Upstream Expands Series B Funding with an Investment by Salesforce Ventures

Upstream | June 11, 2020

  • Upstream offers specialized cloud-based data services for connected cars, including cybersecurity, quality enhancement, and data monetization opportunities.

  • The undisclosed amount is in addition to $30 million previously invested by Alliance Venture Capital (Renault, Nissan, Mitsubishi), Hyundai, Nationwide Insurance, Volvo Group, and others.

  • This new partnership with Salesforce Ventures will enable the digital transformation of smart mobility players by producing an end-to-end automotive data service, beyond cyber capabilities.


Upstream Security announced today that it has secured an expansion of its Series B funding with an investment by Salesforce Ventures. The undisclosed amount is in addition to $30 million previously invested by Alliance Venture Capital (Renault, Nissan, Mitsubishi), Hyundai, Nationwide Insurance, Volvo Group, and others.

Read more: Snowflake Announces 'Rise of the Data Cloud'  Podcast to Feature Insights from Data Leaders

Upstream offers specialized cloud-based data services for connected cars, including cybersecurity, quality enhancement, and data monetization opportunities. Salesforce offers its leading CRM platform to automotive OEMs, dealers, suppliers, and mobility services. The partnership between the two companies will bring real-time end-to-end data-driven solutions to the automotive sector.

Our partnership with Upstream will empower our automotive customers with value-added end-to-end data services. The fusion between data and customized offerings is integral to the digital transformation of the automotive sector.

- Achyut Jajoo, Salesforce's Vice President and Chief Solutions Officer


As the automotive industry becomes a smart mobility ecosystem with connectivity at its root, new tools are needed. Utilizing connected car data such as telematics, OTA (over the air updates) and mobility applications opens extensive opportunities for automotive OEMs, dealers, suppliers, and value-added mobility services. A growing number of the world's largest vehicle OEMs and mobility providers already rely on Upstream's platform to transform their automotive data into a comprehensive cybersecurity solution utilizing vehicle digital twins and insights.

This new partnership with Salesforce Ventures will enable the digital transformation of smart mobility players by producing an end-to-end automotive data service, beyond cyber capabilities, that will allow additional players in the automotive ecosystem to both understand the connected car data and enact real-time actions based on the insights found within that data.

Both Salesforce and Upstream have jointly recognized the power in automotive data and the capabilities that it unlocks. Paired with Salesforce's unparalleled CRM services, Upstream's field proven automotive-specific machine learning and data analysis tools will be instrumental in helping the automotive realm adapt to the new-age demands of the connected car customer.

- Upstream Co-Founder and CEO, Yoav Levy


Read more: Winshuttle, ABBYY Announce Partnership to Help Organizations Deliver on Their Digital Transformation Go-Live Projects

About Salesforce Ventures:

Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Salesforce Ventures, the global investment arm of Salesforce, invests in the next generation of enterprise technology that extends the power of the Salesforce Platform. Salesforce Ventures is building the world's largest ecosystem of enterprise cloud companies and extending that technology to customers. Portfolio companies receive funding, strategic advisory and operating support, and can easily join Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 375 companies, including DocuSign, GoCardless, Guild Education, nCino, Twilio, Zoom and others across 22 countries since 2009.

About Upstream Security:

Upstream Security is a cloud-based data platform purpose-built for connected vehicles and smart mobility services. Upstream's platform fuses machine learning, data normalization and digital twin profiling technologies to detect anomalies in real-time using existing automotive data feeds. The result is unparalleled cybersecurity, quality assurance, and predictive maintenance insights, readily available and seamlessly integrated into the customer cloud. Upstream is privately funded by Alliance Ventures (Renault, Nissan, Mitsubishi), Volvo Group, Hyundai, Nationwide Insurance, Salesforce Ventures, CRV, Glilot Capital Partners and Maniv Mobility.

