Fixmo, a US and Canada-based mobile risk management company, has raised an undisclosed amount of strategic funding from South Korea-based electronics chaebol Samsung’s corporate venturing unit. Hyuk-Jeen Suh, senior investment manager with Samsung Ventures America, said: “Secure enterprise mobility, BYOD [bring-your-own-device] and personal privacy protection are some of the most important and exciting areas in the telecommunications market. Fixmo is poised to deliver next-generation solutions that help IT [information technology] departments, business professionals and consumers remain secure and protected while embracing the next wave of mobility technology trends.” Rick Segal, chief executive at Fixmo, added: “The investment from Samsung Ventures will further advance our research and development activities in the areas of mobile security, device integrity verification, adaptive policy management and compliance assurance.” In August, Motorola Solutions Venture Capital, the corporate venturing unit of the eponymous US-based communications products business, invested an undisclosed amount in Fixmo. In November 2011, Fixmo raised $23m from private equity firm Paladin Capital Group, which led the series C round, as well as venture firms Horizon Ventures and Kleiner Perkins Caufield & Byers. The company’s B funding round raised $6.5m from Panorama Capital, iNovia Capital, Extreme Venture Partners and Rho Ventures Canada. In 2010 Fixmo raised $1.5m from Rho Ventures, according to data provider Buzz Sparks.
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Samsung zooms into Fixmo
Jan 24, 2013 • Global Corporate Venturing
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