Upstream Security Revs Up Cloud-Based Cybersecurity for Connected and Autonomous Car Fleets with $9M Series A
CRV Joins Existing Investors to Accelerate Company's Expansion in the U.S. and Europe as Market for Connected Vehicles and Automotive Cybersecurity Expects to Grow 20x
HERZLIYA, Israel, Dec. 13, 2017 (GLOBE NEWSWIRE) -- Upstream Security, pioneer of the cloud-based cybersecurity platform for connected cars and autonomous vehicles, today 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, the company 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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/f6829eae-4d66-49a6-bd4d-071d05917a5b
"Connected and semi-autonomous cars are already a reality, so it's a matter of 'when' not 'if' these self-driving technologies will be deployed at scale. Upstream's engineers were the first to solve how to protect connected cars and autonomous vehicles using the cloud, crucial for near-term and future deployment of automotive cybersecurity at the fleet level," said Izhar Armony, general partner at CRV. "We believe in Upstream's groundbreaking approach to secure connected and autonomous vehicles and in the abilities of cybersecurity veterans, Yoav Levy and Yonatan Appel, to build a rapidly growing business in this hot, emerging space."
As connected and autonomous driving technologies become mainstream, security attacks on vehicle fleets--groups of motor vehicles owned or leased by a business, government agency or other entity--are likely to increase drastically. 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.
More cars are connected to the Internet today than ever before, driving hackers to develop new and more efficient ways to infiltrate and disrupt automotive software. Today's automotive cybersecurity solutions are in-vehicle and suffer from slow production cycles, which impede their agility as well as their ability to protect against the most recent cybersecurity threats. Upstream's unique solution offers non-intrusive protection, effectively securing cars that are already on the road today and upgradable to stand against new cybersecurity threats and vulnerabilities in the future.
"The automotive industry is going through a massive disruption. Consequently, security solutions for the car are undergoing rapid advances at an unprecedented rate. We're using emerging technologies like AI and machine learning to carry out an evolutionary leap in cybersecurity for passenger and commercial vehicles," said Upstream CEO and cofounder, Yoav Levy. "Riding the wave of momentum from our recent company launch and early customer wins, this new investment round further validates our technology and approach, and will fuel our commitment to be the leading force of innovation in security for connected and autonomous transportation."
Upstream is planning to open offices in Silicon Valley in the coming months.
In addition to this news, Levy recently spoke at KPMG's 8th annual automotive executive forum, the 2017 Los Angeles Auto Show, which announced new research in vehicle fleet security.
About Upstream Security
Upstream Security is the first cloud-based cybersecurity solution that protects the technologies and applications of connected and autonomous vehicles. Founded by cybersecurity veterans, Upstream leverages big data and machine learning to provide OEMs and vehicle fleets with unprecedented, comprehensive, and non-intrusive defense. With application security, real-time data protection and anomaly detection, attacks are identified and blocked before they reach and harm the vehicle's network. To learn more, visit: www.upstream.auto
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Upstream Security via Globenewswire
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
eGain Enables Conversational Customer Service Through Apple Business Chat20.7.2018 12:30 | Pressemelding
SUNNYVALE, Calif. and NEWBURY, United Kingdom, July 20, 2018 (GLOBE NEWSWIRE) -- eGain (NASDAQ:EGAN), the leading provider of cloud-based customer engagement solutions, today announced its integration with Apple Business Chat. According to Gartner, requests for customer support through consumer mobile messaging apps will exceed requests for customer support through traditional social media by 2019*. Moreover, 56% of consumers surveyed in a Nielsen study would rather message a business than call customer service, and 67% expect to message businesses even more over the next two years. Key capabilities Among key capabilities of the integrated solution are: Enabling hundreds of millions of consumers on iPhone and iPad to interact with businesses through the Messages app Leverage eGain AI to infer customer intent, power bot conversations through messaging, route escalations to contact center agents, and guide agents through messaging conversations Provide immersive customer experiences with
Marcus Hiles - Texas Takes #1 Four Years in a Row in America's Top States for Business19.7.2018 23:39 | Pressemelding
