PR84937

TEL AVIV, Israel, July 29, 2020 /PRNewswire=KYODO JBN/--

Latest Funding Validates Cybersecurity Vulnerability Management and Digital

Twin analysis as The Right Path Forward to Address Automotive Cyber Attacks

Cybellum [http://www.cybellum.com/], a leader in Automotive Cybersecurity Risk

Assessment, today announced a $12 million round A funding, bringing total

investment in the company to $15 million.

The financing round was led by RSBG Ventures GmbH with additional investment

from Cybellum existing investors, Blumberg Capital and Target Global.

The funding was driven by investors' excitement over customer and partners

engagements, resulting from Cybellum's unique automotive cyber risk assessment

technology. The investment will enable Cybellum to accelerate its strong growth

through expanded sales, marketing, and engineering programs. Additionally, it

will enable the adoption of Cybellum's Risk Assessment platform and Digital

Twin approach by more industries, enabling them to scale vulnerability

management operations.

Introduced by co-founders Michael Engstler and Slava Bronfman in 2018,

Cybellum's Automotive Risk Assessment helps the automotive supply chain to keep

its promise to the customer - that every single car component was thoroughly

inspected and found to be completely safe and mostly - secure.

To achieve this, Cybellum developed a revolutionary technology that exposes all

the software vulnerabilities [https://cybellum.com/technology/] in the

vehicle's different components, without ever accessing their source code. The

Cybellum platform monitors every strand of code for their exposure to risk,

allowing manufacturers to take action immediately and eliminate any cyber risk

before any harm is done.

It creates a full, detailed Digital Twin, including even the smallest details

of each software component. With the complete Digital Twin on file, Cybellum

continuously scans for new emerging vulnerabilities, identifying potential

threats impacting certain makes, models, and manufacturing series. That way,

automotive security teams make sure that their cars are as secure as possible,

no matter which car it is or how long it's been on the road.

"Until Cybellum, automotive OEMs had no way of automatically validating the

cyber resilience of their car's software components. With cybersecurity threats

on the rise, Software Risk Management is becoming ever more critical to the

automotive industry," said Uziel Zontag, RSBG Ventures BOD representative.

"Having no access to the source code of the different vehicle components makes

it almost impossible to discover and mitigate underlying cyber risks.

Cybellum's technology addresses this specific challenge, allowing the

automated, continuous vulnerabilities management across the entire automotive

supply chain."

"Our mission is to help automotive manufacturers effectively assess and

mitigate the real threat in their products, and the completion of our funding

is perfectly timed to meet the growing demand for our Risk Assessment

platform," said Slava Bronfman, CEO of Cybellum. "Recently, we've seen a need

for our solution in other industries that also face the challenges underlying

embedded components, like industrial IOT, medical equipment, aviation, and

others. This funding round will help us expand our footprint in the automotive

industry and introduce our technology to additional industries. We are grateful

to our investors for this vote of confidence and look forward to their

continued support."

Cybellum already partners with 10 leading OEMs and Tier-1 suppliers in the USA,

Europe, Japan and China.

A few weeks ago, the Company announced a strategic partnership with the

Renault-Nissan-Mitsubishi's Innovation Lab, the world's leading automotive

alliance. This strategic cooperation will bring to the market the first

solution that can calculate the risk of a vulnerability in the full vehicle

context, help the Alliance brands to manage the risk accurately, save time and

manpower, and be competitively prepared for upcoming regulations.

About Cybellum

Cybellum empowers automotive OEMs and suppliers to identify and remediate

security risks at scale, throughout the entire vehicle life cycle. Our

agentless solution scans embedded software components without needing access to

their source code, exposing all cyber vulnerabilities. Manufacturers can then

take immediate actions and eliminate any cyber risk in the development and

production process, before any harm is done, while continuously monitoring for

emerging threats impacting vehicles on the road. Cybellum already partners with

10 leading OEMs and Tier-1 suppliers worldwide. Read more at www.cybellum.com

Media Contact

Adi Bar-Lev

Cybellum Technologies Ltd.

+1 (415) 992-6330

pr@cybellum.com

SOURCE: Cybellum