ProvenRun, a Parisian cybersecurity company with a particular focus on connected cars and smart devices, has secured €15 million in a Series A funding round. The investment will be used to accelerate the development of the company’s automotive security products and expansion plans in North America.
ProvenRun’s €15 million Series A round was led by Tikehau Capital and provided through the private equity firm’s new cybersecurity-focused fund. The fund claims to be the largest digital security-focused vehicle of its kind in Europe. The French Ministry of Defense’s Definvest fund, managed by Bpifrance, also participated in the Series A round.
Daily IoT
The IoT sector hasn’t been talked about for a long time, and there’s probably a good reason for this. This is no longer a “picture this possibility” discussion, as many of those possibilities are now reality.
Smart homes, smart devices, and smart cars are no longer theoretical or nascent; they have become part of our daily lives.
It also carries the risk of intrusion by malicious actors.
challenge to battle
Founded by serial entrepreneur Dominic Bolignano, ProvenRun traces nearly 24 years of experience in device security and says it provides the world’s most secure operating systems and apps for connected cars and smart devices.
To support this claim, ProvenRun points to its ProvenCore OS offering. It is the only OS of its kind to have achieved the highest level of certification by Common Criteria, an international standard that allows products to be evaluated by independent accredited laboratories to determine their security properties.
Security by design
A cybersecurity breach is never a good sign, but cyberattacks can have dramatically different outcomes depending on the industry targeted. Identity theft can cause all kinds of problems. Remote entry into a vehicle can pose an entirely different set of problems that can be life-or-death.
With ProvenRun’s “world’s most secure operating system” in mind, it’s surprising that the company focuses on providing cybersecurity solutions to industries such as the aerospace, defense, automotive, and semiconductor sectors. Not.
The company declines to name specific partners or customers, presumably to further ensure security, but the company says it is “integrating software security into software-defined vehicles for automakers and tier-one suppliers.” “We have become an extremely important partner in the process of integrating the project,” he said.
via lead image Proven execution.