IronKey Raises $22 Million

IronKey Inc., a Los Altos, Calif.-based provider of secure portable computing solutions, has raised $22 million in new VC funding. Bridgescale Partners led the round, and was joined by return backers Mohr Davidow Ventures, Leapfrog Ventures and Crosslink Capital.

 

PRESS RELEASE

IronKey Inc. (www.ironkey.com), the maker of secure portable virtual computing systems, today announced the completion of a financing round led by new investor Bridgescale Partners with participation from existing investors Mohr Davidow Ventures and Crosslink Capital.  In addition, Matthew Cowan, co-founder of Bridgescale Partners, will join IronKey’s Board of Directors.  The company’s new financing will be utilized to accelerate adoption of IronKey’s landmark Trusted Access™ platform; the world’s most secure network access and data protection system for enterprises and government agencies.

“We are excited to have Bridgescale join our investor team and welcome Matthew to our board,” said David Jevans, co-founder and CEO of IronKey.  “This financing will enable us to expand our leadership position in secure virtual computing.  Enterprises are under attack from malicious software, compromising the security of personal information and exposing them, their employees and their customers to unprecedented levels of fraud losses.  Businesses are increasingly demanding IronKey’s unique solutions to address the growing number and sophistication of these threats,” Jevans continued.

“The desktop virtualization market could easily grow larger than the market for server virtualization; but unique security challenges must be addressed,” said Matthew Cowan of Bridgescale Partners. “IronKey does exactly this, as its Secure Portable Virtualization technology is a critical component in locking down enterprise networks.”

About IronKey

IronKey’s award-winning computer security services and devices bring the power of authentication, encryption, identity protection management and privacy to government, businesses and consumers in 23 countries. IronKey’s management software and associated services allow enterprises of all sizes, government agencies, the military and other organizations to take back control of the mobile data that has been leaking out of their organizations due to the uncontrolled proliferation of USB drives. IronKey products are FIPS 140-2, Level 3 validated. With IronKey, organizations centrally administer, remotely manage, and enforce policies on thousands of devices located anywhere in the world. Thousands of customers use IronKey, including Fortune 500 companies, enterprise organizations in financial services, healthcare and legal markets, as well as government agencies, including FEMA, NATO and DHS. For more information, please visit www.IronKey.com.

About Bridgescale Partners

Bridgescale Partners (www.bridgescale.com) is a Menlo Park, California based growth equity firm providing expansion capital to U.S. and Canada-based, later-stage technology companies.  The founding team has more than 40+ years of venture capital experience at leading early- and later-stage institutions.  Additionally, the team has invested in more than 100 technology companies in the software, security, digital media, Internet, communication markets.