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Funding will fuel growth and enable Divide to invest in partnerships
NEW YORK, Oct. 8, 2013 /PRNewswire/ -- Enterproid, developers of Divide™, the secure mobile platform, announced today it has secured $12 million in Series B funding led by Google Ventures and will now conduct business under the Divide name. The latest investment -- which includes participation from existing investors Comcast Ventures and Qualcomm Incorporated, through its venture capital arm, Qualcomm Ventures, as well as new investors Globespan Capital Partners and Harmony Partners -- brings Divide's total funding to $25 million.
Divide, which was founded in 2010 to provide an innovative no-compromise BYOD solution, will use the investment to accelerate its growth and capitalize on key partnerships with companies such as IBM, Vodafone, Verizon and Tangoe. Since its launch, Divide has been downloaded more than 200,000 times by consumers and professionals through the Apple App Store and Google Play. The Divide platform is seeing even faster growth among corporate clients, with a more than 10 fold increase in paid licenses so far this year. Divide sells to hundreds of customers including some of the world's largest financial, healthcare and technology companies as well as federal agencies and small and medium-sized businesses.
"Divide provides a simple, secure and standardized solution for BYOD that is unique in its ability to win over both IT decision makers and employees," said Divide CEO Andrew Toy. "We're taking this opportunity to embrace the Divide name, which best embodies the work we do in securing business data on employee-owned devices. Our mission has resonated with hundreds of enterprises looking for a better mobility solution for solving BYOD."
Divide, available on iOS and Android as a free app or with an enterprise subscription, offers an encrypted workspace container on employee devices that keeps business data and apps separate and secure from the personal side of the device. Corporate customers can manage Divide through the cloud-based Divide Manager console or through select mobile device management (MDM) partners. Divide also offers the industry's first customized container, allowing businesses to extend their brand to mobile devices.
"With the changes in the mobile landscape, enterprises are looking for a way to transform today's smartphone into an enterprise-ready mobile device," said Rich Miner, General Partner at Google Ventures. "Divide delivers a fully functional smartphone experience, while adding all the security, policy enforcement, manageability and core apps you'd expect from a best-in-class enterprise mobile platform."
Divide delivers easy, secure enterprise mobility, enabling organizations and individuals to get the most out of mobile technology and corporate BYOD policies. Divide offers a secure container solution that includes cloud-based management with advanced on-device technology for enterprise security and control without compromising personal freedom and privacy. Founded by former mobile executives and engineers from Morgan Stanley, Divide is headquartered in New York, with offices in London and Hong Kong. Divide investors include Google Ventures, Comcast Ventures, and Qualcomm Ventures. Learn more by visiting our website, or by following @divide on Twitter. Divide can be downloaded for free from Google Play and the Apple App Store.
About Google Ventures
Google Ventures provides seed, venture and growth stage funding to the most innovative and promising entrepreneurs across a variety of industries. Founded in 2009, Google Ventures has extensive entrepreneurial experience, deep technical knowledge, and expertise in building high growth, scalable products and companies.
About Comcast Ventures
Comcast Ventures is the venture capital affiliate of Comcast Corporation. Comcast Ventures invests in innovative businesses that represent the next generation of digital, entertainment, media, social, e-commerce and advertising technologies that will change the way people live, work and interact. Comcast Ventures consists of the previously combined Comcast Interactive Capital and NBCUniversal Peacock Equity Fund.
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 industries through investments in privately owned startup ventures. These investments include companies focusing on wireless communication technologies and products serving consumer, enterprise and vertical segments worldwide. For more information, please visit www.qualcomm.com/ventures. Qualcomm is a trademark of Qualcomm Incorporated, registered in the US and other countries. All Qualcomm Incorporated trademarks are used with permission.
About Globespan Capital Partners
Globespan Capital Partners is a global venture capital firm with over $1 billion under management. Globespan primarily invests in go-to-market rounds of information technology, Internet and mobile communications companies. Their investment team has a proven track record of effectively working with entrepreneurs, top tier co-investors and strategic partners to help build market-leading companies. Based in Boston, Globespan invests throughout the world on behalf of an international base of limited partners.
About Harmony Partners
Harmony Partners is a highly differentiated venture capital firm with offices in Silicon Valley and New York City. Purpose-built to better serve capital efficient companies, the firm fills a gap in the market for expansion-stage capital. Through flexible investment amounts, streamlined business processes, and an accommodating approach, Harmony enables entrepreneurs to own more of their companies, focus on the core business, and enhance exit flexibility. Since 1993, the founding partners have invested in over 50 technology-driven companies, including ComScore, Coremetrics, E*Trade, Greenbox, Infinity Pharma, Predictive Systems, Priceline.com, Peribit, SS&C, Swype, Scopus, and YesMail.
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