security1

Bluebox Security Closes $18M Series B Funding Round

Add Your Comments

Bluebox Security, a mobile security company, announced on Monday that it has closed an $18 million Series B funding round to scale sales and marketing to meet increasing demand.

The new funding brings its total amount raised to $27.5 million. Bluebox closed a $9.5 million Series A round in July 2012.

Participants in the Series B round include Tenaya Capital as well as Andreessen Horowitz, Sun Microsystems co-founder Andreas Bechtolshiem, and SV Angel. Brian Melton from Tenaya Capital will join the company’s board of directors.

“Existing mobile security solutions are modeled on an outdated perspective of mobile use that does not meet current demand,” Brian Melton, managing director, Tenaya Capital said. “As companies give employees more access to corporate information via mobile devices, they need a solution that meets the needs of both the business and employees. The strong endorsement across Bluebox’s beta customers validates that Bluebox has developed an innovative mobile security solution that enterprises want.”

As employees continue to use their own devices in the workplace, concerns around security remain. Recently, a report by DDoS protection provider Prolexic Technologies, showed that downloadable mobile apps are being used in DDoS attacks against enterprises.

“Many companies have invested in mobile security solutions that focus on the device, but don’t address the core issue of mobile security,” Caleb Sima, CEO and co-founder, Bluebox Security said. “We founded Bluebox with a unique approach to mobile security that focuses on what really matters — data. We welcome Tenaya Capital to our team of investors and are excited to have their support as we work to change how mobile security is done today.”

Recently, IBM acquired mobile security and management provider Fiberlink, the maker of mobile device management solution, MaaS360.

Add Your Comments

  • (will not be published)