MobileIron Raises $40M in Series the Funding

MOUNTAIN VIEW, Calif. May 29, 2012 MobileIron, the leader in Mobile IT security and management for apps, content, and devices, today announced its $40 million Series E mezzanine financing round. The investment was led by Institutional Venture Partners which joined existing investors Foundation Capital, Norwest Venture Partners, Sequoia Capital, and Storm Ventures. The round brings MobileIron's total funding to $97 million. It will be used to accelerate global growth and drive product innovation. Earlier this month, MobileIron was positioned in the Leaders quadrant of Gartner, Inc.s Magic Quadrant for Mobile Device Management Software 2012.

Mobile is driving a massive shift within the enterprise. IT departments are reorganizing themselves to focus on Mobile IT. Mobile apps, content, and devices are becoming the strategic computing platform for their users, said Bob Tinker, CEO. MobileIron is building a standalone, market-leading company to provide customers and partners globally with the mobile technology and best practices to make their Mobile IT initiatives successful.

The market for mobile device management and security software is experiencing explosive growth, said Norm Fogelsong, General Partner at Institutional Venture Partners (IVP). MobileIron has achieved extraordinary customer traction and has emerged as the most dynamic player in this space. We look forward to working with Bob Tinker and his team to help them accelerate the global expansion of their business.

For more information, please visit www.mobileiron.com.

About MobileIron

Positioned in the Leaders Quadrant of Gartner, Inc.s Magic Quadrant for Mobile Device Management Software 2012, MobileIron has been chosen by thousands of organizations that are transforming their businesses through Mobile IT. Available as an on-premise or a cloud solution, MobileIron was purpose-built to secure and manage mobile apps, data, and devices for global companies. MobileIron was the first to deliver key innovations such as multi-OS mobile device management (MDM), mobile application management (MAM), and BYOD privacy controls. For more information, please visit www.mobileiron.com.

About Institutional Venture Partners (IVP)

With $3 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. The partnership is currently investing IVP XIII, a $750 million later-stage fund focused on investments in rapidly growing technology and media companies. Founded in 1980, IVP has invested in over 300 companies, 90 of which have gone public. IVP is one of the top performing firms in the industry and has a 31 year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. Since its inception, IVP investments include such notable companies as ArcSight (HPQ), Aspect Communications, ComScore (SCOR), Concur Technologies (CNQR), Digital River (DRIV), Dropbox, HomeAway (AWAY), Juniper Networks (JNPR), Kayak, LegalZoom, LivingSocial, MySQL (ORCL), Netflix (NFLX), Polycom (PLCM), Seagate (STX), Shazam, Synchronoss (SNCR), Tivo (TIVO), Twitter, and Zynga (ZNGA). For more information, visit http://www.ivp.com or follow IVP on Twitter: http://twitter.com/ivp.

LINK:	http://www.ivp.com/news/press-release/mobileiron-raises--40m-in-series...
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