Fixmo, Inc., a Toronto-based provider of mobile security and risk management solutions for enterprise and government clients, has obtained a strategic investment from Samsung Venture Investment Corp., the investment arm of Korea’s Samsung Group. The financial terms of the deal were not disclosed. Fixmo has raised over C$30 million in financing rounds since 2010. Its Canadian and US venture backers include Extreme Venture Partners, Horizon Ventures, iNovia Capital, Kleiner Perkins Caufield and Byers, Motorola Ventures, Paladin Capital, Panorama Capital and Rho Canada Ventures.
Fixmo Secures Strategic Investment from Samsung Ventures
Fixmo, the leader in mobile security and risk management solutions for public and private sector organizations, today announced that it has received a strategic investment from Samsung Venture Investment Corporation (Samsung Ventures), the venture capital arm of the Samsung Group. The funding will be used to advance research and development in the areas of mobile device integrity verification, data loss prevention (DLP), risk analytics and trusted mobile computing.
Fixmo’s mobile security products are used by Government agencies and Enterprise customers around the world for securing and managing their mobile devices, business applications and private corporate data across company-owned and employee-owned (BYOD) smartphones and tablets. These enterprise products include Fixmo Sentinel, the enterprise mobility platform for securing mobile devices and monitoring system integrity; Fixmo SafeZone, the defense-grade secure container for keeping corporate email, data and apps encrypted, contained and under IT control no matter who owns the device; and Fixmo AppZone, a comprehensive mobile application management (MAM) solution for deploying, monitoring and supporting mobile apps in the enterprise.
Fixmo also recently entered the consumer mobile security market when it announced that it is powering the white-labeled “3 Super Safe” personal mobile security and protection solution for 3 Hong Kong, a division of Hutchison Telecommunications Hong Kong Holdings Limited.
“Samsung Venture Investment Corporation aligns with innovative companies that demonstrate potential strategic fit with Samsung,” said Hyuk-Jeen Suh, Senior Investment Manager with Samsung Ventures America. “Secure enterprise mobility, BYOD and personal privacy protection are some of the most important and exciting areas in the telecommunications market. Fixmo is poised to deliver next-generation solutions that help IT departments, business professionals and consumers remain secure and protected while embracing the next wave of mobility technology trends.”
“The investment from Samsung Ventures will further advance our research and development activities in the areas of mobile security, device integrity verification, adaptive policy management and compliance assurance,” said Rick Segal, CEO with Fixmo. “These solution areas are becoming increasingly important to customers around the world as they embrace Consumerization and the BYOD approach, but cannot sacrifice security, integrity, compliance or employee productivity.”
Samsung Ventures is the second venture capital group to make a strategic investment in Fixmo in the past six months. In August 2012, Motorola Solutions Venture Capital also announced a strategic investment and partnership with Fixmo. Terms of the Samsung Ventures investment were not disclosed. Prior to the investment from Samsung Ventures, Fixmo had raised over thirty million dollars through three series of funding.
About Samsung Venture Investment Corporation
Samsung Venture Investment Corporation manages investment and investment-related activities for Samsung affiliate companies. The investment mandate for Samsung Venture Investment Corporation tracks closely to the strategic priorities of Samsung affiliate companies’ core operating divisions, and encompasses investments in semiconductors, displays, telecommunications, and consumer electronics.
Fixmo Inc. is the mobile risk management company that helps organizations identify, mitigate and manage the risks associated with mobile devices in the workplace. The company’s MRM solutions enable protected and compliant mobile computing, helping organizations embrace a wide range of mobile devices and applications while maintaining system integrity, protecting confidential data and proving regulatory compliance. Fixmo’s MRM technology has been developed as part of a Co-operative Research and Development Agreement (CRADA) with the U.S. National Security Agency (NSA). Fixmo is headquartered in Sterling, Virginia and Toronto, Canada (http://fixmo.com).
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