The investment will accelerate the growth of Upstream's cloud-based cybersecurity and data analysis platform for connected vehicles as well as support the digital transformation of Mitsui Sumitomo Insurance 

Mitsui Sumitomo Insurance announced last week a strategic partnership with Upstream Security via an investment of $36 million. The Israeli company provides cloud-based  cybersecurity and data analysis platforms for smart transportation, connected vehicles, autonomous cars and insurance products. MSI, the largest insurance company in Japan and one of the leaders in the global market, supplies insurance services in 49 countries.   

The investment by MSI opened Upstream Security's Series C round of funding that will be completed in the coming months. The round also includes an investment by Israel's I.D.I. Insurance Company that launched a technology hub in Israel together with MSI in the beginning of the year. The company has so far raised $43 million in seed, A and B rounds. The company currently employs more than 70 workers and is in the process of a massive recruitment of workers in various fields such as development, cyber research, data science and more.   

The company said that the strategic partnership will help revolutionize the car insurance market, which is worth billions, and allow insurance companies to use connected car data to gain meaningful insights on insurance-related issues such as improved risk management and enhanced customer experience. 

🇮🇱 IF YOU LOVE ISRAEL - SHARE NEWSRAEL! 🇮🇱