Skycure, a mobile threat defense cyber company, completed a $16.5 million series B investment round led by Foundation Capital, the company said July 19.
The company plans to use the funding to expand Skycure’s presence in Europe, the Middle East, and Africa (EMEA) as well as the Asia-Pacific region (APA); broaden its position with Global 1000 customers; and invest in further developing the company’s mobile threat defense platform.
This round raises Skycure’s total funding up to $27.5 million. The company’s previous investors also participated in the round, including Shasta Ventures, Pitango Venture Capital, Skycure customer New York Life, and private investors Peter McKay, and Michael Weider. The company also added Lane Bess, former CEO of Palo Alto Networks, as a private investor in this series.
Skycure provides mobile threat defense products to detect and prevent cyber attacks using predictive technology and a layered approach of crowd-sourced threat intelligence as well as device and server-based analysis to protect mobile devices from malware, network threats, and app/operating system (OS) vulnerability exploits.
Skycure also named Paul Holland, Foundation Capital general partner, to the company’s board of directors as part of the investment agreement.
“Mobile is the biggest challenge to enterprise security today and it requires vastly different considerations than desktop, network, or even cloud security. To me, this investment is one more step in helping our customers meet that challenge,” Adi Sharabani, CEO and co-founder of Skycure, said in a statement.
“Paul Holland’s industry-leading experience scaling sales forces from early stages all the way to the public markets will be crucial in getting us to the next level. We’re excited to have him join our board,” he added.
Skycure highlighted Holland previously invested in Skycure’s partner MobileIron, which makes his appointment the third major enterprise mobility management (EMM) vendor represented on the company’s board. Other board members include former CEO of Zenprise (now Citrix) Jayaram Bhat and Peter McKay, formerly of VMware AirWatch.
“Enterprise mobile security is a burgeoning, multi-billion-dollar market. Skycure’s multi-layered security solutions are the most innovative and comprehensive in that market,” Holland said in a statement.
“With our new funding we can focus more on research and invest more in development, further enhancing our security innovation and expanding our product leadership in the market,” Yair Amit, Chief Technology Officer (CTO) and Skycure co-founder, added,
Skycure added series A funding in March 2015 and since that time the company expanded the amount of devices and active users under its protection by over 400 percent, the company said.