Mobile Security Firm Gets $25 Million
Mocana has now raised a total of $47 million since its founding in 2004.
Mocana this week announced that it has completed a $25 million round of Series D funding led by Trident Capital, with participation from current investors Intel Capital, Shasta Ventures, Southern Cross Venture Partners and Symantec.
"Mocana has raised $22 million in previous investment rounds," writes Digital Media Wire's Chris Marlowe. "The company’s existing customers include Intel, General Electric, Cisco, Honeywell, General Dynamics, Freescale Semiconductor, LG, Good and Siemens, among others."
"Trident Capital managing director J. Alberto Yépez is joining Mocana's board of directors as part of the deal," writes The San Francisco Business Times' John Sailors.
"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," Yépez said in a statement. "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."
"Founded in 2004 and based in San Francisco, Mocana offers Mobile Application Protection software for securing Apple iOS and Google Android devices by wrapping apps in an encryption-based process," writes Network World's Ellen Messmer. "Mocana also interacts with device manufacturers with its Security DetailIT products. Its encryption modules have achieved FIPS 140-2 encryption validation, a plus with potential U.S. federal government buyers."