Appthority Closes Additional $7 Million in Series B Funding Amidst Accelerated Growth and Adoption

Year-over-year growth, blue chip customer adoption and
international expansion help Appthority extend early share and position
in the $5.7B mobile security market

SAN FRANCISCO–(BUSINESS WIRE)–Appthority,
the global leader in enterprise mobile threat protection, today
announced the closing of an additional $7 million in Series B funding
led by Trident Capital Cybersecurity, with participation by U.S. Venture
Partners, Venrock, Blue Coat Systems and Knollwood Investment Advisory.
This financing brings the company’s total Series B funding to $17
million.

Appthority also announced accelerated business momentum in the rapidly
growing mobile security market. The company achieved year-over-year
growth of 106 percent for the first half of 2016, a 98% renewal rate,
and closed its strongest ever revenue and bookings quarter in Q2 2016.
Its rapidly expanding customer base included three wins from the Forbes
Global 500 list, and growing demand from vertical sectors. Nineteen
percent of first-half revenues were from the government sector, 20
percent from financial services and 24 percent from manufacturing. The
company also achieved significant traction from international markets
with 25 percent of first-half revenues coming from international
customers.

“Mobile security has not kept up with mobile adoption and app
consumption. CISOs and their teams must be able to proactively identify
and mitigate risk from mobile apps without impacting employee
productivity or hindering compliance,” said Paul Stich, CEO of
Appthority. “The market response to our mobile threat solution and
ability to protect employees and corporate data in near real time from
millions of potential mobile app threats speaks for itself. With
additional funding to grow key functions and markets, we are incredibly
well placed to capture the lion’s share of this important segment of the
security market.”

Appthority’s mobile threat prevention solutions extend the corporate
security perimeter to the endpoint of employee mobile apps which today
represent one of the biggest blind spots in enterprise cyber security
strategy. Appthority mobile threat solutions ensure company data is
protected, users are knowledgeable about mobile risk and compliance, and
risky apps are prevented from entering the enterprise ecosystem. The
company has built a clear technology and innovation advantage to
alternative solutions through unprecedented scale, automation and
customization of its mobile threat solutions.

“Mobile is fast becoming the weakest link with respect to corporate data
breaches,” said Sean
Cunningham, Managing Director of Trident Capital Cybersecurity, who
now joins the Appthority Board of Directors. “Appthority’s momentum and
product innovation in mobile security is an outstanding opportunity for
investment. The mobile security initiative within enterprises has become
a funded priority supported by the Board of Directors and CISOs due to
the proliferation of malicious mobile applications on employee devices
with access to the corporate network.“

About Appthority

Appthority, the global leader in enterprise mobile threat protection,
delivers proactive visibility into mobile risk with the most
comprehensive mobile application analysis available. Appthority’s
extensive and ongoing threat intelligence eliminates mobile risk blind
spots and combines the widest array of customizable policy and
remediation options to tailor threat protection to the unique needs of
individual enterprises. Customers benefit from Appthority’s mobile app
as they extend the enterprise’s security perimeter to employees,
ensuring everyone is knowledgeable about mobile risk and compliance,
while helping to prevent risky apps from ever entering the ecosystem.
With Appthority, security teams are informed, employees are productive
and enterprise data is kept private and secure. Appthority is trusted by
organizations needing the most effective threat protection at scale,
including several of the Global Forbes 100 as well as top government
agencies in the U.S. Europe and Asia. For more information, please visit www.appthority.com.

About Trident Capital Cybersecurity

Trident Capital Cybersecurity is a venture capital firm that invests in
early-stage companies leveraging emerging technologies in cybersecurity.
The firm is a spinout of Trident Capital, which in 1998 became one of
the pioneers of cybersecurity venture capital investing. Managing
Directors Alberto Yépez, Don Dixon and Sean Cunningham jointly lead the
cybersecurity investment team. Renowned as the venture capital firm with
the most valuable network of cybersecurity relationships, Trident
Capital Cybersecurity relies on input from a 40-plus–person
Cybersecurity Advisory Council, consisting of industry CEOs, customers
and former top-level government leaders. Appthority is the firm’s fourth
investment. Other investments include Bayshore Networks, IronNet
Cybersecurity and 4iQ. For more information, visit www.tridentcybersecurity.com.

Contacts

for Appthority
Jenna Finn, (415) 249-6777
appthority@finnpartners.com