Intel Capital, the corporate venturing arm of semiconductor maker Intel, exited US-based mobile application management (MAM) technology developer Apperian yesterday in an acquisition of undisclosed size by cybersecurity software provider Arxan Technologies.
Founded in 2009, Apperian has built a platform that enables businesses to securely manage apps across their organisations, allowing unsecured devices, such as employees’ personal devices or those utilised by contract workers, to safely be used.
Joe Sander, Arxan’s chief executive, said: “The application security and management capabilities Apperian provides are pivotal for organisations to securely deploy and manage their apps and we are excited to offer our customers Apperian’s MAM products.
“This acquisition puts Arxan in a unique position with the strongest and most comprehensive solution for enterprise application protection and management for both mobile and [the internet of things].”
Apperian had raised approximately $40m altogether, with North Bridge Venture Partners, Kleiner Perkins Caufield & Byers, Bessemer Venture Partners, LaunchPad and Common Angels initially investing $23.4m across three rounds, which was boosted to $28m with a 2013 Intel Capital investment.
Intel Capital subsequently returned for a $12m series C round in 2015 that included First Floor Capital, Bessemer Venture Partners, Kleiner Perkins Caufield & Byers, North Bridge Venture Partners and CommonAngels Ventures.