NowSecure, an Oak Park, Illinois-based mobile security company, secured $12.5m in Series A funding.
The round was led by Baird Capital with participation from Jump Capital and Math Venture Partners. In conjunction with the funding, Jim Pavlik, Baird Capital Partner, joined NowSecure’s Board of Directors.
The company intends to use the funds to accelerate product development.
Founded in 2009 as viaForensics by Andrew Hoog and Chee-Young Kim, NowSecure is a developer of a mobile security platform that allows financial, healthcare and governmental institutions to protect their data on mobile devices.
NowSecure Mobile, (formerly viaProtect) which users can download for free to secure their Android or iOS device and provides organizations with enterprise-level mobile threat intelligence and vulnerability management; NowSecure App Testing, (formerly viaLab) which provides automated static and dynamic testing on the security of custom and third party mobile apps; and
NowSecure Forensics (formerly viaExtract), which helps provide access to and analysis of critical data on mobile devices.
Last month, the company announced a new Community Edition of its NowSecure App Testing tool, allowing developers to perform advance testing on their apps to uncover potential weaknesses before they are released.
Clients include four of the five largest banks and large corporations across industries including finance, defense and healthcare.