Dellfer Secures Funding to Further Enhance Cybersecurity Capabilities

Summary: According to a recent Market Research Future analysis, the automotive cybersecurity market is expected to be valued at USD 8.94 billion by 2028.

FREMONT, CA

“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,” he adds while remarking on Dellfer, a cybersecurity software startup for automotive and IoT receiving an eight million dollars investment from DENSO, a leading mobility supplier, and Option3, a specialist cybersecurity private equity firm.

Option3 and DENSO will jointly take control of Dellfer’s board, with Option3 Operating Partner Lisa Donnan assuming the role of Chairman, demonstrating their long-term commitment. Donnan will lead the company through its acceleration to market in the core automotive industry and early introduction into new sectors. The two companies will offer operational and sales channel support.

Dellfer is one of the first and only businesses to give a holistic solution that provides high-level visibility and detailed, actionable insights to thwart intrusions in autos, with a specialized in cybersecurity for the automotive industry. According to a recent Market Research Future analysis, the automotive cybersecurity market is expected to be valued at USD 8.94 billion by 2028. In 2020, the market was estimated to be worth USD 2.16 billion.

“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. “Option3s 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.”

Manish Thakur, Managing Partner at Option3 and Dellfer board member, added, “This investment underscores Option3s targeted approach cybersecurity investing, focusing on those areas with greatest future vulnerability, like automobile cybersecurity. As a cyber-specialist, we truly believe Dellfers 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.”