Mocana, a provider of security solutions for embedded and mobile devices, today announced that it has received a strategic investment from GE Ventures.
According to San Francisco-based Mocana, the new funding will be used to expand the company’s product lines, develop its international presence and increase investment in marketing to accelerate adoption of its secure solutions to protect intelligent connected devices for the “Internet of Things” and mobile applications.
The announcement was made at the company’s Amphion Forum event, focused on security, mobility and the Internet of Things, which is taking place this week in San Francisco.
Intelligent connected devices include non-PC devices from industries such as automotive, home appliances and consumer electronics, healthcare, energy, aviation and oil gas. Mocana offers solutions that help developers and manufacturers implement authentication, encryption and policy capabilities to their devices and applications.
GE, which is already a Mocana customer, manufactures products including appliances, consumer electronics, and personal health care products, many which are now Internet enabled, knows that securing these devices is essential.
“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.”
According to Mocana, more than 300 device manufacturers use its cryptography engines to protect their devices in markets such as medical devices, consumer electronics and industrial automation.
Customers sasys its 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 offers a solution to help protect mobile applications in the enterprise. The company’s Mobile Application Protection offering, now distributed globally by SAP and Unisys, lets companies “wrap” their mobile applications, which provides end-to-end security and authenticates mobile users, apps and devices to business systems.
“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.”
Previous investors in Mocana, including Shasta Ventures, Southern Cross Venture Partners, Symantec and Trident Capital, also participated in the round, though the amount raised in this latest investement was not disclosed.
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