Samsung Ventures invests in Fixmo
Samusung Venture Investment Corp, the venture capital unit of Samsung Group, has invested in Canada's Fixmo, a mobile security solutions firm. Details of the transaction were not disclosed.
Fixmo, which has raised over C$30 million ($30 million) in funding since 2010, provides solutions for organizations securing their mobile devices, business applications and private corporate data across company-owned and employee-owned, bring-your-own-device (BYOD), smartphones and tablets.
The funding will be used for further research and development in the areas of mobile device integrity verification, data loss prevention (DLP), risk analytics and trusted mobile computing.
Fixmo's current products include Fixmo Sentinel, Fixmo Safezone and Fixmo AppZone which cater to clients including government agencies and private enterprise. The company has also recently entered the consumer mobile security market with its "3 Super Safe" personal mobile security and protection solution for mobile network 3 Hong Kong.
"Samsung Venture Investment Corporation aligns with innovative companies that demonstrate a potential strategic fit with Samsung," said Hyuk-Jeen Suh, a senior investment manager with Samsung Ventures America, in a statement. "Secure enterprise mobility, BYOD and personal privacy protection are some of the most important and exciting areas in the telecommunications market."
Samsung Ventures is the second venture capital group to make a strategic investment in Fixmo in the past six months. In August 2012, Motorola Solutions Venture Capital also announced a strategic investment and partnership with Fixmo.
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