Isreali startup C2A Security secures $6.5M Series A to bring in-vehicle cybersecurity solutions to more automotive customers
C2A Security, an Israeli cybersecurity startup providing in-vehicle solutions preventing life-threatening cyberattacks, has secured a $6.5 million Series A round to bring in-vehicle cybersecurity solutions to more automotive customers. The round was led by Maniv Mobility and ICV with participation from Labs/02.
Founded in 2016 by Michael Dick, a security delivery veteran, C2A provides protection from life-threatening cyber-attacks for the automotive industry. C2A products are based on a deep knowledge of the automotive industry’s pains and requirements and have been engineered from the ground-up with automotive manufacturers’ needs in mind: cost, time-to-market and integration complexity. Prior to C2A Security, Michael Dick co-founded NDS, a company that was later acquired by Cisco for $5 billion in 2012. Michael is a pioneer in embedded, network and content security and managed many global clients. He has global experience working on large scale systems that protected billions of dollars of content for customers including BSkyB, Foxtel, Star TV, Sky Italia, Direct TV and others. With the backing of top-tier investors, Michael leads an experienced team of cyber security and automotive professionals.
C2A has developed a unique suite of solutions that protect the car’s internal systems against cyberattacks, ensuring passenger’s safety. Using a bespoke suite of solutions that communicate with one another, C2A is able to detect and mitigate any type of attack, ranging from autonomous systems hacks to chip-level vulnerabilities. C2A has already integrated a production-ready suite of solutions to leading manufacturers worldwide and plans to utilize the new funding to grow its R&D team and support its rapidly growing customer base.
“We are extremely proud to receive the support of such outstanding investors, who will bring tremendous value to the company. Maniv’s expertise in autotech and strong network across the industry coupled with ICV’s rich experience in cybersecurity brings the perfect combination of skills to the table,” said Michael Dick, founder and CEO of C2A.
Commenting on the funding, Olaf Sakkers, Partner at Maniv Mobility said, “We’ve spent several years closely evaluating the in-vehicle cybersecurity market and our technical analysis and conversations with C2A’s customers has convinced us that this is the best solution to an acute need that is only going to grow over time.”
ICV invests in seed and early stage companies leveraging technology and business model innovation to deliver disruptive efficiencies to global markets. ICV manages more than $225M across three funds. Its investment in C2A marks the first portfolio investment out of ICV III. “I believe that C2A has built a uniquely talented team and has approached this problem in a way that allows carmakers to maintain control over their systems, a critical requirement for penetrating this market. Having Michael Dick as CEO of C2A, following his incredible success as a cofounder of NDS which was acquired by Cisco for $5B, gives us the confidence that he can scale C2A into a massive company,” Meir Ukeles, Partner at ICV added.