Fixmo, a provider of mobile security and risk management solutions, announced on Tuesday that it has received a strategic investment from Samsung Ventures, the venture capital arm of the Samsung Group.
While the company did not disclose the amount of the investment, they said the new cash would be used to advance research and development in the areas of mobile device integrity verification, data loss prevention (DLP), risk analytics and trusted mobile computing.
With dual headquarters in Sterling, Virginia and Toronto, Canada, Fixmo’s solutions help businesses secure and manage their mobile devices, business applications and private corporate data across company-owned and employee-owned (BYOD) smartphones and tablets.
The company’s mobile solutions have been developed as part of a Co-operative Research and Development Agreement (CRADA) with the U.S. National Security Agency (NSA).
“Samsung Venture Investment Corporation aligns with innovative companies that demonstrate potential strategic fit with Samsung,” said Hyuk-Jeen Suh, Senior Investment Manager with Samsung Ventures America. “Secure enterprise mobility, BYOD and personal privacy protection are some of the most important and exciting areas in the telecommunications market. Fixmo is poised to deliver next-generation solutions that help IT departments, business professionals and consumers remain secure and protected while embracing the next wave of mobility technology trends.”
“The investment from Samsung Ventures will further advance our research and development activities in the areas of mobile security, device integrity verification, adaptive policy management and compliance assurance,” said Rick Segal, CEO with Fixmo. “These solution areas are becoming increasingly important to customers around the world as they embrace Consumerization and the BYOD approach, but cannot sacrifice security, integrity, compliance or employee productivity.”
In August 2012, Motorola Solutions Venture Capital also announced a strategic investment and partnership with Fixmo.
For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.
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