US-based industrial internet-of-things (IoT) cybersecurity technology developer Mocana Corporation has raised $11m in funding from investors including GE Ventures, industrial product manufacturer General Electric’s corporate venturing arm.
Sway Ventures, Shasta Ventures and Trident Capital Fund also invested in the round, which brought Mocana’s total funding up to $93.6m, according to a press release by the company.
Founded in 2002, Mocana provides IoT security technology for use with embedded systems, industrial controls and the IoT. The company will spend the latest funding on driving innovation and growth.
Michael Dolbec, managing director of GE Ventures, said: “Mocana’s new IoT Security Platform is solving operational technology and IoT security challenges by tackling one of the toughest industry problems – making industrial controllers and IoT endpoints more secure and trustworthy.”
Mocana’s past investors include electronics producers Panasonic and Matsushita, which jointly invested $7.7m in the company in 2008.
Cybersecurity software producer Symantec led its $9m series C round in 2010, while Intel Capital, the corporate venturing vehicle for semiconductor technology provider Intel, participated in a $25m round in 2012 that also featured Symantec, Trident Capital, Shasta Ventures and Southern Cross Ventures.