|[August 23, 2012]
Mocana Secures $25 Million in New Funding
SAN FRANCISCO & PALO ALTO, Calif. --(Business Wire)--
Mocana (News - Alert), a leader in smart device security, today announced it has
completed a $25 million round of Series D funding to scale the company's
Mobile and Device Security Platform, a software and network services
solution for securing connected devices and the information,
applications and services that run on them. Trident Capital led the new
round, which also included participation from current investors Intel
Capital, Shasta, Southern Cross and Symantec (News - Alert). J. Alberto Yépez, Trident
Capital managing director, will join the Mocana board of directors.
"The number of connected devices and mobile applications is exploding,
presenting new security risks for everything from tablets and smart
phones to MRI machines and smart meters," said J. Alberto Yépez,
managing director for Trident Capital. "Mocana is poised to own this
fast-growing, multi-billion dollar market as it possesses deep
intellectual property, a global roster of premier clients and an
experienced team with a proven ability to execute. We look forward to
supporting Mocana to help it seize this significant market opportunity."
Mocana provides software to help IT secure the mobile enterprise, as
well as solutions for device-makers who need to build security into
their products. The Mocana Mobile Application Protection (MAP) solution
gives enterprises fine-grained, cross-platform security management
control over mobile apps, without requiring those enterprises to write
any code, or to have access to the source code of the original app. MAP
works on apps deployed inside the enterprise, and it secures apps
deployed to devices that the enterprise doesn't directly control. Mocana
also recently announced its Security Detail™ solutions which give device
manufacturers a common, open standars-based way to solve security
across entire connected, smart device portfolios.
Mocana produces the Amphion Forum, an exclusive, interdisciplinary event
that brings together thought leaders from academia, business, government
and technology to discuss the threats and opportunities presented by the
unprecedented proliferation of connected devices. The Amphion Forum
gathers device security experts from many different industries to share
solutions and best practices. The next Amphion Forum (www.amphionforum.com)
is scheduled for December 5 in San Francisco.
"We appreciate the confidence our investors have shown in the Mocana
team and our vision for the future of mobile and device security," said
Adrian Turner (News - Alert), Mocana CEO. "We are thrilled to have Trident Capital on
board as a partner for this next phase of growth. Their team's deep
security domain expertise and professional networks in both the public
and private sectors globally will be invaluable."
Mocana has raised $22 million in previous investment rounds.
About Trident Capital
Trident Capital is a leading venture capital and venture growth firm
committed to empowering entrepreneurs to build innovative and industry
leading businesses. Trident invests across multiple stages, from early
startup to growth equity, in the Software, Internet and Business
Services sectors. Trident is particularly recognized for its expertise
and investments in IT Security, Health Care IT, Cloud Computing,
Internet Monetization and Outsourcing. Trident has helped build large
numbers of successful companies within its areas of focus by applying
substantial investment experience, sector expertise and operating skills
as well as broad networks of entrepreneurs and industry executives.
Trident has raised nearly $2 billion of capital across seven funds since
inception in 1993, including the recent $362 million Trident Capital
Fund VII, and has invested in more than 170 companies to date. Trident
is headquartered in Palo Alto (News - Alert), California. www.tridentcap.com.
Launched in 2004 and recognized by the World Economic Forum as a 2012
Technology Pioneer, Mocana provides the only device-independent security
platform that secures all aspects of mobile and smart connected devices,
as well as the apps and services that run on them. Mocana solutions
dramatically increase confidence and compliance for the enterprise,
OEMs, service providers and their customers. Millions of people use
products sold by the more than 200 companies that rely on Mocana
solutions, including Intel, General Electric, Cisco, Honeywell (News - Alert), General
Dynamics, Freescale Semiconductor, LG, Good and Siemens, among others in
the smartphone, data communications, medical device and SCADA-industrial
markets. For more information, visit www.mocana.com.
[ Back To TMCnet.com's Homepage ]