Oculis Labs, a developer of data privacy software that protects mobile and desktop computers from visual eavesdroppers, today announced a partnership agreement with In-Q-Tel (IQT), the not-for-profit, venture capital arm of the CIA. The company said In-Q-Tel’s relationship and investment would help it accelerate Oculis Labs’ success in both government and commercial markets.
Launched by the CIA in 1999, IQT’s mission is to identify and partner with companies developing cutting-edge technologies that serve the national security interests of the United States. The firm goes beyond investing money alone, and actively engages with entrepreneurs, growth companies, researchers, and investors to deliver technologies that provide superior capabilities for the CIA and the larger Intelligence Community.
There are nearly 400M mobile business and government workers worldwide and three quarters of workers in the U.S. are mobile, working in shared or public spaces, often reviewing and utilizing confidential information. 89% of all people admit to reading over someone else’s shoulder, the easiest way to compromise data. To address this ongoing problem, the Hunt Valley, Maryland based company offers two products – PrivateEye and Chameleon:
• PrivateEye is a data privacy software solution that protects mobile and desktop computers from visual eavesdroppers. This new desktop security application employs computer vision, facial recognition and detection algorithms with a standard webcam to actively protect information displayed on computer screens.
• Chameleon addresses the current government market of 2.9 million users working with sensitive and classified materials as well as many large untapped new markets including multi-agency or multi-national facilities, embassies and consulates, command centers, tactical forward bases, and in-field mobile personnel where information should be available on a need-to-know only basis. Chameleon solves the unmet need of protecting data in the field against electronic or physical surveillance and insider espionage threats.
“In-Q-Tel understands and supports the mission of innovative technology companies like Oculis Labs in developing products for both commercial and government markets,” said Bill Anderson, CEO of Oculis Labs. “Our relationship with IQT will drive further market success as a result of their support, relationships and strategic advice.”
“Oculis Labs is an important addition to our investment portfolio and we are excited about this technology’s ability to address a critical need in information security, protecting the last two feet of the network,” said T.J. Rylander, Partner on IQT’s Investments team. “Oculis Labs’ technologies offer a vital new capability in securing computer systems against a wide range of insider and outsider threats.”
Other notable investments made by In-Q-Tel in the space include Silver Tail Systems, FireEye (March 2009), Veracode (June 2008), and in November 2002 the firm reportedly invested $3 million in ArcSight, which was acquired by HP for $1.5 billion. In-Q-Tel has a track record of not disclosing the details of its investments and agreements, and the financial terms of the Oculis Labs deal were not disclosed.