Cybersecurity company Blue Coat Systems has participated in a $7m series B extension for US-based enterprise mobile threat platform Appthority, boosting the round’s total to $17m.
The second tranche was led by venture capital firm Trident Capital Cybersecurity and also featured US Venture Partners, Venrock and Knollwood Investment Advisory. Sean Cunningham, managing director of Trident Capital Cybersecurity, will join Appthority’s board of directors.
Blue Coat, US Venture Partners, Venrock and Knollwood previously also contributed to the round’s $10m first tranche, revealed in January 2016 but secured at an undisclosed date near the end of 2015.
Appthority produces threat intelligence software aimed at enterprise users. The system helps companies prevent malicious attacks through mobile apps and helps ensure compliance.
The company previously raised $6.25m in a 2012 series A round co-led by US Venture Partners and Venrock, with participation from business law firm Gunderson Dettmer.
Paul Stich, chief executive of Appthority, said: “The market response to our mobile threat solution and ability to protect employees and corporate data in near real time from millions of potential mobile app threats speaks for itself.
“With additional funding to grow key functions and markets, we are incredibly well placed to capture the lion’s share of this important segment of the security market.”