MobileIron Raises $11M in Series B Funding, Co-Led by Norwest Venture Partners, Sequoia Capital, and Storm Ventures
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SUNNYVALE, Calif.--(Business Wire)-- MobileIron, a company dedicated to making smartphones enterprise-ready, today announced its $11M Series B financing round. The round was co-led by Norwest Venture Partners, Sequoia Capital, and Storm Ventures. MobileIron solves the new problems CIOs face as enterprise data moves to the smartphone. MobileIron`s Virtual Smartphone Platform uses proprietary mobile data virtualization technology to provide both smartphone management and real-time wireless cost control to IT and end-users. "The smartphone opportunity is enormous," says Gaurav Garg, Partner at Sequoia Capital. "MobileIron`s innovative technology positions it to play a pivotal role in the expansion of smartphones in the enterprise." "We`ve backed this team before and we are confident they can create the same level of success at MobileIron," adds Matt Howard, General Partner at Norwest Venture Partners (NVP). "The team`s deep experience in both mobility and building enterprise-class products enables them to fill a critical void in the market with the MobileIron Virtual Smartphone Platform." Tae Hea Nahm, Managing Director at Storm Ventures, has advised the company since inception. "MobileIron was incubated at Storm in 2007 with the goal of solving the new smartphone challenges that legacy technologies can`t handle," he notes. "MobileIron`s mission is to enable our customers to embrace smartphones throughout their organizations," says Bob Tinker, CEO of MobileIron. "Our partnerships with Norwest, Sequoia, and Storm play an important role in our ability to do this." About MobileIron MobileIron makes smartphones enterprise-ready by solving the new problems CIOs face as enterprise data moves to the smartphone. The MobileIron Virtual Smartphone Platform is the first solution to combine data-driven smartphone management with real-time wireless cost control to put IT and end-users fully in charge of their mobile content, activity and applications. MobileIron`s investors include Norwest Venture Partners, Sequoia Capital, and Storm Ventures. For more information, please visit www.mobileiron.com. About Norwest Venture Partners Norwest Venture Partners (NVP) is a global, multi-stage investment firm that manages more than $2.5 billion in capital out of its offices in Palo Alto, California, Mumbai and Bangalore, India and Herzelia, Israel. NVP makes early to late stage venture and growth equity investments in U.S. and global companies across a wide range of sectors including: information technology, business services, financial services and consumer. NVP has actively partnered with entrepreneurs to build great businesses for more than 48 years and has funded over 450 companies since inception. For more information, please visit www.nvp.com. About Sequoia Capital Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of Network Appliance, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of NVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube, Dominic Orr and Keerti Melkote of Aruba Wireless Networks and Jonathan Kaplan of Pure Digital. For more information, please visit www.sequoiacap.com. About Storm Ventures Storm Ventures was founded in 2000 by a seasoned group of industry veterans with the common vision of sharing our collective experience, passion and energy to help talented and driven entrepreneurs build great companies of enduring value. Storm Ventures focuses on seed and early stage information technology companies which best leverages the team's operational perspective and experience and enables Storm to add value in the critical early stages of a company's development. For more information, please visit www.stormventures.com. MobileIron Ojas Rege, 650-228-4748 ojas@mobileiron.com or Sparkpr for MobileIron Clarissa Horowitz, 415-321-1881 Clarissa@sparkpr.com Copyright Business Wire 2009
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