Thursday, May 22, 2008

Mocana securely enables Internet-scale applications and services for connected devices got VCs funding

What Company Is Offering:
Mocana securely enables Internet-scale applications and services for connected devices. Mocana's industry-leading infrastructure software solutions ensure that wired and wireless devices, networks and services perform and scale with the utmost security – a necessary foundation for a networked society. Customers include Philips, Dell, Cisco, Nortel Networks, Harris, Honeywell, Symbol, and Radvision, among others.The company has been recognized with numerous awards including the Red Herring 100 and Frost & Sullivan’s Innovation of the Year.

How Much They Got From VCs:
Mocana, a security software company that delivers comprehensive protection for devices, today closed $7 Million in venture financing. The infusion of funding, led by Southern Cross Venture Partners, will be used to expand the company’s product lines, build out its international presence and increase marketing activities. Mocana’s only previous institutional investor, Shasta Ventures also provided investment for this round, increasing their ownership position in the company and bringing Mocana’s total capital backing to $12.1M.

Attacks on PC platforms have steadily grown in sophistication and PC security technology has generally evolved along with the threats. But now there are more non-PC “things” connecting to the network every day, like PDAs, routers, DVRs, printers, iPods, and even cars or digital picture frames. Each one of these new devices represents a “soft target” for hackers and an easy way in to the rest of the network. This is because third- and fourth-generation attack techniques are being unleashed upon millions of non-PC devices armed with first-generation security, at best.

To address this, Mocana offers its Device Security Framework (DSF), a comprehensive approach to device security that secures communications to and from any device connected to the network, as well as the data and applications residing on those devices. This latest round of financing will be used to enhance and expand the 20 security components that currently make up Mocana’s DSF so that manufacturers and service providers can ensure that security is inherent in the device, to protect against existing and emerging threats.


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