Upstream Security, pioneer of the cloud-based cybersecurity platform for connected cars and autonomous vehicles, has announced the closing of $9 million in Series A funding, led by CRV (Charles River Ventures). The round included expanded investments from Israeli-based Glilot Capital Partners and Maniv Mobility following a $2 million seed funding round in June.
Upstream’s cloud-based approach to automotive cybersecurity leverages artificial intelligence and machine learning that is applied to the tremendous data sets continuously produced by vehicles. This provides customers with data protection, anomaly detection and real-time analytics of cyber attacks and vehicle fleet health. By centralizing cybersecurity in the cloud instead of in-vehicle, threats are detected and prevented before they even reach a vehicle’s network.
The company has informed that it will use the latest investment to expand its R&D program and continue building out its world-class engineering and security research teams, and open marketing and sales offices in the United States and Europe. The company is well-resourced to secure the 60 million connected cars on the road today that include commercial trucks, vans, buses and private vehicles, as well as take advantage of the imminent explosion in connected vehicles—Gartner expects there will be 250 million connected vehicles by 2020.