Every time some larger hacks or things like the WannaCry ransomware come to public attention, more and more people realize the importance of online and mobile security – especially for businesses.
Wandera, a leading enterprise mobile security and policy provider with a pioneering mobile gateway, today announced it has completed a total $27.5 million Series C equity and venture debt financing. The new investor, Sapphire Ventures led the round with participation from existing investors, Bessemer Venture Partners and 83North, bringing the company’s total funding to date to $50 million. Wandera is based in London and San Francisco and was founded in 2012.
The new financing follows a year in which Wandera has increased its number of Fortune 500 clients fivefold and which is now growing bookings at 250% year on year. Major global deployments include leading organizations in healthcare, finance, technology and professional services.
Andreas Weiskam of Sapphire Ventures stated: “After thoroughly researching the mobile security and policy market, we see a winning technology leader in Wandera and its differentiated secure gateway. Mobile risk control, including threat defense, is a rapidly growing market and enterprises must prioritize an investment in mobile security solutions to ensure mobile employees have seamless, secure access to applications.”
Wandera plans to use the fresh capital to expand its global footprint and further develop its gateway technologies, in particular its intelligence engine, MI:RIAM, designed to identify zero day threats and surface new analytic insights using a sophisticated blend of machine learning and data science techniques. Just last week, MI:RIAM detected 400 new variants of the dangerous SLocker ransomware, previously thought to have been eradicated. The power of MI:RIAM comes from its unmatched visibility into mobile data – in 2016 the gateway scanned 26 billion mobile web requests including 700,000 unique apps and over 10 million plus web domains.
Roy Tuvey, the Co Founder and President at Wandera stated: “We are thrilled to partner with Sapphire Ventures, a leading growth investor with an impressive track record in identifying global market leaders including a number of high profile IPOs. They have demonstrated clear expertise in our area of enterprise software, particularly given their history and relationship with SAP. We are looking forward to working together to rapidly scale our pioneering cloud mobile gateway, and provide global enterprises a single integrated platform for mobile security and policy.”