SAP Ventures, the corporate venturing arm of Germany-based software firm SAP, has emerged to lead a group of venture capital firms investing $10m in operating system DeviceVM.
Jai Das, California-based partner at SAP Ventures, said: "We are excited to lead the investment in DeviceVM to support its growth and expansion to deliver enterprise-class, instant-on platforms for the mobile enterprise markets. Secure remote access to corporate data from multiple devices is paramount to today’s increasingly mobile workforce."
Mark Lee, chief executive and co-founder of DeviceVM, said: "This new round will accelerate our plans to make mobile internet devices (from netbooks to smartphones) enterprise-ready by enabling IT to better support them within existing management and security policies."
SAP Ventures led the funding for US-based DeviceVM with participation from the portfolio company’s existing VCs: Storm Ventures, DFJ Dragon, and New Enterprise Associates (NEA).
DeviceVM initially raised $10.5m in August 2006 from Storm, with DFJ Dragon, Taiwan-based computer group Asustek, iD Innovations (Acer), Harbinger (Mitac-Synnex) and various angels contributing. A further $10m was raised a year later with DFJ Dragon leading and additional contributors from Sumitomo’s venture group Presidio, HTC Founders Cher Wang and Chen Wen Chi, and WR Hambrecht Ventures.
In 2008, DeviceVM raised $15m in a NEA-led series C round.