Mocana is a smart device security company that has raised $25 million in Series D funding recently. Mocana plans to use the funding to scale their mobile and device security platform. Trident Capital led this round of funding. Previous investors that joined in this round include Intel Capital, Shasta, Southern Cross, and Symantec. J. Alberto Yépez of Trident Capital will be joining Trident’s board of directors.
Mocana works with companies to help their information technology departments secure the mobile enterprise. Mocana recently announced a new feature called Mobile Application Protection (MAP). MAP gives companies a way to manage cross platform security control over mobile applications without access to to the mobile application source code.
Some of the challenges that enterprises are dealing with include the “consumerization” of IT, personal devices on corporate networks may be vulnerable from security, and there is a need for protecting sensitive corporate data within the apps and not just devices as sandboxing and container technologies are not flexible enough. Mocana’s Mobile App Protection helps protect sensitive corporate data through a unique patent-pending technology known as Appvelope, which “envelopes” fine-grained data access and usage policies around individual apps. Other features built into MAP include the ability to encrypt data stored by a specific app, a copy+paste blocker in order to prevent sensitive data from leaking, data-in-motion encryption, data backup and recovery, and service quality management.
Other key features that MAP has include Geo Fencing, which allows usage of an app within a certain area. Velocity limit prevents app usage when a user is in motion. Time fencing sets the window of time when an app can be used and duration limit limits the amount of time that an app may be used per day.
The company also announced Security Detail solutions, which gives device manufacturers a common and open-standards based way of solving security across connected and smart device portfolios. Mocana customers include Intel, GE, Cisco, Honeywell, Freescale Semiconductor, Samsung, LG, and Siemens.
Up until Mocana started the Amphion Forum, there has not been any event where company representatives from all types of verticals come together to discuss security. This is why Mocana created the event, which is an exclusive and intense event where thought leaders from business, government, and technology discuss potential threats and opportunities of connected devices. The Amphion Forum is designed along the lines of the World Economic Forum and the next one is scheduled for December 5 in San Francisco.
The Mocana Threat Center is a dashboard that identifies threats and vulnerabilities in a particular market segment that are rarely communicated to other industries. The Mocana Threat Center is the only website that collects and analyzes threats to the whole connected device ecosystem. It will work on iOS, Android, medical devices, industrial devices, and consumer electronics. The Threat Center is in private alpha right now.
San Francisco based Mocana raised $22 million in previous investment rounds. Mocana launched in 2004 and they provide the only device-independent security platform that secures all aspects of mobile and smart connected devices as well as the apps and services on them. Millions of people use products sold by the 200+ companies that rely on Mocana’s solutions. The company’s revenue has been 200% year-over-year.
?The number of connected devices and mobile applications is exploding, presenting new security risks for everything from tablets and smart phones to MRI machines and smart meters,? stated J. Alberto Yépez, managing director of Trident Capital. ?Mocana is poised to own this fast-growing, multi-billion dollar market: it possesses deep intellectual property, a global roster of premier clients, and an experienced team with a proven ability to execute. We look forward to supporting Mocana to help it seize this significant market opportunity.?