Salvador Technologies, a leading provider of cyber-attack recovery solutions for critical infrastructures and industrial organizations, has successfully raised $6m in a funding round.
The investment, spearheaded by Pico Venture Partners, was bolstered by contributions from existing investors including Pitango VC and Sarona Partners, further cementing their commitment to Salvador’s vision.
Established in 2020 by Alex Yevtushenko, CEO, and Oleg Vusiker, CTO, Salvador Technologies has revolutionized the landscape of cyber resilience. Their market-leading platform, equipped with patented security failover technology, addresses a crucial need in the sector. By enabling quick recovery from cyber-attacks and malfunctions, it minimizes operational downtime, a key concern in Operational Technology (OT) and Industrial Control Systems (ICS).
The primary objective of Salvador Technologies is to ensure uninterrupted operational continuity in critical infrastructures. Their innovative platform circumvents traditional recovery protocols, allowing a rapid recovery time of just 30 seconds following cyber-attacks or system malfunctions. This capability is particularly vital considering the average downtime post-cyber-attack can extend to three weeks, causing substantial direct and indirect damages.
The newly acquired $6m funding is earmarked for enhancing Salvador’s platform capabilities and expanding its reach to a wider range of industries.
Alex Yevtushenko, Co-Founder and CEO of Salvador Technologies, emphasized the urgency of their mission, “The number of cyber-attacks on critical infrastructures is exponentially increasing. The security challenges are growing, especially in light of the artificial intelligence (AI) that has penetrated into cybercrime, and the need for an effective recovery solution is critical.”
Tal Yatsiv, General Partner at Pico Venture Partners, also highlighted Salvador’s unique market position, saying, “Salvador solves a tremendous problem in the underserved OT cyber security market. 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.”
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global