Spotlight

The convergence of science, technology, engineering and financial services puts us on the cusp of a new business revolution. For businesses looking to solve complex data challenges or redefine customer relationship and business development processes, Liverpool City Region is leveraging a unique set of nationally-significant science assets to become a leader in exploring the possibilities of knowledge process outsourcing.


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BUSINESS INTELLIGENCE, BIG DATA MANAGEMENT

Accenture to Acquire ALBERT After Completing Tender Offer

Accenture | November 15, 2022

Accenture is to acquire Japanese data science company ALBERT Inc. (President and CEO: Tokyo Stock Exchange Growth Market, Securities Code: 3906), after completing a tender offer. The acquisition will add a large team of data scientists to Accenture to further strengthen its data and AI capabilities for clients. The tender offer was launched on September 29 and closed on November 14. The number of ALBERT's common shares and stock acquisition rights tendered to Accenture significantly exceeds the threshold required for ALBERT to become part of Accenture, equal to two thirds of the ALBERT stock. Upon completion of the transaction, ALBERT will be part of Accenture. Accenture expects to purchase all remaining shares and stock acquisition rights in the coming months, after which ALBERT will be delisted from the Tokyo Stock Exchange. ALBERT offers AI and big data analytics services, AI-based algorithm development, AI implementation consulting, and data science training support, primarily to major corporations in Japan. The company was founded in 2005 and was listed on the Tokyo Stock Exchange in 2015. Its data science team of 250 permanent employees and contractors will join Accenture’s Applied Intelligence practice, which provides AI and data-led transformation solutions and services. ALBERT will strengthen Accenture’s ability globally to help its clients manage the total reinvention of their enterprises, which most successful companies will undergo in the next decade. Technology, data and AI will transform every part of their business, enabling new ways of working and engaging with customers, business models and growth opportunities. The acquisition will be Accenture’s latest step to further strengthen its services in Japan that use data to digitally replicate the entire enterprise and to help Japanese companies grow and become more competitive with deep data analytics and AI expertise. Accenture has launched several solutions for data-driven management in Japan recently, for example, to forecast various business scenarios and propose actions to improve the forecasts, and to support clients’ ESG (environment, society, and corporate governance) practices. Atsushi Egawa, who leads Accenture’s business in Japan, said, “Companies today need a 360-degree view on their business to make better and faster decisions. They must look beyond the financials and include, for example, sustainability initiatives, customer experiences, and people development and retraining. Gaining this holistic perspective and being able to simulate every aspect of the business requires deep data science expertise and AI capabilities. Accenture and ALBERT’s team will bring these to clients to help them succeed in their total enterprise reinvention.” “ALBERT’s philosophy is to connect the world with data science and co-create new value for a better future. As leading companies across industries are investing heavily in AI, we’re seeing growing demand for the technologies and skills that are the core of our business. By joining Accenture, which excels at addressing its clients' most complex opportunities and issues, our team can drive even more value for clients and accelerate the implementation of AI in society.” Takeshi Matsumoto, President, and CEO of ALBERT ALBERT will follow other acquisitions Accenture has made to strengthen its data and AI capabilities for clients globally. These include Analytics8 in Australia; Sentelis in France; Bridgei2i and Byte Prophecy in India; Pragsis Bidoop in Spain; Mudano in the UK; and Clarity Insights, End-to-End Analytics and Core Compete in the US. About Accenture Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology and Operations services and Accenture Song — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 721,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities.

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BUSINESS INTELLIGENCE, BIG DATA MANAGEMENT, DATA SCIENCE

ACA Group Acquires Data Specialist Ethos ESG to Offer First Data Analytics Product

ACA Group | September 26, 2022

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Analytics8 Acquires High-End Data Analytics Consultancy Mashey

Analytics8 | September 23, 2022

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Commvault | November 04, 2022

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Spotlight

The convergence of science, technology, engineering and financial services puts us on the cusp of a new business revolution. For businesses looking to solve complex data challenges or redefine customer relationship and business development processes, Liverpool City Region is leveraging a unique set of nationally-significant science assets to become a leader in exploring the possibilities of knowledge process outsourcing.

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