MobileIron, a provider of management and security solutions for mobile devices, raised another significant amount of cash as it looks to carve a leadership position in the mobile security space. This week the Company announced a $20 million Series D growth financing round, following a Series C round of $16 million that it raised less than a year ago, in August 2010. Less than a year before that, the company raised $11 million in a Series B funding round.
Threats targeting the fast growing smartphone and tablet markets top the list of cyber concerns in 2011. A report from data security firm Imperva, said its experts predict mobile devices being compromised resulting in data theft or loss as a result of lagging security measures such as identification and authentication and the spread of mobile malware. A report released by Juniper Networks earlier this month showed a significant rise in threats to mobile devices, and highlighted a record number of mobile security threats, including a 400 percent increase in malware targeting the Android operating system.
MobileIron says it is experiencing rapid growth, adding 200 enterprise customers in 90 days and increasing its workforce by 30 percent. Indicating a strong vote of confidence in the Company, all four of MobileIron’s current investors, Foundation Capital, Norwest Venture Partners, Sequoia Capital and Storm Ventures, participated in the recent round. The funding will be used to drive growth, accelerate initiatives for existing and emerging mobile platforms, and meet the rapidly growing worldwide market demand for mobile device management and security.
MobileIron’s solutions help companies secure and manage mobile devices, applications, and data in business environments. It also offers an Enterprise App Storefront for app discovery and deployment, letting businesses create private “Enterprise App Stores” and deliver in-house iPhone and iPad apps to their employees without having to post them publicly.
According to a report released earlier this week by Carnegie Mellon University, and McAfee, four in 10 organizations have had mobile devices lost or stolen and half of lost/stolen devices contain business critical data. Additionally, the report revealed that 95 percent of organizations have policies in place in regard to mobile devices, yet, only one in three employees are “very aware” of their company’s mobile security policies, indicating that not only are technology solutions required, but user education and communicating security policies is critical.
“MobileIron manages some of the largest iOS and Android deployments in the world and, from what we’ve seen among our customers and channel partners, this is only the beginning,” said Bob Tinker, CEO, MobileIron. “We are investing in growth to be the go-to leader for enterprise customers for mobile management, security and apps.”