Karamba Security raised $12M for car cyber solution
17 May, 2017
Karamba has invented Carwall, the first Autonomous Security solution for the Automotive Industry, to detect and block the attack attempts
Karamba Security, a provider of cybersecurity solutions for connected and autonomous vehicles, today announced $12 million in Series B funding, bringing total investment in the company to $17 million, one year after closing a seed round. The funding was driven by investors’ excitement over customer engagements, resulting from Karamba’s unique automotive cyberprevention technology. The investment will be used to expand customer support, sales and R&D organizations so that it can meet the rapidly growing demand. Existing investors YL Ventures and Fontinalis Partners led the round, followed by GlenRock Israel.
“Prevention is key,” said Ami Dotan, Karamba’s co-founder and CEO. “Our technology makes sure that only what’s part of the factory settings can run. Our deterministic approach stands in sharp contrast to network-based solutions that rely on probabilities to try to identify attacks in progress and block them – a technique that creates safety risks.”
Autonomous Security solution
Karamba has invented Carwall, the first Autonomous Security solution for the Automotive Industry. Carwall checks every function call made in real time, to see whether the call complies with a path mapped out in the factory settings. When a hacker tries to run foreign code or attack functions in memory, Carwall detects and blocks the attack attempt. It also reports the attempt with all the relevant contextual information. The result is attack prevention with forensics data that pinpoints the vulnerability and enables fast response time and fixes.
In a little more than a year since coming out of stealth in April 2016, Karamba has engaged with 16 automotive OEMs and Tier-1 suppliers, and was recognized with the 2017 North American Frost & Sullivan Award for Automotive New Product Innovation. According to Mordor Intelligence, The global market for cyber security for cars was USD 16.85 million in 2015 and is expected to grow to USD 1166.14 million by the end of 2020, at a CAGR of 102.62%.