Kryptowire mobile security and privacy solutions poised for accelerated growth as businesses and consumers increase mobile device usage
Kryptowire Inc., a mobile security and privacy solutions company, 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.
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“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.”
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