MDM firm AirWatch secures $200 million in equity funding
Mobile device management firm AirWatch has secured $200 million in equity funding from an investor group led by Insight Venture Partners.
AirWatch will use the money for strategic acquisitions, global expansion and promotion of its Secure Content Locker platform.
BYOD security appears to be a focus of AirWatch's recent efforts. Earlier this month, AirWatch announced a partnership with ForeScout, a network access control vendor, to provide a BYOD product to manage and secure personally-owned mobile devices in the workplace.
"The combination of NAC with MDM technologies offers organizations the means to easily identify who and what type of device is connecting to the enterprise, to automatically enroll and monitor roles-based controls for any device and user, and to secure the movement of corporate data across smartphones and tablets," said Chris Hazelton, research director for mobile and wireless at 451 Research.
In January, AirWatch unveiled a standalone mobile application management product that includes an app wrapping security engine for BYOD and corporate-owned mobile device ownership models. The app wrapping engine enables developers to add security features to internal apps without writing additional source code.
AirWatch has been on a tear over the last few years, posting revenue growth of 318.8 percent in 2010 and 2011, according to IDC stats.
IDC predicts that the MEM market will increase at a 31.8 percent compound annual growth rate, reaching $1.8 billion by 2016. With the additional funding, AirWatch is well positioned to take advantage of that projected growth.