Bluebox Security, a stealth mobile security company, today announced the closing of the $18 million Series B funding round. Participants in this round include Tenaya Capital as well as existing investors Andreessen Horowitz, Sun Microsystems co-founder Andreas Bechtolsheim and SV Angel. Brian Melton of Tenaya Capital will join the board of directors of the company Capital will be used to scale sales and marketing to meet growing market demand.
The new funding comes just before the launch and brings the total amount of the company to $27. $5 million Bluebox has already closed a $9 Series 5 million A round in July 2012.
‘Existing mobile security solutions are modeled on an outdated perspective of mobile use that does not meet current demand,’ said Brian Melton, Managing Director of Tenaya Capital. ‘As companies give employees greater access to corporate information via mobile devices, they need a solution that meets the needs of both business and employees. A strong endorsement across Bluebox beta customers confirms that Bluebox has developed an innovative mobile security solution that businesses want. ”
Results from Forrester’s Forrsights Workforce Employee Survey, Q4 2012 show that at least 85% of employees use phone/tablet applications and web-based services for both personal and work-related activities—to put corporate information security at serious risk. 1 1
Scott Weiss, Partner, Andreessen Horowitz, said: ‘The BYOD movement has ushered in a new era—businesses no longer control or manage the devices and services employees bring into the organization—fundamentally changing the way organizations must address security.’ ‘Building an exceptional team of veteran entrepreneurs with deep roots in information security, Bluebox is well positioned to quickly become the leader in this new frontier of mobile security. ”
‘Many companies have invested in mobile security solutions that focus on devices but do not address the key issue of mobile security,’ said Caleb Sima, CEO and co-founder of Bluebox Security. ‘We founded Bluebox with a unique approach to mobile security that focuses on what really matters—data. We welcome Tenaya Capital to our team of investors and look forward to their support as we work to change the way mobile security is done today. ”
Tenaya Capital has supported technology leaders such as New Relic, Kayak, Zappos and Palo Alto Networks. Andreessen Horowitz also supported disruptive companies such as Facebook, Skype, GitHub and Instagram.
1Blog post ‘Address Three Key Management Concerns To Win Internal Support for BYOT Initiatives, Katayan Gupta, Forrester Research, Inc. , September 30th, 2013.
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Bluebox Security is a stealth launch focused on enterprise mobile security. Backed by Andreas Horowitz, Tenaya Capital, Sun Microsystems co-founder, Andreas Bechtolsheim, SV Angel and Google Board Member Ram Shriram, Bluebox Security is headquartered in San Francisco. Visit Bluebox The Bluebox Com
