Former White House Director Launches Galvanick to Protect Aerospace and Telecom Manufacturers

A former White House senior director, Josh Steinman, co-founded Galvanick, an industrial cybersecurity startup, with Brandon Park and Feliks Pleszczynski. The company aims to monitor and protect aerospace and telecom manufacturers from cyberattacks. Galvanick recently secured $10 million in seed funding and plans to leverage AI for threat detection, although the adoption may take time due to stringent scrutiny in industrial settings. With increasing ransomware attacks against industrial companies, there is a growing demand for cybersecurity tools, although VC investment in related startups fell last year. Geopolitical forces, such as potential Chinese hacking operations, add to the urgency of protecting U.S. infrastructure.

Key Takeaways

• Galvanick, a startup founded by former U.S. Navy officer Josh Steinman and his colleagues, is specializing in industrial cybersecurity.
• Ransomware attacks against industrial companies increased by 50% last year, highlighting the growing cybersecurity threats in the industrial sector.
• Galvanick's software provides digital overwatch for large, connected facilities by analyzing data and alerting to abnormal activity, addressing the dearth of qualified cybersecurity professionals in industrial scenarios.
• Despite a decrease in venture capital investment for cybersecurity startups, Galvanick managed to secure a $10 million seed round in June from prominent backers.
• While there is promise in AI to combat industrial cybersecurity threats, the high scrutiny in industrial systems may delay the full deployment of AI tools.

Analysis

Former White House senior director, Josh Steinman, co-founded Galvanick, an industrial cybersecurity startup focusing on aerospace and telecom manufacturers. The company's $10 million seed funding signals potential impacts on VC investors as they navigate the evolving cybersecurity landscape. Ransomware attacks against industrial companies are boosting demand for such tools, yet stringent scrutiny and geopolitical forces may prolong AI adoption. Short-term consequences include addressing the dearth of qualified cybersecurity professionals, while long-term effects encompass potential disruptions to U.S. infrastructure and the global cybersecurity landscape. Galvanick's initiatives could influence future developments in industrial cybersecurity and investment trends.

Did You Know?

• Seed Funding in Startups: Seed funding refers to the initial capital raised by a new company to support its early development and operations. It is typically obtained from investors or venture capital firms.
• Ransomware Attacks: Ransomware attacks involve malicious software that blocks access to a computer system or data until a ransom is paid. Such attacks have been increasingly targeting industrial companies, posing a significant cybersecurity threat.
• Industrial Cybersecurity Professionals: The shortage of qualified cybersecurity professionals in industrial settings refers to a lack of individuals with the requisite skills and expertise to effectively safeguard large, connected facilities from cyber threats.