With mobile devices becoming an increasingly critical part of how companies communicate and do business, there is an unquestioned need for effective and reliable security on said devices. Thanks to this need as well as the advancements and dominance of both the Android and iOS platforms, companies like Toronto’s Fixmo Inc. represent a boon to enterprises and government bodies alike.
Fixmo deals in mobile risk management (MRM), providing a bevy of products and device management (including bring your own device) options for businesses of all sizes as well as parties dealing in healthcare and government.
Their ability to do so earned the company an investment round in November of last year totalling $23 million from prominent VCs Paladin Capital Group and Kleiner Perkins Caufiled & Byers among others. That cash infusion came following the company’s agreement with the U.S. National Security Agency (NSA) to commercialize technology that the two parties had developed together.
The company has peaked investment interest again, announcing last week that Motorola Solutions Inc.; the independent VC arm of the handset manufacturer that now belongs to Google has made an investment of $1-$5 million in the Canadian firm.
According to the Globe and Mail, Motorola Solutions Inc. sees a growing need for multi-platform mobile security for companies of all kinds particularly those dealing with highly confidential data and information such as law enforcement, government agencies and contractors and hospitals.
Ironically, Fixmo has prospered due in large part to the mobile security industry and the devices it is required for trending away from another Canadian company. That would of course be RIM, who at one time represented the gold standard for banks, government agencies and law enforcement among others. RIM has come to represent less than 2% of the world’s smartphone market (TQ was on it), making a focus on Android and iOS devices more than ever. Those platforms represent 64.1% and 18.8% of the market respectively. Fixmo is at the forefront of protecting such devices, and we sincerely wish them the best moving forward.
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