Upstream Security lands investment from BMW i Ventures to accelerate the development of connected vehicle cybersecurity solutions
Upstream Security, the leader in automotive cybersecurity and data management for connected vehicles, announced the close of a Series C round which includes BMW i Ventures as a new investor.
Upstream provides a data management platform purpose-built for connected vehicles, delivering unparalleled automotive cybersecurity and advanced data-driven applications. The platform utilizes connected vehicle data to secure vehicles already on the road against known and unknown cyber-attacks and helps OEMs to unlock the value of automotive data.
BMW is a leader in the smart mobility industry with more than 14 million connected vehicles operating on roads today around the world. The partnership between Upstream and BMW provides a business and technology platform to collaborate on projects that improve and enhance the utilization of data analytics and technologies available for the connected vehicles industry. The collaboration with Upstream started back in 2019 when Upstream joined the BMW Startup Garage program and became a supplier of the BMW Group. The pilot project was successfully completed by the BMW Technology Office in Israel. Leveraging the BMW Startup Garage program, Upstream can harness experienced and specialized resources to develop and test its technology.
“Upstream is committed to leading the way in the development of current and future cybersecurity and data management technologies, enabling our customers to unlock the value of mobility data to detect and mitigate cyber threats as well as improve their services,” said Yoav Levy, CEO and Co-founder of Upstream Security. “I am thrilled by the opportunity to collaborate with an industry leader such as BMW, through BMW i Ventures and the BMW Startup Garage. The partnership will undoubtedly contribute to the future of the industry and to securing every driver on the road.”
“As a global provider of premium connected vehicles and mobility services, vehicle cybersecurity plays a key role for the BMW Group as well as its customers.” BMW General Manager for Automotive Security and Data Services, Martin Arend, commented. “We therefore support i.a. Upstream’s product development in this area, demonstrating its commitment to shaping the future of secure and safe mobility with its automotive cybersecurity and data management platform.”
With the growing number of connected vehicles on the road today, which is expected to multiply over the next few years, the automotive industry is putting an extra emphasis on cybersecurity. New technologies and tools are enabling OEMs to thwart future attacks, keeping their products and passengers safe.
Upstream empowers automotive stakeholders including OEMs, Tier 1 and 2 suppliers, and mobility service providers, to leverage their data, secure their assets, and comply with cybersecurity regulations.