Mobile security-as-a-service technology platform AppDome has completed its Series A funding round. Led by Menlo Ventures, AppDome has raised $13m, with additional investment coming from OurCrowd, Jerusalem Venture Partners, and newcomer Draper Nexus.
Tal Gilat, AppDome’s CEO, said:
“AppDome’s technology is part of a large transformation in mobile application security. Until now, high-level mobile app security has only been available to enterprise apps and was out of reach for customer-facing and partner-facing apps. Our technology makes it possible to seamlessly protect any type of mobile application – including financial, healthcare, and other customer-facing apps.”
AppDome has raised $13m in its Series A funding round
AppDome’s product is suitable for use with both enterprise and consumer apps, and compatible with both Android and iOS platforms. For enterprises, apps can be ‘wrapped’ in AppDome’s secure packaging in a cloud-based environment, then downloaded all ready for launch inside consumer facing app stores.
Avi Yehuda, AppDome’s CTO, added:
“Using a dynamic wrapper is the most effective, scalable and affordable way to provide the highest level of security against the growing threat of known and unknown malware. AppDome recently researched over 100 U.S.-based financial and healthcare apps and found that over 40% were highly vulnerable to very basic confidential data theft, phishing and fraud cyber-attacks.”
The company intends to use the new funding to expand its global presence.