Emerging Technology Insider
Privoro raises an additional $30 million to advance its hardware-backed mobile security
We've been working in close collaboration with our government partners for years to fine-tune our offerings, particularly with an eye toward enabling smartphones within secure spaces where classified information is shared.
Privoro, a next-gen mobile security hardware company, today announced a $30 million Series B funding led by an affiliate of Tracker Capital Management, LLC ("Tracker Capital"). The round will be used to help the company continue to scale its team, products, and operations to meet demand for its unique hardware-backed mobile device protections.
Privoro's SafeCase™, a smartphone-coupled security device, helps organizations actively defend against the threat of audio and video surveillance posed by spyware, which can discreetly hijack cameras and microphones to extract sensitive information.
"We've been working in close collaboration with our government partners for years to fine-tune our offerings, particularly with an eye toward enabling smartphones within secure spaces where classified information is shared," said Mike Fong, Privoro's founder and CEO. "This latest funding round is a testament to the fact that our company is uniquely positioned to solve critical customer problems related to delivering secure mobility."
SafeCase has undergone extensive testing by some of the most security-sensitive federal agencies and was recently approved for use in classified facilities by the National Telecommunications Security Working Group (NTSWG), the primary technical and policy resource for surveillance countermeasures in the U.S. Intelligence Community. In addition to keeping threat actors from listening to a target's conversations and surveilling their surroundings, SafeCase will serve as the cornerstone to several additional critical use cases in the near future.
Privoro also offers Vault™, a two-in-one portable Faraday enclosure and audio masking chamber for smartphones that enables users to easily protect themselves from wireless attacks, location tracking, and audio/video surveillance.
As part of the transaction, Louis Bremer, Senior Managing Director of Tracker Capital, and Daniel Goldin, Senior Advisor to Tracker Capital and the longest tenured National Aeronautics and Space Administration ("NASA") Administrator, have joined Privoro's Board of Directors.
"Within the national security community, the use of commercial smartphones has long been viewed more as an operational vulnerability than a tool for driving mission success," said Mr. Bremer. "We believe that Privoro's current and future products will change this paradigm and in so doing unleash an exciting new era of secure mobility. We could not be more excited to partner with Mike and his team."
Mr. Fong further commented, "Lou and Dan are visionary leaders and we are honored to welcome them to our Board. They each have exemplary careers in business and government service—Lou as an investor and senior national security professional, and Dan as an engineer, technologist, and senior aerospace leader—and have had a transformative impact on U.S. national security. We couldn't be more excited to have their strategic counsel and oversight as we advance wireless security globally."
John Chambers, Privoro investor and Board Observer and former Executive Chairman and CEO of Cisco, added: "Since its inception, Privoro has attracted an extremely strong and supportive investor base. With Tracker Capital leading the Series B, we maintain momentum as Privoro goes into its next chapter of growth and innovation. The progress that Privoro has recently made in anti-surveillance technologies has been extremely impressive and exciting. This capital will be used to turbocharge the company's development with the goal of positioning it as the U.S.-based leader of secure mobility."
About Privoro Privoro is a technology company that enables smartphone users to elevate their security posture by limiting the data available to hackers and spies. Working off the understanding that commercial smartphones can be compromised, Privoro designs and builds first-of-their-kind capabilities that work alongside the phone to provide independent, hardware-backed security.
For more information visit, privoro.com
About Tracker Capital Tracker Capital Management (together with certain affiliated investment vehicles, "Tracker Capital") is a New York-based venture capital firm that invests in high-potential companies with advanced capabilities. Tracker Capital was founded by Stephen Feinberg, Co-Founder and Co-Chief Executive Officer of Cerberus Capital Management, L.P., as a separate and independent investment vehicle focused on early-stage investments in areas such as 5G technology, artificial intelligence, machine learning, autonomy, aerospace, semiconductors, energy and advanced materials. In addition to investing resources to fund development, Tracker Capital provides guidance and operational support to entrepreneurs to help transform their ideas, concepts, and technologies into proven, sustainable businesses. SOURCE Privoro