Cybersecurity technology provider Symantec has acquired US-based enterprise mobile cyber threat analysis platform Appthority, a portfolio company of its corporate venturing unit, Symantec Ventures.
The deal also provided an exit to cybersecurity software producer Blue Coat Systems. Financial terms of the acquisition have not been disclosed.
Founded in 2011, Appthority has developed a cybersecurity platform that helps enterprise clients thwart malicious attacks by analysing mobile apps for possible threats. The software also helps companies ensure regulatory compliance.
Appthority’s team and technology have been integrated into Symantec’s endpoint security business, Integrated Cyber Defense Platform. Symantec Ventures had invested an undisclosed sum in Appthority, a deal revealed when the unit was launched in March 2017.
The company closed a $17m series B round in July 2016 following a $7m extension featuring Blue Coat Systems. VC firm Trident Capital Cybersecurity led the second tranche while US Venture Partners, Venrock and Knollwood Investment Advisory also took part.
Blue Coat had already backed the $10m first close alongside US Venture Partners, Venrock and Knollwood in January 2016. US Venture Partners and Venrock had previously co-led a $6.3m series A round for Appthority in 2012 that included business law firm Gunderson Dettmer.
Domingo Guerra, co-founder of Appthority, said: “Mobile users increase the enterprise attack surface with each app they install.
“This acquisition unites Appthority with Symantec’s comprehensive endpoint security portfolio, which is the first solution on the market that can protect all traditional and modern endpoints and now apps.”
