Mocana Secures $25 Million in New Funding
Mocana, 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. 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 standards-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, 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, 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, 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.