Upstream Security receives strategic investment from Cisco Investments as demand for IoT cybersecurity soars
Upstream Security receives strategic investment from Cisco Investments as demand for IoT cybersecurity soars
The startup’s platform provides cybersecurity extended detection and response (XDR) for connected vehicles and IoT
Upstream Security, which has developed a platform that provides cybersecurity extended detection and response (XDR) for connected vehicles and IoT, announced on Wednesday that it has received an investment from Cisco Investments. The amount invested was not disclosed. Upstream has raised over $100 million to date, including from Hyundai, Volvo, Renault and BMW.
The proliferation of complex IoT devices in the Mobility, Automotive, and Transportation sectors has opened the door for large-scale cyber risks. Upstream already protects millions of mobility connected vehicles and IoT devices worldwide, offering a cloud-based multi-layered approach to extended detection and response.
“We are thrilled to welcome Cisco Investments to our group of investors,” said Yoav Levy, Upstream Security Co-founder and CEO. “This investment provides a unique opportunity to deepen our impact on the IoT sector, and more specifically Mobility, Automotive and Transportation.”
Upstream’s cloud-based IoT XDR platform analyzes, in real-time, the contextual state of physical IoT assets and their connected ecosystem, to identify and mitigate cyber risks. The platform is agentless, requiring no installation of software or hardware.
“Together with our partners, Cisco is enabling automobile manufacturers across the globe to provide mission-critical, secure connectivity as cars transform into data centers on wheels,” said Cisco Investments vice president, Aleem Rizvon. “With an expected 95% of new vehicles having embedded connectivity by the year 2030, we can also expect a rise in automotive cybersecurity threats. Investing in solutions, to ensure the right safeguards for secure connectivity and operation are in place, is critical to instill the trust needed for wide adoption of the technology, not just in the automotive segment, but more broadly for other IoT applications, as well.”
