AppDome, the market leader in dynamic mobile security-as-a-service applications, today announced that it has closed $13 million in Series A funding under Menlo Ventures. The round includes the participation of the original investors JVP (Jerusalem Venture Partners) and OurCrowd, together with the new investor Draper Nexus.
AppDome’s dynamic app wrapping technology protects business and consumer apps along with their data The solution is used globally to defend mobile apps from attack vectors such as malware, man-in-the-centre, phharming, and data harvesting.
Recently named Gartner as the 2015 Cool Vendor in Mobile Security, AppDome offers businesses the ability to secure their apps by uploading the fully developed APK/IPA to a cloud-based security wrapping service. After the wrapping process, the company can download and distribute a secure version of the app via the App Store or Google Play within minutes.
‘AppDome technology is part of a major transformation in mobile application security,’ said Tal Gilat, CEO of AppDome. ‘Until now, high-level mobile app security has only been available to enterprise apps and has been out of reach for customer-facing and partner-facing apps. Our technology enables the seamless protection of any type of mobile application, including financial, healthcare and other customer-oriented applications. ”
Gilat added, ‘Menlo Venture’s investment is a huge vote of confidence in our ability to deliver comprehensive, state-of-the-art, enterprise-grade mobile security across any app running on iOS or Android. We have every intention of taking advantage of this opportunity to expand our global presence ”
Avi Yehuda, CTO of AppDome, notes that ‘Using a dynamic wrapper is the most efficient, scalable and affordable way to provide the highest level of security against the growing threat of known and unknown malware. AppDome recently researched more than 100 US-based financial and healthcare apps and found that over 40% of them were highly vulnerable to very basic confidential data theft, phishing, and cyber-attack fraud. ”
Avery More, Venture Partner at Menlo Ventures, said: ‘We have come across multiple game-changing technologies, and AppDome is clearly leading the mobile app security market with a solution requiring minimal time to market. As awareness of mobile application vulnerabilities grows, AppDome is uniquely positioned to provide best-in-class security to meet this growing need. ”
Hiro Rio Maeda, CEO of Draper Nexus, said: ‘Today, consumers spend more than 100 minutes a day on a smartphone, which is more than they spend on a PC. More transactions and information flow through applications that need to be more secure Somehow, there’s a belief that they’re all secured, and it’s wrong. AppDome technology has great potential on a global scale under current circumstances ”
AppDome About
AppDome’s dynamic wrapping of SaaS technology provides an essential shield to secure enterprise and consumer-facing apps from advanced cyber threats, mobile fraud, and data theft. Within minutes, AppDome’s dynamic wrapping technology defends iOS and Android apps from a variety of attack vectors. The dynamic wrapper operates on the final application package and does not require any changes to the source code or SDK integration during the life cycle of development. The solution is used by the world’s leading financial, healthcare and e-commerce companies to ensure productivity, compliance and safety for consumers and employees. Visit www for more information. Appdom Come on,
Menlo Ventures
Menlo Ventures provides seed capital through growth technology companies in the consumer and business sectors. Since 1976, the market-driven analysis of the company has led to the identification and successful exit of innovative technology markets. Notable investment areas include Mobile (Siri, Uber, Machine Zone, Roku), Social & Ecommerce (Tumblr, Lumosity, Poshmark), Cloud (Carbonite, EdgeCast, Dropcam, Vidyo), Storage & Big Data (3Par, Coraid, Tintri, Avere Systems), Digital Advertising (Flurry, YuMe, DataXu, Dstillery, eXelate) and Security (Cavium, IronPort, nCircle, BitSight) Menlo’s portfolio includes more than 70 public companies and more than 100 mergers and acquisitions Menlo’s guiding philosophy is Venture Right, working side-by-side with portfolio entrepreneurs as allies, serving ethically on boards as company builders with decades of market expertise, and opening up access to a curated network of advisors. Menlo Ventures is worth $4 4 billion under management and is currently investing in Menlo Ventures XII, a $400 million fund with $15 million allocated to the Menlo Talent Fund for fast seed funding. Visit http://www for more information. Menlovc’s Com/Com
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