WatchDox Nabs $12m Funding
Summary
Back in December we reported that Israeli startup WatchDox had acquired virtualization technology and mobile app firm InstallFree. Well, now the Dropbox-for-enterprise has nabbed a rather chunky $12m in funding, to help take its “leak-free”, document-sharing and collaboration platform to the masses. One of the key selling points of WatchDox is for firms that adopt a bring-your-own-device (BYOD) policy, letting them destroy documents remotely if a device goes missing The latest funding round sees Millennium Technology Value Partners join existing WatchDox investors such as Blackstone, Gemini Israel Funds, Shasta Ventures and security expert Shlomo Kramer. WatchDox will also use the funds to expand its sales team as it tries to lure new customers in financial services, pharmaceutical, biotechnology, legal, energy, manufacturing, insurance and government markets. “Joining WatchDox in Millennium’s portfolio of successful companies reinforces the feedback we hear from enterprises, which are realizing that the right strategy is to provide their users the file sync and sharing capabilities they want, while ensuring that IT gets the persistent control, tracking and revocation capabilities needed to stay protected and compliant.” Read next: Google starts selling the Nexus 4 again in the US and Germany, but other countries still left in the dark