This round brings Upstream Security's total funding to $103.5M. Here are the top-line bullets you need to know.
Upstream Security, an automotive cybersecurity and data analytics platform, has raised $62M in Series C funding. The round drew participation from Mitsui Sumitomo Insurance, 57 Stars, La Maison Partners, and IDI Insurance.
How’s the company performing?
- Israel-based Upstream Security taps into data stored in connected vehicles to provide real-time insights regarding security, using machine learning and digital twin profiling technologies.
- The company states that its solutions are currently being used to protect millions of vehicles on the road.
Source: Upstream Security
Why does the market matter?
- The global automotive cybersecurity market is projected to grow at a CAGR of 16.5% and reach a value of $4B by 2025, according to Markets and Markets.
- Increased use of electronics in vehicles, the rise of connected vehicles, elevated emphasis on government regulations for vehicular data protection, and the growth of cloud-based applications have contributed to industry growth.