August 23, 2012, 2:21 PM — Mocana Thursday disclosed it has received $25 million in new venture capital funding led by Trident Capital, which sees the startup as a potentially major player in mobile security.
Founded in 2004 and based in San Francisco, Mocana offers Mobile Application Protection software for securing Apple iOS and Google Android devices by wrapping apps in an encryption-based process. Mocana also interacts with device manufacturers with its Security DetailIT products. Its encryption modules have achieved FIPS 140-2 encryption validation, a plus with potential U.S. federal government buyers.
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"The number of connected devices and mobile applications is exploding, presenting new security risks for everything from tablets and smartphones to MRI machines and smart meters," said J. Alberto Yepez, Trident Capital's managing director. "Mocana is poised to own this fast-growing, multibillion dollar market as it possesses deep intellectual property, a growing roster of premier clients and an experienced team with a proven ability to execute." Yepez will be joining Mocana's board.
Other Mocana investors include Intel Capital, Shasta, Southern Cross and Symantec. Mocana said it had raised $22 million in previous investment rounds.
Ellen Messmer is senior editor at Network World, an IDG publication and website, where she covers news and technology trends related to information security. Twitter: @MessmerE. Email: firstname.lastname@example.org.
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