi Cohen as U.S. executive chairman and Gwen Krauss as vice president of sales for the Americas, who will be leading the company’s sales execution in the U.S., Yevtushenko mentioned. 

“Eran Shalom was also recently hired as the company’s new Vice President of R&D, who will be responsible for the company’s technological innovations and product roadmap,” Yevtushenko noted. “We are also currently onboarding sales and support staff to facilitate our expansion in the United States and Europe and enhancing the company’s product management and development team based in Israel.”

On how exactly will the investment funding round drive the company’s expansion of its cyber-attack platform in the United States and Europe, Yevtushenko detailed that “we distribute our cyber-attack recovery platform through sales channel and go-to-market partners in local markets, including managed security service providers (MSSPs), system integration (SIs) firms and value-added resellers (VARs).” 

He added that the company’s partners “are using our air-gapped, cyber-attack recovery platform to ensure the operational continuity of their industrial enterprise and critical infrastructure customers.”

In light of recent cybersecurity incidents against the OT/ICS environments across the U.S. and Europe, Yevtushenko looks into the opportunities and possibilities would the additional funding provide to Salvador. 

“The increasing rate of cyber-attacks generates more awareness of the need for mitigation within ICS organization,” according to Yevtushenko. “Our new funding will provide Salvador Technologies with the ability to reach out to new markets through local presence and enhanced marketing.”

“Salvador solves a tremendous problem in the underserved OT cybersecurity market,” said Tal Yatsiv, general partner at Pico Venture Partners. “The company’s innovative solution acts as an insurance policy for organizations, eliminating risk by ensuring an immediate full recovery following an attack or a system malfunction.”

Industrial Cyber News Desk

Industrial Cyber News Desk