Bitglass secured $25m in funding, bringing its total amount secured to over $35m
Mobile security startup Bitglass, which emerged from stealth earlier this year, announced that it has secured $25m in funding that will be used to expand sales, marketing and technology development of Bitglass’ mobile data protection solution.
The recent funding adds to the $10m the company secured earlier this year. New investors include a “large global bank” and SingTel Innov8, the venture investing arm of Singapore-based telecoms firm SingTel Group.
“We are honored to attract capital from investors with a first-hand understanding of the markets we serve,” said Nat Kausik, chief executive officer and co-founder of Bitglass. “The fresh capital will enable us to accelerate innovation and growth.”
Bitglass offers a mobile security solution that operates almost like a SaaS-based single sign-on solution. It funnels mobile data through its proxy server – where it is automatically earmarked, allowing it to be tracked and managed through policies.
Unlike traditional mobile device management and mobile cloud security it doesn’t require an app or mobile device profile on the device to work, nor does the data have to go through a corporate network. It can be applied to nearly any cloud service.
“Data security takes centre stage in this era of cloud and mobile,” said Jeff Karras, managing director of SingTel Innov8. “Bitglass is a leader in the US and we look forward to helping them gain global momentum.”
Bitglass emerged from stealth at a time when it seemed like MDM and cloud security solutions were hitting the market at a rate of one per week, no doubt a response to increased uptake of cloud services and a marked shift towards more mobile, flexible workstyles.
As a result, security-focused MDM is looking likely to play a leading role in enterprise IT strategies this year. Dell, which commissioned independent tech specialist Vanson Bourne to interview 1440 IT pros globally, said its most recent research showed nearly 90 per cent of IT pros plan to prioritise cloud and mobile security spending this year, and nearly one fifth of IT budgets will go directly towards IT security services.