Enterprise Mobility, BYOD Startup AirWatch Adds $25M From Accel To Take Its Series A Total To $225M, As It Preps For Acquisitions
Summary
AirWatch, the startup that helps businesses manage security and more on employees’ mobile devices, is today announcing that it has raised another $25 million, led by Accel with participation also from Insight Venture Partners. The funds come as part of an expanded Series A round, originally for $200 million, which the company announced with a splash in February during Mobile World Congress. As with the earlier $200 million, this latest injection will be used to help AirWatch build out its business, add more services, and quite possibly make some acquisitions along the way. The funding, and AirWatch’s moves to grow, are signs of a consolidation afoot in the area of mobile enterprise services, specifically around mobile device management and the larger “BYOD” trend, where workers are following larger consumer trends using smartphones and tablets to do everything online, and are increasingly bringing in their devices to the office to help them work there, too. “This is the largest investment we’ve made in mobile enterprise to date but [the trend of] folks bringing phones and tablets from home to work and leaving with your PC in your pocket are still growing, so we think mobile enterprise will be a growth area for 3-5 years for sure.” Marshall says AirWatch is currently adding 500 business per month, which would put its current client base at around 7,500, with some of the bigger names including Delta, Lowe’s; United Airlines; Bureau of Alcohol Tobacco, Firearms and Explosives (ATF); Skanska; PepsiCo; Henry Ford Health System; Mount Sinai Medical Center; Best Buy and Abbott Laboratories.