Intel Capital, the corporate venturing division of the US-based semiconductor manufacturer, has made a strategic investment in the US-based computer network security company Mocana. The amount invested was undisclosed.
Intel is not the first computing company to back Mocana. Online security company Symantec led Mocana’s series C round in May 2010, providing a similarly undisclosed amount alongside venture capital (VC) firms Southern Cross Venture Partners and Shasta Ventures, while the US-based Panasonic Ventures and Japan-based Matsushita are also backers.
Prior to Symantec’s involvement, Mocana raised $7.7m in series B funding, in October 2008, from Matsushita, Southern Cross and Shasta. Shasta had previously led Mocana’s series A round, also featuring Matsushita, which closed at $5.1m in March 2007.
Founded in 2004, Mocana uses a combination of software and cloud security services to provide security for both computing devices and the applications that run on them, and its services are available for platforms ranging from smartphones through to large scale utility systems.
Dave Flanagan, managing director at Intel Capital, said: "Mobile device security is fundamental to the success of any mobile endeavor, be it personal, commercial or governmental. Mocana’s special expertise in securing devices and the information that runs across them will be crucial to the success of the ‘Internet of Things’, especially in the mobile domain."