DALLAS, July 19, 2018 (GLOBE NEWSWIRE) -- The future business scene in Texas is looking brighter than ever as the state continues to hold its place as a national leader. Growth is spreading across areas such as North Texas, Houston and San Antonio with businesses quickly expanding their operations in the state that offers some of the best in business-friendly climates and overall growth potential. Tapping into the market recently are global leaders such as Toyota, Liberty Mutual and JP Morgan who have taken advantage of the state's increasing network of commercial properties, workforce and business resources. Named by CNBC for the fourth consecutive year as America's Top State for Business, Texas scored above all 50 states on overall business competitiveness. With the business hub building on its role as a national leader for the past decade, this top rank title reflects the progress Texas has made in cementing its place in the global economy. "This national recognition comes without s
Second Quarter 2018 Results Conference Call19.7.2018 21:34 | Pressemelding
AURORA, Ontario, July 19, 2018 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSE:MGA) SECOND QUARTER 2018 RESULTS CONFERENCE CALL WEDNESDAY - AUGUST 8th, 2018 7:30 AM ET DIAL IN NUMBERS North America Toll Free: International Toll: Webcast: 1-888-223-4641 1-416-981-9080 www.magna.com Slide presentation will be available on our website prior to the call. REBROADCAST INFORMATION Replay available 2 hours after the call until August 15, 2018 North America Toll Free: International Toll: Reservation No.: 1-800-558-5253 1-416-626-4100 21892829 INVESTOR CONTACT Louis Tonelli, Vice-President, Investor Relations firstname.lastname@example.org, 905-726-7035 TELECONFERENCE CONTACT Nancy Hansford, Executive Assistant, Investor Relations email@example.com, 905-726-7108 This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originali
Uganda National Airlines Company Limited Signs Firm Order for Four Bombardier CRJ900 Aircraft19.7.2018 18:36 | Pressemelding
First operator of the new CRJ Series ATMOSPHÈRE cabin in Africa MONTREAL, July 18, 2018 (GLOBE NEWSWIRE) -- Bombardier Commercial Aircraft announced today that it has signed a firm order for four new CRJ900 regional jets with Uganda National Airlines Company. Based on the list price for the CRJ900 aircraft, the firm order is valued at approximately US$190 million. "We congratulate the Government of Uganda for the revival of its national flag carrier, and are thrilled that the new airline has selected Bombardier and the CRJ900 regional jets for its upcoming debut," said Jean-Paul Boutibou, Vice President, Sales, Middle-East and Africa, Bombardier Commercial Aircraft. "Recognized for its superior economics and efficiency, the CRJ Series aircraft have enabled airlines worldwide to serve communities with better connectivity, and we look forward to supporting the development of Uganda's regional air travel with these CRJ900 regional jets." Uganda Airlines will operate the CRJ900 in dual-cla
CrownBio Supports Excellence in Translational Research with Grant Award that Funds Innovative PDX Model Development in Immuno-Oncology19.7.2018 15:03 | Pressemelding
"Cancer Research Center of Lyon iPS novel PDX models formulate new immune cell focused strategies" SAN DIEGO, July 19, 2018 (GLOBE NEWSWIRE) -- Crown Bioscience, a global drug discovery and development services company providing translational platforms to advance oncology, inflammation, cardiovascular and metabolic disease research, is proud to announce the award of its Patient-Derived Xenograft (PDX) grant program to doctors Fabrice Lavial, Christophe Caux and Bertrand Dubois from the Cancer Research Center of Lyon (CRCL). The grant program was established to support oncology researchers pursuing scientific advancements in cancer using PDX technology. Following an extensive review, CrownBio's Scientific Steering Committee selected Dr. Lavial and his colleagues at the CRCL due to their project's potential to create breakthroughs in preclinical oncology strategies. Their research combines PDX and iPS cell technologies to create patient-specific, humanized models. These unique models wil
Jumio Introduces Liveness Detection for Web to Better Deter Fraud During Account Onboarding19.7.2018 14:00 | Pressemelding
New identity proofing functionality ensures that the person behind a Web upload verification is present and the person actually creating a new online account PALO ALTO, Calif., July 19, 2018 (GLOBE NEWSWIRE) -- Jumio, the creator of Netverify(TM) Trusted Identity as a Service (TIaaS), today announced the addition of Liveness Detection for Web to better thwart fraudsters' evolving and sophisticated attempts to assume another individual's identity. With identity verification, Jumio's approach is to first verify the government-issued ID (e.g., driver's license, passport or ID card) and ensure that it is authentic and has not been doctored. For mobile SDK customers, Jumio then requires the user to take a selfie which enables the company to compare the person in the selfie to the person pictured in the ID document. Since Netverify is an omnichannel solution, Jumio also supports identity verification via desktop webcams. This channel enables our customers to reach large market segments who a
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom