Fixmo Inc., a mobile risk management (MRM) vendor, has announced that it has closed a $23 million Series C round, led by new investor Paladin Capital Group. Horizons Ventures and Kleiner Perkins Caufield & Byers join as new investors as well. All existing investors and management also participated in the new round.
Fixmo specializes in providing enterprises and government agencies with the ability to identify, mitigate and manage the risks associated with using mobile devices for both business and personal use. Fixmo's MRM solutions continuously verify the integrity and authenticity of mobile devices and apps, provide protection from private data loss and security breaches, monitor and track regulatory compliance. Through a technology transfer agreement, Fixmo's products have been built on a foundation of MRM technologies initially developed by the U.S. Government's National Security Agency (NSA). The Fixmo SafeZone solution has received FIPS 140-2 certification.
Mobile risk management (MRM) is an emerging category of technologies that empower organizations to identify, mitigate and manage the risks associated with mobile devices, including financial risk due to regulatory non-compliance; reputation risk resulting from security breaches and violations; and competitive risks from intellectual property and data leakage. MRM helps organizations go beyond traditional mobile device management (MDM) practices, which have primarily relied on risk avoidance or control tactics that limit how devices can be used by employees, to help them exercise the full potential of mobility while protecting corporate data and ensuring regulatory compliance.
Using a risk mitigation philosophy, Fixmo MRM enables organizations to support a wide range of mobile devices by taking a holistic approach to MDM, corporate data security and mobile application management (MAM), and fusing them with comprehensive integrity monitoring and verification, malware prevention, risk intelligence and IT compliance reporting.
The new funding will enable Fixmo to expand its line of products. Fixmo's mobile risk management offerings currently include Fixmo Sentinel and the new Fixmo SafeZone secure container. In 2012 the company plans to expand its product suite with additional MRM solutions for carriers, consumers, enterprises and government agencies.