Boarding Pass
Salvador Technologies expects to create a new category in cybersecurity. Here’s how.
The company has received $3 million to provide the world's fastest recovery capability for critical OT systems
Salvador Technologies founders Oleg Vusiker and Alex Yevtushenko. Photo: Salvador Technologies Company Name: Salvador Technologies
Sector: Cybersecurity
Product/Service description:
We provide the world's fastest recovery technology from cyberattacks and IT failures. We are focused on OT & Healthcare systems.
Founder Bios:
We are childhood friends from Kiryat Gat. In high school, we won first place in international robotics competitions in the U.S and Japan (got support from Intel Kiryat Gat). Oleg Vusiker is an alumni of the elite cybersecurity unit IDF Matzov and an E.E Engineer from Tel Aviv University. Alex Yevtushenko is an alumni of an IDF intelligence unit and an E.E Engineer from Ben-Gurion University.
Year of Founding: 2020
Last Investment Amount: $3 million
Last Investment Stage: Seed
Date of Last Investment: November 2021
Total Investment to Date: $3 million
Investors (leading and all):
Pitango, Ariel Maislos, Sarona Partners, Prof. Hezy Yeshurun (Co-founder Forescout), Cyverse Capital, and Uri Arazy (Former Intel Capital).
Current number of employees: 8
Open positions: Marketing
Website:
Is there anything else you want us to know?
We have just been granted a U.S patent for our innovative technology. It will create a new category in the market: instant recovery computing.
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Interview:
How was the idea born?
The idea was born after Oleg's service in an IDF cybersecurity unit. The main motivation was to develop first in the market air-gapped hardware-based solutions for the ransomware problem. Most of the other solutions are software-based and focus on detection and prevention and not recovery, and might be bypassed by the attacker.
What is the need for the product?
The idea of the product is to provide instant recovery capability from a ransomware attack and software/hardware failure for operational technology systems (OT), examples of such systems include HMI industrial machines, building management systems, and healthcare equipment (MRI, CT, X-Ray). We do it by using air-gapped protected backups (the protection is hardware-based).
How is it changing the market?
We provide the world's fastest recovery capability for critical OT systems. Until this day, most of the backup and recovery companies have focused on the IT world, the OT world has been neglected and still uses primitive and not efficient backup solutions, such as external hard drives and backup tapes.
How big is the market for the product and who are its main customers?
The size of the OT backup and recovery market is estimated at $5 billion dollars in the U.S and Europe.
Does the product exist already? If not - at what stage is it and when is it expected to hit the market?
Our product already has its first paying customers: a large chemical plant in the south of Israel, one of the largest logistics centers in Israel, water supply management (HMI SCADA), and one of the largest data centers (building management systems).
Who are the main competitors in this sector and how big are they?
The main competitors are any other backup and recovery solutions, most of them focusing on virtual machines and IT systems recovery, no one focuses on OT. This is the reason why this industry is still using external disks or does not perform backups at all.
Notable names: Dell-EMC, Rubrik (both of them focusing on IT).
What is the added value that the founders bring to the company and the product?
Oleg and Alex are childhood friends who won several international robotics competitions during high school. Alex was an R&D Manager and worked with large companies such as Tesla, and NASA. Oleg is an alum of an elite cybersecurity unit in the IDF, he has vast experience protecting national infrastructure from cyberattacks. We are both E.E Engineers (Alex from BGU, Oleg from TAU).
What will the money coming in from the round be used for?
The money is used to establish a team and start sales in Europe. Today we have already 8 employees, with the office located in Rehovot.
In the "Startup Boarding Pass" section, CTech will cover the (relatively) small investments made in companies during the early stages of their existence - and the entrepreneurs and startups who have not yet had the opportunity to reveal their stories to the world. Please use the linked form and fill it out according to the guidelines. This form is intended for startups raising between $500,000 and $3 million from venture capital funds, angels, or official grants from Israeli and foreign institutions. If relevant, someone at CTech will be in touch for follow-up questions.
