Nationwide Invests in Cybersecurity for Connected Cars
Oct. 22, 2019—Nationwide's venture capital team has invested in Upstream Security, a provider of cybersecurity for connected vehicles. The Upstream announcement is part of Nationwide's commitment to invest more than $100 million of venture capital in customer-centric solutions.
The investment is designed to help Upstream enable OEM car manufacturers and fleets to detect, monitor and respond to attacks, targeting any part of the connected vehicle framework – even for vehicles already on the road.
"As mobility continues to evolve with technology, it will be important for carriers and vehicle manufactures to keep up with customer protection needs," said Tony Fenton Nationwide's vice-president of commercial underwriting and new product development.
Earlier this year, a report published by Upstream Security outlining the automotive threat landscape spanning the past decade demonstrated that multiple, key stakeholders have been targeted. In many cases attacks were executed indirectly via connected services and applications and from long distance.