Enterproid Secures $11 Million in Funding from Comcast Ventures, Google Ventures and Qualcomm
NEW YORK, Oct 06, 2011 (BUSINESS WIRE) -- Enterproid, maker of the Divide(TM) Platform for enterprise mobility, today announced it has closed $11 million in Series A funding to accelerate the company's growth and customer success. The investment was led by Comcast Ventures with participation from Google Ventures and Qualcomm, acting through its venture investment arm, Qualcomm Ventures. Enterproid will use the funds to extend engineering capabilities, expand distribution and launch a series of global partnerships.
"This additional funding is a great vote of confidence in our company, our team and most importantly in the Divide(TM) Platform, which fundamentally changes the way mobile professionals use their smartphones in the workplace," said Andrew Toy, CEO of Enterproid. "Enterproid solves the compelling challenge of allowing individuals who use their personal device at work to create a secure, IT-friendly business profile without compromising the individual's privacy or choice of device."
As the BYOD (Bring Your Own Device) trend continues to accelerate globally, the Divide(TM) Platform helps companies accommodate and support employee-owned devices within the corporate IT environment and gives employees a dual persona on their device that delivers secure access to business productivity applications, without compromising personal privacy. Currently in beta and soon available for download on the Android Market, Divide(TM) delivers multiple profile support, productivity apps and a fully managed and secure environment.
Divide(TM) gives employees access to a full set of remote management capabilities without requiring the installation of any desktop or server software or any support from corporate IT. Lost devices can be remotely located and wiped with corporate data being erased on the entire handheld.
For IT administrators, Divide(TM) is a critical new tool that includes a fleet-management console for supporting enterprise-wide policy deployment and enforcement including the ability to see all connected devices, set policies by group, perform remote wipes of corporate data, lock corporate profiles and administer password resets. Additionally, Divide(TM) has built-in expense management tools to help identify roaming devices and display network operator usage data.
"Employees bringing their own devices to work is a growing phenomenon, and Enterproid has found a solution for the challenge it creates for businesses' privacy and security," said Dave Zilberman, Principal at Comcast Ventures. "We think Enterproid provides meaningful customer value, has the potential to disrupt an industry and, most importantly, changes the way people live, work and interact. Our infusion of new financing, alongside impressive investors, enables Enterproid to accelerate its growth plans."
About Enterproid, Inc.
Enterproid helps organizations and individuals get the most out of mobile technology. The company's flagship Divide(TM) Platform combines cloud-based management with device-level technology that ensures enterprise security and control without compromising personal freedom and privacy. Founded by former mobile executives and engineers from Morgan Stanley, Enterproid is headquartered in New York, with offices in London and Hong Kong. Enterproid's seed round investors included Genacast Ventures, High Peaks Venture Partners, and NYC Seed. The company was the Grand Prize winner of Qualcomm's QPrize at the 2011 Demo Spring conference. Learn more at www.enterproid.com , @dividemobile.
About Comcast Ventures
Comcast Ventures is the venture capital affiliate of Comcast Corporation. It consists of the recently combined Comcast Interactive Capital and NBC Universal Peacock Equity Fund and has a portfolio valued at $750 million under management. Comcast Ventures invests in innovative businesses that represent the next generation of entertainment, communications and digital technology by partnering with entrepreneurs who have the vision, passion and tenacity to succeed. Its primary goal is to generate superior financial returns through the success of its portfolio companies by applying the unique resources, contacts, experience, and insight of Comcast's family of companies.
About Google Ventures
Google Ventures is the venture capital arm of Google Inc. We seek to discover and help develop great companies, and believe in the power of entrepreneurs to do amazing things. Our investments range from seed to late stage, across a broad range of industries, including consumer Internet, digital media, software, hardware, and biotechnology. We embrace the challenge of helping young companies grow from the proverbial garage to global relevance. For more information, visit www.googleventures.com .
About Qualcomm Ventures
Qualcomm Ventures, the venture investment group of Qualcomm Incorporated, was launched in the United States in November 2000 with an initial US$500 million allocation. Qualcomm Ventures' aim is to support Qualcomm's mission of enabling and fostering 3G and wireless Internet markets through investments in privately owned startup ventures. These investments include companies focusing on wireless communication technologies and products serving consumer, enterprise and vertical markets worldwide. For more information, please visit www.qualcomm.com/ventures .
SOURCE: Enterproid, Inc.