Israeli mobile app security co AppDome raises $13m


AppDome's solution defends mobile apps from attack vectors such as malware, man-in-the-middle, pharming, and data harvesting.

Israeli dynamic mobile application security-as-a-service AppDome has closed $13 million in Series A funding, led by Menlo Ventures. The round includes participation from original investors Jerusalem Venture Partners (JVP) and OurCrowd, together with new investor Draper Nexus.

AppDomes dynamic app wrapping technology protects enterprise and consumer apps along with their data. The solution is used globally to defend mobile apps from attack vectors such as malware, man-in-the-middle, pharming, and data harvesting.

With offices in Tel Aviv and New York, the company was founded by CTO Avi Yehuda.

Recently named by Gartner as the 2015 Cool Vendor in Mobile Security, AppDome offers enterprises the ability to secure their apps by uploading the fully developed APK/IPA to a cloud-based security wrapping service. Following the wrapping process, the company can download a secure version of the app within minutes and distribute it via the App Store or Google Play.

AppDome CEO Tal Gilat said, AppDomes technology is part of a large transformation in mobile application security. Until now, high-level mobile app security has only been available to enterprise apps and was out of reach for customer-facing and partner-facing apps. Our technology makes it possible to seamlessly protect any type of mobile application - including financial, healthcare, and other customer-facing apps.

AppDome CTO Avi Yehuda said, Using a dynamic wrapper is the most effective, scalable and affordable way to provide the highest level of security against the growing threat of known and unknown malware. AppDome recently researched over 100 US-based financial and healthcare apps and found that over 40% were highly vulnerable to very basic confidential data theft, phishing and fraud cyber-attacks.

Menlo Ventures venture partner Avery More said, We have encountered multiple game-changing technologies, and AppDome clearly leads the mobile application security market with a solution requiring minimal time-to-market. As awareness of mobile application vulnerabilities grows, AppDome is uniquely positioned to provide best-in-class security to meet this increasing need.

Draper Nexus managing director Hiro Rio Maeda said, "Today's consumers spend over 100 minutes per day on a smartphone, which is more than they spend on a PC. More transactions and information flow through applications which need to be more secured. Somehow, there is a belief that they are all secured and it is wrong. AppDome technology has great potential under current circumstances at the global scale."

Published by Globes [online], Israel business news - - on November 11, 2015

Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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