Mocana, a security software company that delivers comprehensive protection for smart devices, has closed a strategic investment from Symantec Corp with existing institutional investors Southern Cross Venture Partners and Shasta Ventures also participating in the round. The infusion of funding will be used to expand the company's product lines, build out its international presence and increase marketing activities. The investment is further paired with a technology partnership between Symantec and Mocana in an effort to extend security services to several new classes of connected non-PC "Smart Devices."
Connected non-PC "Smart Devices" including smartphones represent a $900 billion dollar hardware, software and services ecosystem that's growing more than twice as fast as PCs. Mocana has already established itself as the leader in this technically challenging market space, where dozens of different operating systems run on scores of different CPU architectures. Furthermore, securing these Smart Devices requires software on the device and cloud services and is especially difficult because resources that PC developers can take for granted - like memory, CPU horsepower and even power reserves - are often severely limited in smart devices. Still, these devices are flooding on to the Internet, and by some estimates already outnumber PCs by at least 5 to 1. Mocana CEO Adrian Turner said, "We look forward to a deep and fruitful collaboration with Symantec to deliver a global platform for securing non-PC devices. The Symantec investment will help Mocana cement its position as a leader in securing smart devices."
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