MobileIron Raises $40M in Series E Funding
MOUNTAIN VIEW, Calif., May 29, 2012 /PRNewswire/ -- MobileIron, the leader in Mobile IT security and management for apps, content, and devices, today announced its $40 million Series E mezzanine financing round. The investment was led by Institutional Venture Partners which joined existing investors Foundation Capital, Norwest Venture Partners, Sequoia Capital, and Storm Ventures. The round brings MobileIron's total funding to $97 million. It will be used to accelerate global growth and drive product innovation. Earlier this month, MobileIron was positioned in the Leaders quadrant of Gartner, Inc.'s Magic Quadrant for Mobile Device Management Software 2012.
"Mobile is driving a massive shift within the enterprise. IT departments are reorganizing themselves to focus on Mobile IT. Mobile apps, content, and devices are becoming the strategic computing platform for their users," said Bob Tinker CEO. "MobileIron is building a standalone, market-leading company to provide customers and partners globally with the mobile technology and best practices to make their Mobile IT initiatives successful."
"The market for mobile device management and security software is experiencing explosive growth," said Norm Fogelsong, General Partner at Institutional Venture Partners (IVP). "MobileIron has achieved extraordinary customer traction and has emerged as the most dynamic player in this space. We look forward to working with Bob Tinker and his team to help them accelerate the global expansion of their business."
For more information, please visit www.mobileiron.com.
Positioned in the Leaders Quadrant of Gartner, Inc.'s Magic Quadrant for Mobile Device Management Software 2012, MobileIron has been chosen by thousands of organizations that are transforming their businesses through Mobile IT. Available as an on-premise or a cloud solution, MobileIron was purpose-built to secure and manage mobile apps, data, and devices for global companies. MobileIron was the first to deliver key innovations such as multi-OS mobile device management (MDM), mobile application management (MAM), and BYOD privacy controls. For more information, please visit www.mobileiron.com.
About Foundation Capital
At Foundation Capital, we're dedicated to the proposition that one entrepreneur's idea, with the right support, can become a business that changes the world. We helped Atheros create the mobile Internet, EnerNOC invent the energy demand response market, and Netflix revolutionize media distribution and consumption, among many others. We're currently invested in more than 80 high growth ventures in the areas of consumer, information technology, software, semiconductors, and clean technology. Recent public offerings of companies we helped found or grow include Reponsys, Financial Engines and Envestnet. For more information, please visit www.foundationcapital.com.
About Institutional Venture Partners (IVP)
With $3 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. The partnership is currently investing IVP XIII, a $750 million later-stage fund focused on investments in rapidly growing technology and media companies. Founded in 1980, IVP has invested in over 300 companies, 90 of which have gone public. IVP is one of the top performing firms in the industry and has a 31 year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. Since its inception, IVP investments include such notable companies as ArcSight (HPQ), Aspect Communications, ComScore (SCOR), Concur Technologies (CNQR), Digital River (DRIV), Dropbox, HomeAway (AWAY), Juniper Networks (JNPR), Kayak, LegalZoom, LivingSocial, MySQL (ORCL), Netflix (NFLX), Polycom (PLCM), Seagate (STX), Shazam, Synchronoss (SNCR), Tivo (TIVO), Twitter, and Zynga (ZNGA). For more information, visit http://www.ivp.com or follow IVP on Twitter: http://twitter.com/ivp.
About Norwest Venture Partners
Norwest Venture Partners (NVP) is a global venture capital firm that manages more than $3.7 billion in capital. Headquartered in Palo Alto, California, NVP has subsidiaries in Mumbai and Bengaluru, India and Herzliya, Israel. NVP makes early to late stage venture and growth equity investments in U.S. and global companies across a wide range of sectors including: information technology, healthcare, business services, financial services, infrastructure, technology enabled services and consumer. NVP has actively partnered with entrepreneurs to build great businesses for more than 50 years and has funded over 500 companies since inception. For more information, please visit www.nvp.com.
About Sequoia Capital
Sequoia Capital provides venture capital funding (http://www.sequoiacap.com/us) to founders of startups who want to turn business ideas (http://www.sequoiacap.com/ideas/) into enduring companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of NetApp, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of NVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube, Dominic Orr and Keerti Melkote of Aruba Networks, Tony Hsieh of Zappos, Omar Hamoui of Admob, Steve Streit of Green Dot and Reid Hoffman and Jeff Weiner of LinkedIn. To learn more about Sequoia Capital visit www.sequoiacap.com/us/mobile.
About Storm Ventures
Storm Ventures was founded in 2000 by a seasoned group of industry veterans with the common vision of sharing our collective experience, passion and energy to help talented and driven entrepreneurs build great companies of enduring value. Storm Ventures focuses on seed and early stage information technology companies which best leverages the team's operational perspective and experience and enables Storm to add value in the critical early stages of a company's development. For more information, please visit www.stormventures.com.
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