Smart device security platform developer Mocana Corp. said that it has received a strategic investment from semiconductor giant Intel's global investment arm Intel Capital. However, financial details of the investment were not disclosed. According to Mocana, this investment and the business collaboration with Intel underlines the importance of security in the growing "Internet of Things" and will help to accelerate new smart device markets.
Along with Intel Capital, other investors include Shasta Venture Capital and Southern Cross Venture Partners. In addition, the security firm also received early strategic investment from Symantec Corp.
Market analysts say that connected "smart devices," including smartphones, represent a $900 billion hardware, software and services ecosystem that is rapidly growing.
San Francisco, Calif.-based Mocana, which was launched in 2004, has enjoyed year-over-year growth since inception. According to the company, over 150 companies have already licensed it's solutions, which is a combination of software resident on the device and context-intelligent security services delivered from the cloud.
Mocana's platform approach protects not only the devices, but the applications and services that run across them as well. Some of Mocana's customers include Intel, General Electric, Cisco, Honeywell, General Dynamics, Freescale Semiconductor, Samsung, LG, Good and Siemens, among others.
Mocana technology secures devices ranging from Android smartphones for consumers, to smart-grid infrastructure devices for utilities, medical devices and even unmanned aerial vehicles (UAV's).
In a company statement, said Dave Flanagan, managing director, Intel Capital, "Mobile device security is fundamental to the success of any mobile endeavor, be it personal, commercial or governmental." He added, "Mocana's special expertise in securing devices and the information that runs across them will be crucial to the success of the Internet of Things, especially in the mobile domain."
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Edited by Rich Steeves