Upstream Security, a Herzliya, Israel-based provider of an automotive cybersecurity and data analytics platform for connected vehicles, closed a $62m investment as part of a Series C funding round.
The investment, which brought total funding raised to date to $105m, was led by Mitsui Sumitomo Insurance (MSI), a subsidiary of MS&AD Insurance Group Holdings, Inc., joined by new investors I.D.I. Insurance, 57 Stars’ NextGen Mobility Fund, and La Maison Partners. They joined existing investors Glilot Capital, Salesforce venture, Volvo Group Venture Capital, Nationwide, Delek US, and others.
The company intends to use the funds to reinforce its leadership in the connected vehicle cybersecurity market, expand its offering to current and future customers in the areas of data analytics, insurance telematics, predictive analytics, and business intelligence, continue to invest in identifying, attracting, recruiting, and maintaining talent.
Co-founded by Yoav Levy (CEO) and Jonathan Appel (CTO), Upstream provides a cloud-based cybersecurity and data analytics platform which collects data stored in connected vehicles and combines it with artificial intelligence and machine learning technologies to enable customers to offer advanced security capabilities as well as data analytics actionable insights.
The company’s solutions already protect millions of vehicles on the road today against cyber threats, and customers include some of the world’s leading automotive OEMs, as well as tier 1 and tier 2 suppliers, mobility service providers, and others.