Copiun, a provider of secure mobile collaboration solutions has closed the final tranche of its $5 million Series A funding led Novak Biddle Venture Partners. Additional investors include RRE Ventures and local angel investors. Headquartered in Marlborough, Mass, Copiun was founded in late 2008.
Copiun Inc., provider of the first and only secure mobile collaboration solution with end-to-end data governance, today announced that it has closed the final tranche of its $5 million Series A funding led by venture capital firm, Novak Biddle Venture Partners. The company met all performance milestones required to initiate the latest investment, having expanded both its customer base and revenue tenfold in 2011. In addition, Copiun established new partnerships and grew its product portfolio over the past six months.
Additional investors in this completed Series A include RRE Ventures and local angel investors. Together, the financial and corporate investments will help the company continue accelerating growth through sales and marketing. “It’s an exciting time in mobility and Copiun is at the center of the debate over mobile productivity and data security,” said PV Boccasam, general partner at Novak Biddle and member of the Copiun Board of Directors. “The company is poised for more growth, enabling secure collaboration across the globe.”
“We are honored that Novak Biddle and such a distinguished group of investors continue supporting Copiun in our mission to unleash mobile worker productivity while giving IT complete governance over mobile documents,” stated Puneesh Chaudhry, CEO and co‐founder of Copiun. “Our products are proven, the right team is in place and sales growth is strong. We know we’re riding a global wave of mobile adoption that keeps accelerating in size and speed.”
Converging Global Trends
Copiun attributes much of its growth to two related phenomena now confronting corporate executives: the Consumerization of IT (CoIT) and Bring Your Own Device (BYOD) to work. According to a report from market analyst firm, Gartner*: “Consumer-grade personal file synchronization services are creating huge potential for data leakage, version conflicts and compliance gaps. End-user demand to support home PCs and personal tablets is forcing CIOs into one of three decisions: allow users to do whatever they want; provide an approved and controlled service; or totally forbid the use of such services.” An added point of concern driving the search for secure mobile document collaboration solutions is employee churn. Personal devices and the apps on those devices are owned by individuals, not the companies they work for. When employees using consumer-grade personal file synchronization solutions leave an organization, they take the account and the corporate data with them. Copiun is breaking new ground by ensuring the security, and ownership, of corporate information on employee personal devices.
Customer and Revenue Growth
During 2011, after releasing its initial product at the end of 2010, Copiun increased its customer and revenue base tenfold. The customer roster now spans a wide array of industries including automotive, business services, consumer goods, education, entertainment, financial and insurance, government, manufacturing, non-profit, sports, retail, technology and utilities. It includes household brands and blue chip global companies that validate Copiun’s ability to deliver scale for thousands of users in geographically dispersed locations.
Over the past year, Copiun has forged alliances with leading mobile device management, mobile application management and mobile office solution providers. Additionally, the company has signed several reseller partners and continues expanding its partner network on many important fronts.
Copiun continues releasing new versions of its secure mobile collaboration software, which is currently the only solution that lets mobile workers securely access and collaborate on corporate documents through its unique TrustedShare™ technology, with no VPN, firewall re-configurations or duplicate data stores. Puneesh Chaudhry concluded, “Our vision is to allow hundreds of millions of mobile workers to collaborate instantly on documents from devices of choice with no compromises to corporate data security.”
*Gartner, How to Control File Synchronization Services and Prevent Data Leakage, 31 January 2012
Headquartered in Marlborough, Mass., Copiun, Inc. is a venture-backed start-up that was founded in late 2008. Copiun provides the first and only secure mobile collaboration solution with end-to-end data governance. Through its unique technology, Copiun TrustedShare™ lets mobile workers access and share corporate documents, while ensuring IT complete document lifecycle control. Enterprises count on Copiun to power instant mobile worker productivity with no compromises to their corporate data. Copiun’s products are used by more than 200 enterprise customers globally.