Mobile security company Zimperium today announced the closing of a $12 million Series B financing round. The Ventures group at Telstra, Australia's largest telecom and information services company and current customer of Zimperium, led the round. TOYO Corporation, a new investor and Zimperium's distributor in Japan, also participated along with existing investors Sierra Ventures, Lazarus Israel Opportunities Fund and Samsung.
This latest investment supports Zimperium's ongoing expansion and continued technological innovation in the fight against cybercrime and will be used to help the company continue to scale operations and support its rapidly growing customer base.
Zimperium, which is headquartered in San Francisco and has offices in Tel Aviv, was founded in 2010 by Chairman Zuk Avraham and CTO Elia Yehuda. The company raised $8 million in its Series A financing round in 2013.
According to Infonetics Research, the mobile device security market is expected to grow to $3.4 billion in 2018. Enterprises are increasingly realizing that existing traditional security and mobile device management providers don't provide protection against advanced known and unknown mobile threats.
With the modern mobile threat landscape changing by the hour, Zimperium's Mobile Threat Defense provides continuous, on-device protection against WiFi, cellular and host-based cyber-attacks. Zimperium provides a complete mobile security system with threat detection, protection and mitigation of threats for iOS and Android devices.
Telstra chief information security officer Mike Burgess said, "With the growth in mobility there should be no surprises that criminal hackers are targeting mobile devices at a rate that matches the growth in mobility itself. This presents a unique problem for companies trying to secure their corporate data. A security solution which protects mobile devices against these growing hack attempts should be a key part of every company's cyber security strategy."
Published by Globes [online], Israel business news - www.globes-online.com - on February 26, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015