Argus raises $4M to keep car hackers at bay

Well, here’s a reassuring thought: Your car can get hacked.

This is nothing new, but as cars get more connected to the Internet, the threats are becoming more and more prevalent. Argus, an Israeli company that provides an Intrusion Prevention System (IPS) that prevents a car’s main components from being hacked, could help fight this, and the company announced today that it has raised $4 million in new funding.

What’s really scary about these hackings is that it’s been demonstrated that hackers can manipulate steering, acceleration, speedometers, safety sensors, and more. Argus’s IPS can be integrated into cars during manufacturing, and it can also remotely monitor a car’s health. The company will use the new funds to continue developing its security solutions and grow its market reach.

“Argus helps car manufacturers and their suppliers promote innovation and vehicle connectivity by mitigating the rising risk to human lives and property,” Argus co-founder and board chairman Zohar Zisapel told SecurityWeek. “This will enable manufacturers to avoid costly and massive recalls.”

Argus also offers consulting services to car manufacturers, helping them find threats or vulnerabilities in their cars’ networks.

The company raised its new funding from Magma Venture Partners, Vertex Venture Capital, and Zohar Zisapel.

Argus was founded in 2013 by Oron Lavi, Yaron Galula, and Ofer Ben Noon and is based in Tel Aviv, Israel.

Via SecurityWeek