Award-winning solution protects global enterprises from evolving mobility risks
SAN FRANCISCO, May 18 2017, 7am PST – Wandera, a leading mobile secuirty company, today announced it has completed a total $27.5 million Series C equity and venture debt financing. 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. As part of the new investment, Andreas Weiskam, managing director at Sapphire Ventures, will join the Wandera Board of Directors.
The new financing follows a spectacular year for Wandera which 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.
“After thoroughly researching the mobile security market, we see a winning technology leader in Wandera and its differentiated multi-level defense. Mobile risk control, including threat defense, is a rapidly growing market and enterprises must prioritize investment in mobile security solutions to ensure mobile employees have seamless, secure access to applications,” said Andreas Weiskam of Sapphire Ventures. “Very quickly we recognized the strength of Wandera’s multi-level architecture and the effectiveness of its technology to identify emerging threats and enable proactive policy actions. We are excited to partner with this experienced leadership team right at the forefront of their market.”
Wandera plans to use the funding to expand its global footprint and further develop its gateway technologies, in particular, its threat 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.
“This funding is a real testament to the team and technology we have built here at Wandera,” said Roy Tuvey, Co Founder and President at Wandera. “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 company, and provide global enterprises with a single integrated platform for mobile security.”
About Sapphire Ventures
Sapphire Ventures is a venture capital firm focused on helping innovative technology companies become global category leaders. Leveraging nearly two decades of experience and an extensive global enterprise network, Sapphire Ventures invests capital, resources and expertise to enable its portfolio companies to scale rapidly. Whether entrepreneurs sell to businesses, consumers or both, Sapphire Ventures offers a platform for business development and operational excellence to help them accelerate growth. With over $2.4 billion under management via direct growth investments and early-stage fund investments, Sapphire Ventures is positioned to elevate companies to the global stage. Find us in Palo Alto and at www.sapphireventures.com.