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Secure Document Sharing Firm WatchDox Lands $12 Million in Funding

WatchDox, a provider of enterprise solutions to access, share and control sensitive documents, today announced that is has received a $12 million investment, bringing total company funding to-date to $35 million.

As part of the financing, WatchDox closed the acquisition of InstallFree in December 2012, a developer of application portability, virtualization and access solutions.

WatchDox LogoThe investment came from Millennium Technology Value Partners, which has joined existing WatchDox investors Blackstone (NYSE: BX), Gemini Israel Funds, Shasta Ventures and security industry veteran Shlomo Kramer (co-founder of Check Point and Imperva).

The new financing will help WatchDox to expand its sales team and grow its customer base across a wide range of industries, the company said.

“As an investor in a number of leading mobile companies, we believe the growth of mobile computing is transformative for enterprise productivity,” said Millennium’s Dan Borok, principal. “However, with the promise of enhanced productivity comes the problem of securing critical corporate data on mobile devices and outside the walls of the enterprise.”

According to the company’s web site, more than 500 enterprises around the world use WatchDox solutions to protect their business-critical information. “Available as SaaS or on premise, the WatchDox document-centric security platform allows organizations to collaborate with partners, adopt bring your own device (BYOD) initiatives, and control or wipe their documents remotely, all while providing their users a superior experience across every device,” the company explains.

“Millennium’s investment in WatchDox reflects its continuing interest in high-growth companies that are leaders in their respective industries," said Moti Rafalin, CEO of WatchDox. "Joining WatchDox in Millennium’s portfolio of successful companies reinforces the feedback we hear from enterprises, which are realizing that the right strategy is to provide their users the file sync and sharing capabilities they want, while ensuring that IT gets the persistent control, tracking and revocation capabilities needed to stay protected and compliant.”

More information on WatchDox is available here.

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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.