Skycure, a start-up based in Palo Alto, California, announced $16.5 million in series B funding for its mobile threat defense.
Skycure helps enterprises secure employee mobile devices when adopting BYOD to increase productivity.
The new funding was led by Foundation Capital and included the participation of all of the company’s previous investors, including Shasta Ventures, Pitango Venture Capital, Skycure customer New York Life, and private investors Peter McKay, and Michael Weider. This round brings Skycure’s total funding to $27.5 million. The company also added Lane Bess, industry veteran and former CEO of Palo Alto Networks, as a private investor in this series.
“The more devices we carry to streamline business, the larger the attack surface to the organizations grows,” said Yair Amit, CTO and co-founder of Skycure. “IT departments just can’t deal with the massive assault on their mobile devices every day from vulnerability exploits, malware, and network threats. Skycure’s predictive technology uses a multi-layered approach that leverages our crowd-sourced threat intelligence, plus device- and server-based analysis, to proactively protect mobile devices from all of these threats. Solutions using a single approach are just not effective. With our new funding we can focus more on research and invest more in development, further enhancing our security innovation and expanding our product leadership in the market.”