Tuesday, May 20, 2008

Mocana Raises $7 million for Networked Device Security

Mocana, a start-up based in San Francisco, closed $7 million in venture funding for its security software protection for networked devices.

Mocana is focused on the security threat represented by non-PC "things" connecting to the network, like PDAs, routers, DVRs, printers, iPods, and even cars or digital picture frames. Each one of these new devices represents a "soft target" for hackers and an easy way in to the rest of the network. This is because third- and fourth-generation attack techniques are being unleashed upon millions of non-PC devices armed with first-generation security, at best.

Mocana offers a Device Security Framework (DSF) that secures communications to and from any device connected to the network, as well as the data and applications residing on those devices. This latest round of financing will be used to enhance and expand the 20 security components that currently make up Mocana's DSF so that manufacturers and service providers can ensure that security is inherent in the device, to protect against existing and emerging threats.

The new funding was led by Southern Cross Venture Partners. Mocana's only previous institutional investor, Shasta Ventures also provided investment for this round, increasing their ownership position in the company and bringing Mocana's total capital backing to $12.1M.http://www.mocana.com

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