August 17, 2009
Investors, Norwest Venture Partners, Sequoia Capital, and Storm Ventures Lead $11 Million Investment in Series B Funding for MobileIron
Based in Sunnyvale, California, leading smart phone company, MobileIron announced today that it has received $11 million in series B funding with Norwest Venture Partners, Sequoia Capital, and Storm Ventures leading the funding round. Other investors who participated in this round of funding have not been disclosed by the company.
MobileIron is a company that is dedicated to upgrade smart phones and make them enterprise ready. MobileIron works with the smart phones and their manufacturers to cooperate with CIOs to help solve problems that arise when enterprise data comes to the smart phone and other small mobile devices. One of the first solutions that MobileIron has come up with is the MobileIron Virtual Smart Phone Platform, which combines the data driven smart phone with real time smart phone wireless costs. This platform is very innovative, because it allows for cooperation with IT and end users.
According to Gaurav Garg, partner with Sequoia Capital; the opportunity in the smart phone industry is enormous. Furthermore, MobileIron has an innovative proprietary technology which has the potential to play a pivotal role in the expansion of smart phones in the enterprise world. Matt Howard, partner at Norwest Venture Partners also added that Norwest has backed MobileIron before because their management team has the experience in both the mobile and enterprise industries and the team at Norwest Venture Partners feels confident that this would be a great opportunity for a successful investment.
According to the managing director of Storm Ventures, Tae Hea Nahm; Storm Ventures has been a supporter and an investor of MobileIron since the company was founded. Storm Ventures started to incubate MobileIron in 2007 and the vc firm sees the opportunity in MobileIron and its innovative technology, which would coordinate the enterprise world with the smart phone.
According to MobileIron’s CEO, Bob Tinker; MobileIron has a mission to enable its clients to embrace smart phones throughout their organizations.
Founded in 2000, Storm Ventures is a vc firm that is comprised of a team of seasoned tech industry veterans. Storm Ventures is a vc firm that primarily invests in early stage companies who are in the tech industry and have a proprietary technology that is innovative and can potentially disrupt the markets. Some other companies in Storm’s portfolio include Qwaq, Lighterra Networks, Access360, SandForce, Storm Watch, Kineta Wireless, Cell Fire, Picateers, and others.
Sequoia Capital is a prominent vc firm that is run by some of the United States’ most well known entrepreneurs, such as Steve Jobbs of Apple Computers, Len Bozack of Cisco Systems, Laqrry Ellison of Oracle, and other key people in the US tech industry. The people at Sequoia believe in funding those creative and innovative entrepreneurs who have the desire and the passion to turn their ideas into great companies. Some other companies in Sequoia’s portfolio include A123, Dropbox, Linkedin, Loopt, Meebo, Infoblox, and others.
Norwest Venture Partners is a large vc firm that invests in all stages of a company’s life. Norwest Venture Partners is an international vc firm with offices in Palo Alto, California, and in Mumbai and Bangalore, India with over $2.5 billion in committed capital under its management. Some other companies in Norwest’s portfolio include 3Jam, Brand.net, Jigsaw, Kayak, LendingClub, Nanotex, Nearby Now, Picateers, UnisFair, and others.
For more information about MobileIron, click here.