SOURCE: Veracity Industrial Networks, Inc.

Veracity Industrial Networks, Inc.

October 04, 2017 05:01 ET

Veracity Industrial Networks Closes Seed D Funding Round

Veracity continues to grow and gain momentum

ALISO VIEJO, CA--(Marketwired - Oct 4, 2017) - Veracity Industrial Networks, a leading developer of Industrial SDN-based technology for operational networks, today announced the closing of its Seed D round of investment. Total investment for the round was $1.5 million and included Microsemi, Hollencrest Capital Management and Schweitzer Engineering Laboratories (SEL).

"We have been very deliberate in choosing our investors and we've gained from each of these investor/partners," said Veracity CEO Paul Myer. "We now move directly to our Series A funding round as we add customers moving into 2018."

He added, "This funding will allow us to continue to ramp as we develop and produce next-generation solutions for industrial cybersecurity products for critical infrastructure, such as power plants and water treatment facilities."

Veracity recently announced it has delivered on the first phase of project "Chess Master" with the U.S. Department of Energy and partners Schweitzer Engineering Laboratories, Ameren Corporation and Sempra Energy to bring new capabilities to today's industrial networks.

About Veracity Industrial Networks

Veracity delivers a resilient, secure industrial network that provides an on-premises, centralized configuration, control, and monitoring solution that tracks all connected devices and their communications. The Veracity platform is a secure-by-default network that moves beyond the detection and alerting of cyber events into a resilient network that reduces the attack surface by design. 

The Veracity Industrial SDN network massively reduces the complexity of the network by repurposing the switch infrastructure to ensure communication between devices is determined by the system's design. Veracity provides an innovative and comprehensive platform for critical networks that enables your business mission. For more information, visit www.veracity.io or follow us on Twitter at @veracityio.

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