Saturday, June 15, 2024

Upstream Security Receives Investment from Cisco as Demand for IoT Cybersecurity Surges

Upstream Security, a leading provider of cybersecurity extended detection and response (XDR) for connected vehicles and the Internet of Things (IoT), has received an investment from Cisco Investments. The proliferation of complex IoT devices in the mobility, automotive and transportation sectors is resulting in unprecedented operational efficiencies, data-driven services and solutions, and exceptional customer experiences. However, advanced connectivity and software-defined components open the door to significant cyber risks that threaten business availability and data integrity.

Upstream already protects millions of mobile, connected vehicles and IoT devices worldwide, taking a cloud-based, multi-layered approach to advanced detection and response.

“We warmly welcome Cisco Investments as a new member of our investor group,” said Yoav Levy, co-founder and CEO of Upstream Security. “This investment creates a unique opportunity to strengthen our influence in the IoT sector and in particular in the areas of mobility, automotive and transport.”

Cisco Investments’ commitment increases the need for fit-for-purpose IoT cybersecurity solutions that protect the mobility and IoT ecosystem throughout the development and production cycle.

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“Together with our partners, Cisco is enabling automakers around the world to deliver mission-critical, secure connectivity as cars transform into rolling data centers,” said Aleem Rizvon, vice president at Cisco Investments. “With 95% of new vehicles expected to have built-in connectivity by 2030, we expect threats to vehicle cybersecurity to increase. Investments in solutions that ensure adequate protection for secure connectivity and operations are urgently needed to build the trust required for widespread adoption of the technology – not just in the automotive segment, but all IoT applications more broadly .”

Disrupting the IoT cybersecurity market

Upstream‘s cloud-based IoT XDR platform analyzes the real-time, contextual health of physical IoT assets and their connected ecosystem to holistically identify and address cyber risks. The platform is agentless – meaning no software or hardware installation is required. This advantage enables rapid deployment and comprehensive coverage of devices already operating in the production environment.

The platform captures, analyzes and normalizes massive amounts of connected vehicle data, IoT protocols, telematics data, API transactions and other data streams from millions of devices, endpoints and application users. This data can be used to create unique digital twins that map devices and endpoints in near real-time, enabling holistic and effective discovery. By monitoring devices, services and overall asset behavior, the platform detects known and unknown anomalies based on proprietary ML-powered models.

SOURCE: Businesswire

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