Mocana Receives Strategic Investment from GE Ventures
SAN FRANCISCO, December 12, 2013-- Mocana, the device security leader, today announced that it has received a strategic investment from GE Ventures. Existing investors Shasta Ventures, Southern Cross Venture Partners, Symantec and Trident Capital also participated in the round.
The companies’ investments are aligned with Mocana’s efforts to simplify the deployment of secure solutions for the Internet of Things (IoT) and Industrial Internet, and speed enterprise mobility adoption by automating app security. The new funding will be used to expand Mocana’s product lines, build out the company’s international presence and increase marketing activities to expedite deployment of secure IoT solutions and mobile apps, especially in highly regulated industries.
“Mocana’s world-class technology is part of the innovation we are seeing in how services are built and deployed to accelerate the growth of the Industrial Internet and drive a productivity revolution,” said Brett May, Head of Ventures and Business Development, GE Software. “With the increasing proliferation of sensitive data from numerous types of machines and devices, security remains paramount. We are impressed with Mocana’s strong management team and their offering, which we believe will help to better secure the technologies and services we are building for our industrial customers.”
Mocana’s security technology is currently deployed on millions of devices around the world, and more than 300 device manufacturers rely on Mocana cryptography engines to protect their devices in markets such as medical devices, consumer electronics and industrial automation. Customers include Panasonic, Cisco, Honeywell, GE, Siemens, Freescale, General Dynamics, Avaya and Dell, as well as five of the top seven Android handset makers.
Mocana also leads the enterprise app security automation market, where the Internet and smart devices have created new business models and enormous opportunities for consumers and industries by connecting people, machines and data. Mobile security is an important aspect of enabling the growing app economy in enterprise organizations, where corporate data and information and services are leveraged to drive productivity and efficiency gains.
“We are pleased to join GE Ventures’ investment portfolio as one of the companies it believes can make the world work better and more securely, and we appreciate its confidence in our solutions and strategic direction,” said James Isaacs, CEO for Mocana. “This investment will allow Mocana to accelerate key strategic initiatives and cement our position as a security leader.”
In addition to securing the mobile enterprise, Mocana is ideally positioned to provide security solutions for intelligent connected devices for the Internet of Things and Industrial Internet. These devices outnumber PCs and smartphones by five to one, according to analyst estimates, and have been rapidly introduced in a broad range of industries such as automotive, home appliances and consumer electronics, as well as those where the requirements for data security are more complex, including healthcare, energy, aviation and oil & gas. To address the surge in networked devices, Mocana offers authentication, encryption and policy capabilities to provide true security automation in the enterprise.
About GE Ventures
GE Ventures is committed to identifying, scaling and accelerating ideas that will make the world work better. Focused on the areas of software, advanced manufacturing, energy and healthcare, GE Ventures helps entrepreneurs and start-ups succeed by providing access to GE’s technical expertise, capital and opportunities for commercialization through GE’s global network of business, customers and partners. GE Ventures is headquartered in Menlo Park, CA. For more information, please visit http://www.ge.com/company/ge-ventures.
Mocana simplifies wide-scale secure deployments for today’s mobile enterprise and the growing Internet of Things. Recognized as a World Economic Forum “Technology Pioneer” and a Gartner “Cool Vendor,” Mocana stands squarely at the intersection of security, mobility and the Internet of Things, with deep expertise born from a decade securing everything from iOS and Android to implanted medical devices, from defense electronics to point-of-sale, from the smart grid to the home. The company's Mobile Application Protection™ offering, distributed globally by SAP and Unisys, automates end-to-end security and authenticates mobile users, apps and devices to your business systems. More information is available at www.mocana.com.
Media and Analyst Contact for Mocana:
Corman Communications, LLC
Patrick Corman, +1 650-326-9648
Kurt Stammberger, CISSP
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