Upstream Security, the developer of a cloud-based cybersecurity platform for connected and autonomous vehicles, has closed a $9 million Series A funding round led by CRV (Charles Rivers Ventures).
The company will use the investment to expand its R&D programme, build its engineering and security research teams and open offices in the US and Europe.
Upstream expects security attacks on vehicle fleets to increase drastically as connected and autonomous driving technologies become mainstream. Its cybersecurity solution uses artificial intelligence and machine learning to protect the data produced by connected and autonomous vehicles.
“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,” said Izhar Armony, general partner at CRV.
“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.
“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.”