Blue Cedar, a San Francisco-based company that specializes in securing mobile applications, on Tuesday announced that it raised $17 million in a Series B funding round.
The funding round was led by new investor C5 Capital, a venture capital firm that focuses on cybersecurity, cloud and data analytics, with participation from existing investors Benhamou Global Ventures (BGV), Generation Ventures, Grayhawk Capital and Sway Ventures. Blue Cedar previously raised $10 million in a Series A funding round announced in 2016.
Daniel Freeman, managing partner at C5 Capital, will join the company’s board of directors as part of the deal.
Blue Cedar says it plans on using the newly obtained funds to accelerate growth and enhance its solutions.
“C5 Capital invests in companies that enable enterprises to generate more value from their data — securely and at scale,” Freeman commented. “Technology that enables ‘silent’ integration of cyber security is at the top of every CISO’s wish list, because it makes consistent application of enterprise-grade solutions easy and seamless. In a short time, Blue Cedar has forged impressive go-to-market partnerships to address the needs of large corporations. The company and its dynamic management are perfectly placed to successfully address a major need in the cyber security marketplace.”
Blue Cedar’s technology is designed to help mobile application developers secure their products by allowing them to easily integrate encryption, authentication and other security services without requiring them to write any code.
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