Trust Digital, a McLean, Va.-based provider of enterprise mobility management solutions, has raised $14.5 million in Series C funding. Summerhill Venture Partners led the round, and was joined by Fairhaven Capital, Core Capital Partners, Avansis Ventures, MMV Financial and Square 1 Bank.
Trust Digital, the leading enterprise mobility management (EMM) provider, today announced the company has secured $14.5 million in funding from Summerhill Venture Partners, Fairhaven Capital, Core Capital Partners, Avansis Ventures, MMV Financial and Square 1 Bank. The funding will be used to extend Trust Digital’s EMM platform support to include Research In Motion’s BlackBerry devices and new consumer devices like the Apple iPhone and Google Android, to expand direct sales and channel partner support and for other working capital needs.
“With the advent of blockbuster consumer devices like the iPhone, knowledge workers are rapidly going mobile with or without the help of their CIO. Trust Digital has figured out how to tap this huge market by giving CIOs a way to keep pace with smartphone technology, while also securing and managing their mobile workforce. We are bullish on this market and Trust Digital’s unique position in it,” said Joe Catalfamo, managing director at Summerhill Venture Partners.
According to estimates from analyst research firm IDC, close to 75 percent of the U.S. workforce will be mobile by the end of 2011, making mobility management and security an increasingly critical discussion point for the enterprise. These mobile knowledge workers rely increasingly on consumer-oriented smartphones, such as the iPhone, that blend enterprise and consumer applications. This rapidly evolving smartphone market creates new security challenges for CIOs in government, healthcare and education, where mobility is pervasive and government mandates require stringent protection of information. Trust Digital’s enterprise mobility management platform secures and manages a truly heterogeneous smartphone environment – regardless of carrier or manufacturer – whereas mobile vendors such as Microsoft offer only “OS-specific” solutions.
Trust Digital’s enterprise mobility management platform helps the CIO control smartphone costs while also protecting corporate information. Gartner Group believes that smartphone total cost of ownership (TCO) is roughly 10 times the cost of the device. Trust Digital’s centralized management eliminates operational expense by simplifying how IT administrators and help desk specialists implement policies, assist users and enforce compliance for mobile applications across the enterprise. In addition, its unique software-overlay architecture avoids datacenter expense by easily integrating with existing directory services, database resources and VPN infrastructure.
“CIOs choose Trust Digital because we ready the enterprise to secure and manage any smartphone. This is proven by our customer and partner wins over competitive products from Microsoft and others,” said Nick Magliato, chief executive officer at Trust Digital. “The business value of our platform and our sales momentum in the mobility market helped accelerate our fundraising efforts. For this I am very proud of our employees and the business we built.”
About Trust Digital
Trust Digital is the leading provider of enterprise mobility management software for government organizations and Global 2000 companies. IT organizations rely on Trust Digital’s solution to cost-effectively secure, rapidly deploy and centrally manage their smartphones. Trust Digital’s unique software-overlay methodology simplifies how IT administrators and help desk specialists implement policies, assist users and enforce compliance for mobile applications. Trust Digital is the trusted mobility company. For more information, please visit our website, www.trustdigital.com.