Alternative asset manager Blackstone has invested in WatchDox, an enterprise software company, as part of a $9m round.
Blackstone made the investment at the same times as implementing its technology across its firm. Watchdox allows users to access, protect and control their documents, allowing users to destroy these files remotely should a device go missing.
Watchdox’s existing investors, businessman Shlomo Kramer, as well as venture firms Gemini Israel Funds and Shasta Ventures, joined the round. In January last year the company raised $9.25m.
Watchdox’s second round of financing raised $5.5m in 2008, while it also raised seed financing from Kramer. It was founded in 2007.
William Murphy, managing director and chief technology officer of Blackstone, said: "In our business, the value of proprietary information cannot be overstated. One of the most appealing aspects of the WatchDox solution is knowing that the security travels with the document. This allows us to track its journey and revoke access at anytime, even if it ends up saved to a thumbdrive or accidentally sent to the wrong recipient via email."
Murphy added: "In addition, it is a competitive advantage for us to be able to securely support our employees’ growing use of iPads, which WatchDox has made easy via its iOS app."
Moti Rafalin, chief executive of WatchDox, said: "Our partnership with Blackstone both as a customer and as an investor validates our mission to provide a unique market solution and provides WatchDox with a vote of confidence in our strategy and product offering."