Upstream Security, an automotive cyber security and data analytics company for connected vehicles, recently closed a $62 million investment as part of its round C funding.
The latest investment was led by Mitsui Sumitomo Insurance (MSI), and included investors such as NextGen Mobility Fund and Volvo Group Venture Capital.
“We are excited to reach this important milestone and welcome new investors, who believe in our mission to unlock the value of mobility data.” said Yoav Levy, CEO and Co-founder of Upstream Security, adding that the demand for cyber security and data analytics solutions in the automotive industry has increased “significantly.”
Upstream provides a cloud-based cyber security and data analytics platform that taps into data stored in connected vehicles, and combines it with artificial intelligence and machine learning tech. This helps the company offer security capabilities and data analytics insights to its customers so they can take action.
The new investment will help boost the company’s growth and expand its offering in the areas of data analytics, insurance telematics, predictive analytics, and business intelligence.
