Enterprise mobile security startup Wandera has completed a total $27.5 million Series C equity and venture debt financing round. New investor, Sapphire Ventures led the round with participation from existing investors, Bessemer Venture Partners and 83North, bringing the company’s total funding to date to $50 million. As part of the new investment, Andreas Weiskam, managing director at Sapphire Ventures, will join the Wandera Board of Directors.
Wandera plans to use the funding to expand its global footprint and further develop its gateway technologies, in particular its intelligence engine, MIRIAM, designed to identify zero day threats and surface new analytic insights using a sophisticated blend of machine learning and data science techniques. Just last week, MIRIAM detected 400 new variants of the dangerous SLocker ransomware, previously thought to have been eradicated. The power of MIRIAM comes from its unmatched visibility into mobile data - in 2016 the gateway scanned 26 billion mobile web requests including 700,000 unique apps and over 10 million plus web domains.
The company, which has offices in Tel Aviv, San Francisco, London, and Brno in the Czech Republic was founded by president Roy Tuvey and CEO Eldar Tuvey, both Israelis who have relocated to California. The company currently has five employees in its Tel Aviv but plans expanding its workforce in Israel.
Roy Tuvey said, “This funding is a real testament to the team and technology we have built here at Wandera. We are thrilled to partner with Sapphire Ventures, a leading growth investor with an impressive track record in identifying global market leaders including a number of high profile IPOs. They have demonstrated clear expertise in our area of enterprise software, particularly given their history and relationship with SAP. We are looking forward to working together to rapidly scale our pioneering cloud mobile gateway, and provide global enterprises a single integrated platform for mobile security and policy.” The new financing follows a year in which Wandera increased its number of Fortune 500 clients fivefold and is now growing bookings at 250% year on year. Major global deployments include leading organizations in healthcare, finance, technology and professional services. “After thoroughly researching the mobile security and policy market, we see a winning technology leader in Wandera and its differentiated secure gateway. Mobile risk control, including threat defense, is a rapidly growing market and enterprises must prioritize an investment in mobile security solutions to ensure mobile employees have seamless, secure access to applications,” said Andreas Weiskam of Sapphire Ventures. “Very quickly we recognized the strength of Wandera’s cloud architecture and the effectiveness of its technology to identify emerging threats and enable proactive policy actions. We are excited to partner with this experienced leadership team right at the forefront of their market."
Published by Globes [online], Israel business news - www.globes-online.com - on May 18, 2017
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