Funds will be used to accelerate the time to market for its best-in-class cybersecurity solutions for the automotive industry
SAN MATEO, Calif.–(BUSINESS WIRE)–#Automotive—Dellfer, an automotive and IoT cybersecurity software company, today announced that DENSO, a leading mobility supplier, and Option3, a specialist cybersecurity private equity firm, have made an $8M joint investment into the company.
Underscoring their long-term commitment, DENSO and Option3 will jointly take control of Dellfer’s board, with Option3’s Operating Partner Lisa Donnan stepping into the role of Chairman. The two companies will provide operational and sales channel support, with Donnan also guiding the company through its acceleration to market in the core automotive sector, and early introduction into new sectors.
With a specialty in cybersecurity for the automotive industry, Dellfer is the first and only company to deliver a holistic solution providing high-level visibility and granular, actionable insights to thwart intrusions in automobiles. According to a recent Market Research Future report, the automotive cybersecurity market is projected to be worth USD 8.94 billion by 2028. The market was valued at USD 2.16 billion in 2020.
“DENSO was an early investor in Dellfer and continues to be a key ingredient in validating our mission and vision of the company,” stated James Blaisdell, co-founder and CEO of Dellfer. “Option3’s world-class strategy and operating expertise in the national security community will be a huge asset for us as they help lead us through our accelerated growth and introduction to this vital marketplace.”
“The requirement for cybersecurity solutions for auto manufacturers has never been stronger,” claims Tony Cannestra, DENSO’s Director of Corporate Ventures and Dellfer board member. “We tested a wide array of available software solutions and found Dellfer’s approach to be highly valuable and a good fit for our customer’s needs. This investment reflects our continuing support for their approach and go-to-market strategies.”
Manish Thakur, Managing Partner at Option3 and Dellfer board member added “This investment underscores Option3’s targeted approach cybersecurity investing, focusing on those areas with greatest future vulnerability, like automobile cybersecurity. As a cyber specialist, we truly believe Dellfer’s approach is the best in the industry. When we find future industry leaders like Dellfer, we will invest at an earlier stage than most generalist private equity firms, and provide both operational support and further capital to support the Company’s growth long into the future.”
As the automotive industry and other IoT environments increasingly require cybersecurity solutions to protect potential vulnerabilities, Dellfer is the only company that can provide the proven protection and traceability that auto manufacturers increasingly require.
Dellfer is an automotive and IoT cybersecurity software company empowering automotive leaders to build security into connected vehicles, protect against unknown threats, and thwart intrusions with unmatched visibility, speed, and accuracy. Dellfer provides an easy-to-deploy, out-of-the box solution, with a user-friendly dashboard for continual over-the-cloud monitoring. Dellfer is unmatched in its ability to deliver a holistic solution with high-level visibility and granular, actionable insights to thwart intrusions. For more information, visit https://www.dellfer.com.
DENSO is a $44.6 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 200 facilities to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company’s 168,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 10.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2021. For more information about global DENSO, visit https://www.denso.com/global.
In North America, DENSO is headquartered in Southfield, Michigan, and employs 27,000+ engineers, researchers and skilled workers across 51 sites in the U.S, Canada and Mexico. In the United States alone, DENSO employs 17,700+ employees across 14 states (and the District of Columbia) and 41 sites. In fiscal year ending March 31, 2021, DENSO in North America generated $9.3 billion in consolidated sales. DENSO is committed to advancing diversity and inclusion inside the company and beyond – a principle that brings unique perspectives together, bolsters innovation and pushes DENSO forward. Join us, and craft not only how the world moves, but also your career: densocareers.com. For more information, go to https://www.denso.com/us-ca/en/.
Option3 is a specialist cybersecurity private equity firm based in New York and Virginia whose team combines expertise garnered in the classified world of U.S. national security with decades of experience across the investment industry. Since its founding in 2015, it has deployed capital into eight companies out of two investment vehicles, targeting those sectors facing the greatest threats and fewest solutions. Option3’s partners bring decades of investment experience that ranges from venture to buyouts, as well as an operational track record in commercializing new technologies and growing existing businesses to scale. Option3 benefits from a Technology Board whose members range from the former Chief Information Officer of the CIA to the former CIO of the Department of Defense. Its Advisory Council is chaired by the former CEO of Lehman Brothers. For more information, visit https://www.option3.com.
REQ for Dellfer