Upstream Security Raises $62 Million in Series C Financing Round
Upstream Security, the leader in automotive cybersecurity and data analytics for connected vehicles, announced it successfully closed a $62 million investment as part of round C funding, thereby completing a total of $105 million investment since its founding. This latest investment, which was led by Mitsui Sumitomo Insurance (MSI), a subsidiary of MS&AD Insurance Group Holdings, Inc., was joined by new investors I.D.I. Insurance, 57 Stars’ NextGen Mobility Fund, and La Maison Partners. These parties join Upstream’s existing investors Glilot Capital, Salesforce venture, Volvo Group Venture Capital, Nationwide, Delek US, and others.
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Upstream provides a cloud-based cybersecurity and data analytics platform which taps the mounts of data stored in connected vehicles and combines it with purpose-built artificial intelligence and machine learning technologies to empower its customers to improve business results by offering advanced security capabilities as well as data analytics actionable insights.
Upstream’s solutions already protect millions of vehicles on the road today against cyber threats, and its customers include some of the world’s leading automotive OEMs, as well as tier 1 and tier 2 suppliers, mobility service providers, and others.
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The new investment will boost Upstream’s growth and reinforce its leadership in the connected vehicle cybersecurity market, while expanding its offering to current and future customers in the areas of data analytics, insurance telematics, predictive analytics, and business intelligence. In addition, the company will continue to invest in identifying, attracting, recruiting, and maintaining top talent.
“We are excited to reach this important milestone and welcome new investors, who believe in our mission to unlock the value of mobility data.” said Yoav Levy, CEO and Co-founder of Upstream Security. “With today’s revolution in automotive connectivity and exponential growth in the number of connected vehicles on the road, the demand for automotive cybersecurity and data analytics solutions has increased significantly, and Upstream is well poised to tap this growth and capitalize on the business opportunities shared by our customers and partners.”
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