Trillium Raises $11M in Series A2 Funding Led by JAFCO
SUNNYVALE, CA, Jul 04, 2018 - (ACN Newswire) - Trillium Secure, Inc. (Trillium), the global leader in cybersecurity protection and secure data management for vehicles and fleets, today announced an $11M round of Series A2 funding led by JAFCO, with participation from other investors including Airbus Ventures, Deutsche Bahn Digital Ventures, Mitsubishi UFJ Capital, Tokyo Century Corporation and Plug and Play Ventures.
The funds will be used for expanding Trillium's product engineering, sales & marketing and customer support services to meet its rapidly growing global base of customers, partners and project deployments. The latest round brings Trillium's total funding to $15M.
"We believe Trillium's revolutionary business model and multi-layered approach raise the bar for hackers and Trillium's competitors in the race to secure and protect vehicles and driver data," said Shinichi Fuki, President & CEO of JAFCO, Japan's largest venture capital firm with $3.2 billion in total commitments. "Effective cybersecurity solutions such as Trillium's are key to helping ensure a smooth transition to the connected and autonomous vehicles of today and tomorrow."
The company's Trillium Secure subscription service defends against cyber-attacks and ensures the safety, privacy and integrity of data through a patented suite of software products. The Trillium Secure multi-layered suite of products includes SecureGO, SecureIXS, SecureOTA and SecureSKYE.
"We support entrepreneurs with unique ideas, value added solutions and disruptive business models. Trillium represents these elements and is exactly the type of partner we want when making strategic investments," said Lewis Pinault, Managing Investment Partner, Japan & Asia Pacific, Airbus Ventures, the investment arm of the European multinational aircraft manufacturer. "Trillium has developed an effective lifecycle solution to securing mission critical data suitable for use across the transportation industry."
"A strong partner for cybersecurity is crucial when it comes to operating connected vehicles and fleets. We see Trillium as one of the leading players in the market and look forward to supporting its expansion in Europe," says Boris Kuhn, Managing Director of Deutsche Bahn Digital Ventures, the venture capital division of Deutsche Bahn.
Globally, the transportation market is going through dramatic changes with an ever-increasing number of vehicles connecting to the internet making their control, communication and entertainment systems vulnerable to cyber-incursions. The digitization of core vehicle functions has led to rapid growth in the market to protect connected vehicles from cyber threats.
"Analysts estimate the transportation industry cybersecurity market will top $22 billion by 2030," said David Uze, President and CEO of Trillium. "With this round of investment, Trillium is positioned to capture a significant share of the vehicular cybersecurity assurance market."
Due to recently enacted privacy laws like the European Union's General Data Protection Regulation, as well as California's Consumer Data Privacy Law, vehicular data lifecycle cybersecurity assurance is among the most important issues we will face.
"Under the expansion of the connected car market and development of autonomous driving technology, cybersecurity assurance over the vehicle must be the most important issue we will face. We see Trillium as an excellent investment because of its advanced technology on cybersecurity over the automobile," said Mr. Yoshito Kitagawa, President, Business Development Unit, Tokyo Century Corporation, a Japan-based leasing and financing company whose business includes auto leasing and car rental. "We empower businesses like Trillium and are pleased to support Trillium's continued customer expansion and product development efforts."
"Mitsubishi UFJ Capital, as part of Mitsubishi UFJ Financial Group, the Japan-based banking and financial services group, finds that Trillium's business model aligns with their core values of protecting customer assets and safeguarding the privacy and value of vehicular data," said Mr. Muneki Handa, President of Mitsubishi UFJ Capital. "Trillium enables value added services for fleets and other value chain partners by securing and aggregating increasingly robust pools of that data."
"We seek to invest in companies that are creating the businesses of tomorrow," said Ivan Zgomba, Partner at Plug and Play Ventures, one of the most active early stage investors in Silicon Valley. "In a very short time, Trillium has established itself as a leader in vehicular cybersecurity and data protection, and we are thrilled to be part of its journey."
About Trillium Secure, Inc.
Trillium delivers comprehensive cybersecurity protection and secure data management for vehicles and fleets. Its Trillium Secure subscription service utilizes multi-layered cybersecurity technology that hardens connected and autonomous vehicles and fleets against cyber-attacks. Trillium also offers an authenticated operational and threat management data solution for fleet vehicles that preserves privacy, confidentiality and anonymity of data while at rest and in motion. Trillium serves fleet operators, rideshare services, vehicular OEMs, aerospace and defense organizations, insurance companies, mobile carriers and telematics integrators with its proprietary multi-layered, patented and patent pending solutions and services. Value-added service providers trust secure, authentic data from Trillium for car sharing, digital forensics, preventive maintenance, telematics, usage-based insurance and other services. Trillium's design centers and fleet security operation sites are located in Sunnyvale, Ann Arbor, Ho Chi Minh City and Tokyo. Trillium will open a European design center in the third quarter of this year. For more information visit www.trilliumsecure.com.
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About Trillium Secure, Inc.
Trillium Secure, Inc. is the world's largest independent automotive IoT cybersecurity provider. Trillium's multi-layered offering includes lightweight encryption, authentication, cryptographic key management, IDS/IPS and secure over-the-air software update technology. The company operates design & fleet security operation centers in Silicon Valley, Detroit, Brno (CZ), Ho Chi Min City and Tokyo. For further information, please visit www.trilliumcyber.com.
Trillium Secure, Inc. products are marketed under the Trillium, SecureIoT, SecureCAR, SecureIXS, SecureOTA, and SecureSKYE trademarks.
Source: Trillium Secure, Inc.
Sectors: Daily Finance, Security, Automotive, Banking, Venture Capital, IoT
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