FedDev Ontario | August 10, 2022
Canvass Analytics Inc. ("Canvass AI"), a leader in industrial AI software, today announced the completion of its previously reported Series A financing with an extension of US $7.73 million, led by Yamaha Motors Ventures and a CDN $5.7 million (US $4.43 million) repayable loan from the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The Series A extension will fuel the company's mission to empower industrial workforces to drive impact across their operations with the power of Industrial AI.
"The completion of our Series A endorses our go-to-market strategy and the acceptance of our solution in market. Today, leading industrials and manufacturers are using our patented Canvass AI platform to solve challenges that have plagued their operations for decades. This, in turn, is providing a positive impact to their productivity, profitability, and sustainability goals, This additional financing places us in a solid position to achieve our growth plans and accelerate AI adoption in large and mid-cap industrial companies."
-Humera Malik, CEO of Canvass AI.
As previously announced, the FedDev loan will enable the company to expand its diverse and inclusive workforce in Ontario as the company accelerates its growth with industrial companies who are rapidly adopting and scaling AI across their operations.
"Our government believes that protecting our environment and fighting climate change is not only the right thing to do for the planet but also for our economy. The Government of Canada is proud to support tech companies like Canvass AI in the important work they are doing to reduce the environmental impact of major industries as we move toward net-zero emissions."
-Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario.
Canvass AI's laser focus on enabling industrial companies to achieve their performance goals faster with the power of AI is filling a gap in the market that industrial companies have been searching for. We are excited by Canvass AI's strategy to empower industrial engineers as the change makers of Industry 4.0 so that the industrials can extend their competitive advantage, reduce costs, and advance their sustainability initiatives, commented Anish Patel, COO and Managing Director of Yamaha Motor Ventures.
Canvass AI's customers span the oil and gas, chemical and petrochemical, metals and mining, and energy sectors, all of which contribute significantly to the global economy and will play key roles in combating climate change. The Canvass AI platform provides industrial engineers with easy-to-use AI solutions to apply and scale across their operations that address their operational challenges, without requiring coding or data science expertise. Today, leading companies use Canvass AI to reduce carbon emissions and waste, improve yields, optimize facility operations, improve asset reliability and integrity, and optimize energy consumption.
About Canvass AI:
Canvass AI is a leading industrial AI software provider that puts the power of AI in the hands of industrial workforces to solve day-to-day operational problems. Some of the world's largest companies use Canvass AI's patented Industrial AI Platform to reduce carbon emissions and waste, improve yields, and optimize facility operations. Backed by Alphabet and Yamaha Motor Ventures, the Company is recognized by CB Insights as one of the world's top 50 technology companies that is advancing manufacturing.
About FedDev Ontario:
For 13 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada's most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region.
QuSecure | May 26, 2022
QuSecure, Inc., an innovator in post-quantum cybersecurity, (PQC) announced that its quantum orchestration platform, QuProtect, the industry’s first end-to-end post-quantum cybersecurity software-based solution uniquely designed to protect encrypted communications and data with quantum-resilience using quantum secure channels, has been honored in The Govies Government Security Awards competition by Security Today magazine. QuSecure won the highest honor, the Platinum Award, in the Cyber Defense Solutions awards category.
1105 Media launched its government security awards program in 2009 to honor outstanding government security products in a variety of categories. An independent panel of judges from the security industry selected the top 2022 entries and named winners using criteria including Features, Innovation, User Friendliness, Interoperability, Quality, Design, Market Opportunity, Impact in the Security Industry, Technical Advances, and Scalability. Participation in the program was greater than ever this year as government security continues to be an ongoing and growing concern.
At QuSecure we are very concerned with National Security and therefore Government is a significant sector for us. It is rewarding for QuProtect to be recognized with this award, particularly from an independent panel of security industry experts. Our QuProtect solution will enable government organizations to remain in compliance with the major government security initiatives we have seen coming, as the industry accelerates toward a quantum future. QuProtect uniquely combines QuSecure’s broad-based quantum and post-quantum technologies providing secure, interoperable cybersecurity to protect government organizations’ networks from quantum threats today and into the future.”
Skip Sanzeri, QuSecure Founder and COO
QuProtect provides quantum-resilient cryptography, anytime, anywhere and on any device. QuProtect uses an end-to-end quantum security as a service (QSaaS) architecture that addresses the digital ecosystem’s most vulnerable aspects, uniquely combining zero-trust, next-generation post-quantum cryptography, quantum-strength keys, high availability, easy deployment, and active defense into a comprehensive and interoperable cybersecurity suite. The end-to-end approach is designed around the entire data lifecycle as data is stored, communicated, and used.
QuProtect is the industry’s most advanced PQC solution providing quantum-resilience for many of today’s critical use cases, including satellite, network, and IoT communications. QuProtect can be hosted on-premise or via the cloud delivering the most compatible solution to the post-quantum problem, solving today’s most complex compliance challenges, such as bring-your-own-device (BYOD) and work-from-home policies. An organization can implement PQC across all devices on the network with minimal disruption to existing systems, protecting against current classical and future quantum attacks which could irreparably disrupt industries and infrastructures across government and commercial sectors.
“The pandemic has wreaked havoc worldwide, but security manufacturers continued to work hard designing new security solutions for the government sector,” said Ralph C. Jensen, editor in chief, Security Today magazine and securitytoday.com. “This is truly a testament of dedication and vision to ensure the best products are available for government use. Manufacturers should be proud of their employees for providing the best solutions in these challenging times. We appreciate the opportunity to enhance the marketplace by honoring these award winners.”
About 1105 Media’s Infrastructure Solutions Group
1105 Media’s Infrastructure Solutions Group includes several leading industry media brands that provide new product and technology solutions for security professionals: The brands’ print, digital, custom media and research products integrate physical and IT security coverage and provide the smartest, most cost-effective solutions for reaching security decision makers.
QuSecure is an innovator in post-quantum cybersecurity with a mission to protect enterprise and government data from quantum and classical cybersecurity threats. Its quantum-safe solutions provide an easy transition path to quantum resiliency across any organization. The company’s QuProtect solution is the industry’s first PQC software-based platform uniquely designed to protect encrypted communications and data with quantum-resilience using a quantum secure channel. QuSecure has current customer deployments in banking/finance, healthcare, space/satellite, IT/data enterprises, datacenters and various Department of Defense agencies. QuSecure is investor backed and has offices in Silicon Valley.
CrowdStrike | June 03, 2022
CrowdStrike, a leader in cloud-delivered endpoint, cloud workload, identity, and data security, today announced that the Falcon Identity Threat Protection module for its GovCloud-1 environment is now generally available. Falcon Identity Threat Protection is now available to U.S. public sector enterprises that require FedRAMP Moderate or Impact Level 4 (IL-4) authorization. This covers federal agencies in the United States, state and local governments in the United States, and the Defense Industrial Base (DIB).
In May 2021, the White House issued Executive Order (EO) 14028, which defined security best practices, including how the federal government should progress toward a Zero Trust Architecture to stay up with today's dynamic and increasingly complex cyber threat environment. CrowdStrike believes that identity protection and Zero Trust principles should be applied to hybrid and multi-cloud systems. Customers' on-premises and cloud settings, as well as other identity suppliers, require all-encompassing identity protection. A breach can occur if a section of the architecture or the authentication flow is not visible.
Falcon Identity Threat Protection works with the most popular identity providers (IdPs), allowing clients to implement multi-factor authentication (MFA).
Customers can use the same MFA for on-premises authentication processes using this integration, and those who desire can use several IdPs. If a compromised identity is found, Falcon Identity Threat Protection can stop it from authenticating and getting to more resources on-premises or in the cloud.
According to the2022 CrowdStrike Global Threat Report, nearly 80% of cyberattacks leverage identity-based attacks to compromise legitimate credentials. We are committed to helping the U.S. public sector protect against identity-based threats. With GovCloud-1 support, Falcon Identity Threat Protection can enable U.S. public sector organizations to get visibility and control of their identity infrastructure and apply Zero Trust principles.”
Shawn Henry, CrowdStrike chief security officer and president of CrowdStrike Services
"As agencies adopt Zero Trust, they need to continuously verify user identity and device posture," said Katy Mann, VP of Federal at Okta. "Through our partnership with CrowdStrike, Falcon Identity Threat Protection examines authentication requests in real-time, sharing risk scores with Okta for access policy enforcement. That way, agencies are confident that only the right people with secure devices can access mission-critical resources. And users benefit from a simpler experience and seamless single sign-on across apps. Together, Okta and CrowdStrike are accelerating the transition to Zero Trust."