Upstream Security, automotive cybersecurity, and data management for connected vehicles, today announced the completion of a Series C financing led by BMW I Ventures.
Upstream offers a data management platform optimized for connected vehicles which leverages connected vehicle data from known and undiscovered cyber-attacks and assists OEMs in unlocking the value of automotive data.
BMW has more than 14 million connected vehicles on the road today. Upstream and BMW have formed a relationship to engage in initiatives that improve and expand the use of data analytics and connected vehicle technologies.
The relationship with Upstream began in 2019 when Upstream was accepted into the BMW Startup Garage program and became a BMW Group supplier. BMW Technology Office in Israel successfully completed the pilot project. Upstream can leverage skilled and specialized resources to develop and test its technology through the BMW Startup Garage program.
With the increasing number of connected vehicles on the road today, which is likely to expand exponentially in the coming years, the automotive industry is placing a premium on cybersecurity.
Upstream enables automotive stakeholders, such as OEMs, Tier 1 and Tier 2 suppliers, and mobility service providers, to maximize the value of their data, protect their assets, and comply with cybersecurity rules.
“Upstream is committed to setting the standard for current and future cybersecurity and data management technologies, enabling our customers to leverage the value of mobility data to detect and mitigate cyber threats while also improving their services,” said Yoav Levy, CEO and Co-founder of Upstream Security. “The agreement will surely benefit the industry’s future and ensure the safety of every driver on the road.”
“BMW Group and its customers place a priority on vehicle cybersecurity.” Martin Arend, BMW’s General Manager for Automotive Security and Data Services, stated. “As a result, we support i.a. Upstream’s product development in this space, proving the company’s commitment to creating the future of secure and safe mobility through its automotive cybersecurity and data management platform.”