Motorola Solutions Venture Capital, the corporate venturing unit of the eponymous US-based communications products business, has invested an undisclosed amount in US and Canada-based mobile risk management company Fixmo on August 9 2012.
In November last year Fixmo raised $23m from private equity firm Paladin Capital Group, which led the round, as well as venture firms Horizon Ventures and Kleiner Perkins Caulfield & Byers in Series C financing. Existing investors and management also participated in the round.
The company’s Series 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.
Tony Palcheck, managing director of Motorola Solutions Venture Capital, said: “Police departments, federal agencies, hospital employees and a wide range of business professionals are sharing increasing amounts of sensitive information from their mobile devices. There is a growing imperative to ensure that these devices are compliant and in a high-integrity state. With a unique approach to mobile risk management, Fixmo products give organizations the confidence and audit trail they need to meet stringent compliance requirements whether they are in the public or private sector.”
Brenda Herold, corporate vice president, Global Astro Products and Solutions, Motorola Solutions, said: “We feel Fixmo’s product portfolio complements Motorola Solutions’ existing security offerings while providing data management features necessary for today’s demanding mobile environment.”