The independent venture capital firm of BMW Group, BMW i Ventures, announced its participation in a $12 million Series B funding round for RunSafe Security, a leading cybersecurity firm specializing in software ‘immunization’.
From offices in Silicon Valley and Munich, BMW i Ventures invests in early to growth-stage companies defining the future of automotive, sustainability, manufacturing, and supply chain. Since starting in 2011, the firm has $800M under management and has invested in over 75 startups, including Bcomp, Boston Metal, CelLink, ChargePoint, GaN Systems, Motorway, Tekion, and Xometry.
RunSafe Security, known for its patented process that protects software from cyberattacks without disrupting developer operations, will utilize the funding to accelerate product development and expand its market reach in EMEA and APAC. The company’s success is evident in its remarkable growth, with back-to-back years of tripling annualized revenue, and its solutions have been adopted by industry leaders across various sectors, including aerospace, defense, and energy.
Kasper Sage, Managing Partner at BMW i Ventures, stated, “Memory attacks pose an increasing threat to embedded systems within connected devices. RunSafe’s cybersecurity technology immunizes memory-based systems from unknown vulnerabilities and future attacks. BMW i Ventures is committed to advancing safety and security measures across the automotive supply chain and beyond and is excited to partner with Joe and the RunSafe team to support their mission.”
The investment round was led by Critical Ventures and SineWave Venture Partners and also includes Working Lab Capital, Lockheed Martin Ventures, HyperLink Ventures, Iron Gate Ventures, Alsop Louie Partners, and NextGen Venture Partners. “This investment round will enable us to accelerate our efforts in delivering innovative solutions that protect critical systems from cyber attacks, without the need for extensive code rewrites,” said RunSafe CEO, Joe Saunders.
“RunSafe’s products have been adopted by industry leaders such as Vertiv, Schneider Electric, and GE Aviation, as well as esteemed branches of the U.S. military, including the Army, Navy, and Air Force,” added Saunders. “With the expansion of the RunSafe Security Platform, we solidified our position as cybersecurity crusaders, offering automated solutions for SBOM generation, vulnerability identification, and exploit prevention and remediation for embedded software deployed throughout critical infrastructure.”
This investment further solidifies BMW i Ventures’ position as a key player in driving innovation and security within the automotive industry and beyond.
Read the full press release here.
Tags: BMW i Ventures cybersecurity