SAN FRANCISCO – Wandera, a provider of enterprise mobile security and policy through its mobile gateway, 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 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 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,” said Andreas Weiskam of Sapphire Ventures. “Very quickly we recognized the strength of Wandera’s cloud 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 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 pioneering cloud mobile gateway, and provide global enterprises a single integrated platform for mobile security and policy.”
Wandera is headquartered in San Francisco and London, and opened offices in Athens, Brno and Tel Aviv in 2016.