Canadian Startup Fixmo Raises Money from Samsung Ventures

January 22, 2013

Toronto-based Fixmo, which specializes in mobile security and risk management solutions for public and private sector organizations, today announced that it has received a strategic investment from Samsung Ventures, the venture capital arm of the Samsung Group.

Terms of the Samsung Ventures investment were not disclosed, but we know the company has already raised well over $30 million to date. Fixmo says that the funding will be used to advance research and development in the areas of mobile device integrity verification, data loss prevention, risk analytics, and trusted mobile computing.

The Canadian startup’s mobile security products are used by government agencies and enterprise customers around the world for securing and managing their mobile devices, business apps, and corporate data across company- and employee-owned smartphones and tablets. Its products include Fixmo Sentinel, Fixmo SafeZone, and Fixmo AppZone.

“Samsung Venture Investment Corporation aligns with innovative companies that demonstrate potential strategic fit with Samsung,” explains Hyuk-Jeen Suh, Senior Investment Manager with Samsung Ventures America. “Secure enterprise mobility, BYOD and personal privacy protection are some of the most important and exciting areas in the telecommunications market. Fixmo is poised to deliver next-generation solutions that help IT departments, business professionals and consumers remain secure and protected while embracing the next wave of mobility technology trends.”

“The investment from Samsung Ventures will further advance our research and development activities in the areas of mobile security, device integrity verification, adaptive policy management and compliance assurance,” added Rick Segal, CEO of Fixmo. “These solution areas are becoming increasingly important to customers around the world as they embrace Consumerization and the BYOD approach, but cannot sacrifice security, integrity, compliance or employee productivity.”

In August 2012, Motorola Solutions Venture Capital also announced a strategic investment and partnership with Fixmo.