Mobile Security Software Developer Optio Labs Raises $10 Million in Series A Roundrmplaskon
Boston (March 5th, 2014) – Optio Labs, a developer of transformational security and productivity technologies for mobile and embedded systems, announced the closing of a $10 million Series A funding round. Participants in the round include Optio Labs’ parent company, Allied Minds Inc., as well as several private investors.
Optio Labs develops mobile security software solutions for federal agencies, commercial enterprises, and device manufacturers. The company’s flagship product, OptioCore, has been recognized as the only security solution able to meet stringent U.S. Federal government mobile security policies while maximizing the full range of productivity benefits of Android devices. The company plans to use the funds to expand engineering capacity and accelerate the development of additional solutions for commercial and embedded systems markets.
“We are excited that investors recognize the strong market potential for our products, as well as the talent behind those technologies, and support our efforts to take this company to scale,” said Matt Hartley, General Manager of Optio Labs.
According to London-based research firm Visiongain, the global mobile security market is poised to experience substantial growth over the next several years, driven by the increasing proliferation of smart mobile devices. Visiongain estimated the market value of these solutions reached about $3.5 billion in 2013, a year when for the first time shipments of mobile devices surpassed desktops and laptop PCs. (McKinsey Global Institute)
“Global mobile security is a multi-billion dollar market, and the Android OS is the fastest-growing operating system worldwide,” said John Serafini, vice president at Allied Minds. “Optio Labs addresses key gaps in Android security, and this investment will allow the company to expand and create additional solutions across multiple platforms.”
ArcPoint Strategic Communications