MobileIron Confirms $16 Million VC Round

MobileIron Inc., a Mountain View, Calif.-based developer of a virtual smartphone platform, announced that it has raised $16 million in Series C funding. Foundation Capital led the round, and was joined by return backers Storm Ventures, Sequoia Capital, Norwest Venture Partners and Big Basin Ventures.

peHUB previously reported on the deal, based on a regulatory filing.

PRESS RELEASE

MobileIron, the innovator in multi-OS smartphone management, today announced its $16 million Series C financing round. Foundation Capital joined existing investors Norwest Venture Partners, Sequoia Capital, and Storm Ventures. The investment was led by Paul Holland, general partner with Foundation Capital. The funding will support MobileIron’s ongoing business expansion and investment in innovation.

As smartphones and other mobile devices such as iPads become more pervasive computing platforms, IT departments have recognized that they cannot address and manage mobile devices the same way they do computers.  The MobileIron Virtual Smartphone Platform is the only platform that lets companies manage smartphone data, privacy, security, and cost across multiple operating systems using a single technology solution.

“Enterprise mobility is a big market and this investment recognizes MobileIron’s leadership,” said Bob Tinker, CEO of MobileIron. “Foundation brings significant experience and expertise to the table and we’re honored to have them as an investor.  We’re excited about the next phase of our company’s growth and continuing our work with our partners and customers to develop technology that solves real business problems.”

“We’re really excited about the opportunities for mobility in the enterprise and think MobileIron is ideally positioned for growth,” said Paul Holland, general partner, Foundation Capital. “In less than a year, MobileIron has established an impressive track record of innovation and customer momentum and it’s clear to us that the company is poised to be a major player in enterprise mobility as the market matures.”

About MobileIron

A Gartner Cool Vendor for 2010, MobileIron is solving the problems CIOs face as business data moves to the smartphone. The MobileIron Virtual Smartphone Platform is the first solution to give IT and users real-time intelligence and control over smartphone content, activity, and apps in order to secure the enterprise, reduce wireless cost, and improve the mobile user experience. MobileIron’s investors include Foundation Capital, Norwest Venture Partners, Sequoia Capital, and Storm Ventures. For more information, please visit www.mobileiron.com.

About Foundation Capital

Foundation Capital is a venture capital firm driven by the singular goal of changing the world — about leaving it a better place – by building great companies.  It is this entrepreneurial spirit along with a deep technical expertise that gives the partners the understanding, perspective, and enthusiasm to help promising companies in their formative stages. Foundation Capital targets innovative opportunities in cleantech, consumer Internet and infrastructure; telecommunications and networking; and enterprise software and on-demand services. Foundation Capital maintains investments in nearly 70 ventures, including Calix, Financial Engines, Netflix and Silver Spring Networks. For more information, visit www.foundationcapital.com.

About Norwest Venture Partners

Norwest Venture Partners (NVP) is a global venture and growth equity investment firm that manages more than $3.7 billion in capital.  It has offices in Palo Alto, California, Mumbai and Bengaluru, India and Herzelia, Israel.  NVP makes early to late stage venture and growth equity investments in U.S. and global companies across a wide range of sectors including: information technology, business services, financial services and consumer.  NVP has actively partnered with entrepreneurs to build great businesses for more than 49 years and has funded over 450 companies since inception. For more information, please visit www.nvp.com.

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