February 16, 2022– McLean, VA, United States – Kryptowire Inc., a mobile security and privacy solutions company, today announced a growth investment led by US Venture Partners (USVP), with participation from Crosslink Capital. The new funding will be used to accelerate the adoption of intrusion-free mobile security into targeted verticals – including healthcare, financial services and education – and support further product development.
Mobile device and operating system (iOS and Android) use has increased rapidly in the pandemic era. As more exchanges, transactions, and communications go “mobile-first,” the impact of adverse security events grow in lockstep. Accordingly, businesses need AI cloud-based mobile security solutions that not only safeguard mobile devices from bad actors, but also provide intrusion-free protection to its end users. In 2021 alone, Kryptowire scanned over 3 billion lines of code across 70,000 applications, discovering over 500 vulnerabilities affecting approximately 2 billion devices.
“The use of mobile devices and mobile operating systems in general continue to be an essential part of our personal and professional lives, making the ability to proactively protect end-to-end security while preserving user privacy paramount,” says Dana Waldman, Chief Executive Officer, Kryptowire. “With this investment, we will help more organizations implement uncompromising protection with no intrusion into sensitive personal data.”
Founded in 2011, Kryptowire developed and launched its Mobile Application Security Testing (MAST) service, leveraging its military-grade proprietary analysis engine. This AI enabled, cloud-based service gives organizations the ability to automatically scan mobile content for security, privacy, and compliance issues without accessing source code. This saves time, reduces human resource burdens, and preserves end user privacy.
“The distributed workforce is the way we will work now and in the future. The enterprise workforce is mobile and security solutions must follow the workers," said Steve Krausz, General Partner at USVP. “Kryptowire elevates security and privacy standards for organizations and end-users embracing a ‘work anywhere’ environment.”
“Kryptowire’s platform saves security leaders time and resources, by providing a proactive service that advances security and privacy for millions of end-users, globally,” says Matt Bigge, Partner at Crosslink Capital. ”We are excited to participate in this investment to help secure the fastest growing attack surface in the world – mobile devices. We look forward to working with the team to bring its technology to organizations with clear mobile security needs.”
About U.S. Venture Partners
U.S. Venture Partners (USVP) is a leading Silicon Valley venture capital firm, partnering with entrepreneurs to transform their ideas into world-changing companies. USVP has invested in over 500 companies spanning four decades, including: Box, Check Point Software, Guidewire, HeartFlow, HotelTonight, Imperva, Inari Medical, Inspire Medical Systems, Intersect ENT, Luminate, Omada Health, ON24, Pluto TV, Prevoty, Sequent, Silverback Therapeutics, ThreatMetrix, Trunk Club, Trusteer, Vontu, Yammer and Zerto. USVP focuses on early-stage start-ups that transform cybersecurity, enterprise software, consumer and healthcare. The USVP team consists of former entrepreneurs, technologists, corporate executives, and financial professionals who assist with strategy, scaling, team building, product development, and business development. USVP is based in Menlo Park, California.
About Crosslink Capital
Crosslink Capital, founded in 1989, is based in Menlo Park and focuses on early stage venture capital investing, backing entrepreneurs who are building disruptive and market-transforming companies. Crosslink has raised nine venture capital funds and manages over $3.6 billion. For more information visit www.crosslinkcapital.com.
About Kryptowire Inc.
Kryptowire is a leader in cloud-based mobile security and privacy solutions, delivering organizations and end-users the peace of mind that comes with intrusion-free mobile security. We enable organizations to scan mobile devices and applications for security, compliance, and other vulnerabilities without accessing source code, saving time and preserving privacy. Our mission is to make world-class mobile security available to more businesses and communities around the world.
Please visit www.kryptowire.com or connect with us on LinkedIn and Twitter (@kryptowire) for more information.