Argus Cyber Security, a Tel Aviv, Israel-based developer of an automotive cybersecurity platform, raised $26M in Series B funding.
The round included Magna International, Allianz SE, the SBI Group and existing investors Magma Venture Partners, Vertex Venture Capital and the Co-Founder of the RAD Group, Mr. Zohar Zisapel.
The company intends to use the funds for the expansion of development and customer support teams.
Founded in 2013 by Ofer Ben-Noon, CEO, Argus prvides an automotive cyber security platform for car manufacturers, their Tier 1 suppliers and aftermarket connectivity providers to protect connected cars and commercial vehicles from car-hacking.
Car manufacturers using the Argus Cyber Dashboard gain situational awareness to the cyber health status of their fleets, receive pin-point alerts and respond in real-time to cyber attacks.
The company also has offices in Michigan, the Silicon Valley, Stuttgart and Tokyo.