Fixmo Receives US$6.5 million in Series B Funding
TORONTO, June 1, 2011 /PRNewswire/ - Fixmo Inc., a leading provider of secure, end-to-end infrastructure management solutions for mobile devices, today announced it has secured US$6.5 million in Series B financing led by new investor Panorama Capital. Existing investors Rho Ventures Canada, iNovia Capital, Extreme Venture Partners and management also participated in the Series B round. Fixmo will use the funding to support the company's business expansion and ongoing development of innovative solutions that mitigate the risk associated with enterprise mobile deployments.
"Fixmo understands enterprises want all the productivity benefits of a mobile workforce without having to worry about the risks associated with mobile devices," said Rick Segal, Co-Founder and CEO of Fixmo. "Managing and maintaining the integrity of enterprise mobile infrastructures is a huge market opportunity and this latest round of financing confirms Fixmo as a leader in this market. Panorama Capital brings significant experience and expertise to the table and we are honoured to have them as an investor."
Fixmo's Sentinel platform mitigates the risk of mobile deployments by providing: device assurance, achieved by managing the integrity of mobile devices to ensure they start and stay in a known and trusted state; policy compliance, which detects any changes to mobile device policies and configurations; and device audit, documenting an organization's compliance with regulatory policies.
Sentinel also features tools that allow enterprises to cost-effectively manage their entire mobile infrastructure end-to-end. Through a single interface, administrators can manage every facet of their enterprise's mobile devices, from provisioning, through usage monitoring, analysis and reporting.
"We are extremely impressed by the quality of the products and the team at Fixmo and we are excited to support the company as it builds a valuable service to enterprises," said Chris Albinson, Managing Director at Panorama Capital. "Fixmo has quickly established itself as a leader in the market for securing mobile workforces and has an impressive list of enterprise and government customers."
About Fixmo Inc.
Fixmo Inc. is a leading provider of secure, end-to-end, multi-platform, infrastructure management solutions for enterprise mobile devices. Fixmo provides enterprises with powerful tools to manage the risk associated with mobile devices, giving customers device assurance, policy compliance and device auditing. Since launching Fixmo Tools in early 2010, the company has added solutions that address challenges enterprises face dealing with the complexity and risk of mobile devices in their workforces. For more information please visit www.fixmo.com.
About Panorama Capital
Panorama Capital is a Silicon Valley venture capital firm that invests in passionate entrepreneurs building leading companies in technology and life sciences. Panorama takes a hands-on approach to investing, helping companies accelerate their growth. We bring to each portfolio company our knowledge as seasoned investors who also possess a wealth of experience as executives, entrepreneurs, engineers and physicians. This experience gives Panorama Capital a powerful combination of technical, operational and transactional expertise to help our companies succeed. For more than two decades, the Panorama Capital team has invested in and helped build more than 100 companies, more than 60 of which went public or were acquired. For more information about Panorama Capital, visit www.panoramacapital.com.
SOURCE Fixmo Inc.