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Karamba Security Names New Executives, Expands its Advisory Board

HOD HASHARON, Israel and BLOOMFIELD HILLS, Mich., March 27, 2018 (GLOBE NEWSWIRE) -- Karamba Security, a world-leading provider of end-to-end automotive cybersecurity prevention solutions for autonomous and connected cars, today named two executives to its management team and two automotive industry powerhouses to its advisory board.

“Karamba Security’s management looked for cybersecurity and automotive industry executives to support our need to scale and meet increasing global market demand for our products,” said Ami Dotan, Karamba Security CEO. “We didn’t want to compromise on domain understanding and good people skills. The wait has paid off.”

New to Karamba Security’s management team is Guy Sagy, a decorated officer and 25-year cyber architect with Unit 8200, the elite technology unit of the Israeli Intelligence Corps, who has been appointed Karamba Security chief technology officer. Assaf Harel, Karamba Security’s co-founder was appointed Karamba’s chief scientist.

Amir Einav, who ran HP’s ArcSight cybersecurity products, and before that global marketing for HP’s telecommunication markets, has been named Karamba Security’s vice president of Marketing.

In addition, Karamba Security has expanded its Chief Technology Officer (CTO) Advisory Board with two industry executives: Paul Mascarenas, former chief technical officer at Ford Motor Company and Bruce Coventry, former Powertrain business unit leader at Chrysler and Daimler and most recently the chairman of TowerSec.

Paul Mascarenas is the 2019 president-elect for SAE International, and is a member of the board of directors for ON Semiconductor and the US Steel Corporation. He is also the immediate past president of the Executive Board of FISITA, the international network for automotive engineers, representing over 200,000 engineers in 37 countries, where he served from 2014-2016.

“Connected cars are transforming the automotive industry. Cybersecurity researchers demonstrated how vulnerable cars are to remote hacks, putting customers at risk and cannot be ignored; these are imperatives for our industry,” said Paul Mascarenas. “Cybersecurity is hugely important to automotive manufacturers who are in need of a preventive solution with zero false positives for modern car cybersecurity threats. I’m excited to be part of the solution to a problem uniquely addressed by Karamba’s autonomous end-to-end prevention software, as evidenced by the interest from several major customers.”

“I am pleased to be joining the Karamba CTO Advisory Board,” said Bruce Coventry. “The quality and experience of the team, the elegance of Karamba’s electronic control unit (ECU) cybersecurity solution, with its zero-false positive approach is the right answer for automotive cybersecurity and other IoT applications. Furthermore, the industry needs a pragmatic implementation option, enabling car manufacturers to have full control of their cybersecurity health status and complete forensics, while minimizing the cumbersome task of security updates and risks involved with potential recalls.”

“We are fortunate to welcome two executives with deep domain experience, as well as two prominent industry leaders in advisory roles to help us scale the company,” says Dotan. “All four bring strategic and operational focus that are essential for our rapid growth. Likewise, we are pleased to continue to benefit from the expertise of our existing advisory board members, Richard Riff, formerly a Henry Ford Technical Fellow and Director of IT, and Dani Harari, former head of Israel’s renowned 8200 unit, as we pursue our mission to provide automotive cybersecurity standards for a more secure driving experience on our roadways. Collectively, their discipline and relationships will help to accelerate our long-term success.”

Karamba Security introduced vehicle cybersecurity to the automotive industry to harden ECUs and in-car communications networks (CAN Bus) and prevent car cyberattacks. The company is engaged with 16 OEMs and tier-1 customers, with more engagements expected in the coming year, while strengthening its advisory board and management team towards this growth. The connected and autonomous car industry is slated to reach $219B by 2025, and Karamba Security is emerging as a key player to ensure the successful transition to an autonomous and connected automotive future.

About Karamba Security
Karamba Security provides industry-leading automotive cybersecurity solutions for autonomous and connected car security. Its autonomous security software products, including Carwall™ and SafeCAN™, provide end-to-end in-vehicle cybersecurity by preventing car cyberattacks with zero false positives and by authenticating communications, including OTA updates, with zero network overhead. Advantages include no connectivity requirements, no updates for Karamba software, and negligible performance impact. Karamba is engaged with 16 OEM and tier-1 customers, and in one year, received three rounds of funding with a total investment of $17 million. In 2018, SafeCAN received the AUTO Connected CAR News’ Tech CARS Award for Best Automotive Cybersecurity Solution. In 2017 Carwall was awarded TU- Automotive’s Best Cybersecurity Product/Service and the North American Frost & Sullivan Award for Automotive New Product Innovation. More information is available at www.karambasecurity.com.

Karamba Security Business Contact:
Amir Einav, VP of Marketing
amir.einav@karambasecurity.com
+1-214-620-7320

Media Contact:
Montner Tech PR
Deb Montner
dmontner@montner.com
+1-203-226-9290

Source: Karamba Security

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