Mosyle lends its device management software to bank, raising $196M

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moiselmobile device management platform for Apple devices today announced it has raised $196 million in Series B funding round led by InPartner site featuring the StepStone Group and previous investors including Elephant and Album VC. CEO Alcir Araujo says the round, which will take place when Moisle introduces the new Apple Unified Platform for Business product, will be aimed at supporting the company’s growth and “feeding”.[ing] innovation”.

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Mobile device management, or MDM, allows IT administrators to monitor and manage devices such as smartphones, tablets, and laptops that have access to business data. MDM is becoming an increasingly useful technology as more and more businesses rely on employees to use personal devices to access corporate applications, which is no doubt why Apple has released MDM for years. Peculiarities focused on corporate clients. However, Araujo argues that MDM with Apple devices remains insecure in terms of security and privacy.

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This argument appears to have won over investors. While Moisle declined to reveal his valuation, Series B is almost six times the size of the company. previous funding round ($32.8 million).

Markets and Markets predicts that the global mobile device management market will be worth $20.4 billion by 2026, up from $5.5 billion in 2021. This is consistent with the findings of a recent study by the CyberEdge Group. pollwhich shows that bring-your-own-device (BYOD) policies in enterprises have skyrocketed from 42% in early 2020 to 66% in October 2020, largely as a result of the work-from-home policy pandemic.

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“Apple enterprise adoption is growing (and will continue to grow) exponentially, but the time is coming when work-from-anywhere initiatives are pushing network management and security to the endpoint,” he told TechCrunch via email. “A challenge for [chief information security officers] and IT teams understand. How can we get the most out of Apple devices and improve the performance of those devices (and apps) without creating vulnerabilities or unwieldy workflows for employees?”

MoSail

Image credits: MoSail

The Mosyle platform offers device management, endpoint security, online privacy, and identity and app management features for macOS, iOS, and tvOS devices (such as Apple TV). Using Mosyle, companies can, for example, send a Mac to an employee and set it up to boot with certain applications installed and enforced security configurations.

Mosyle’s new Apple Unified Platform goes a little further, providing antivirus and malware protection, remote wipe and lock tools, as well as support for shared devices and privileged account management. The Apple Unified Platform also includes DNS encryption for web filtering on Apple endpoints and a combination of single sign-on with two-factor authentication for identity management. In addition, the Apple Unified Platform allows organizations to remotely deploy, update, and manage compatible apps on Apple devices, whether or not the app is available in the App Store.

Last year, Apple introduced its own holistic MDM solution for SMBs, Apple Business Essentials, which combined device management, customer support, and iCloud storage into a single subscription plan. But when asked which suppliers he considers competitors, Araujo called Jamf, not Apple, Mosile’s “main competitor”.

Beneficial turn

When Araujo founded Mosyle in 2012 in his native Brazil, the company’s only product was an iPad-based learning management system for schools. The twist came in 2015 when Mosyle raised $1 million to enter the US market with an Apple-only MDM platform for K-12 schools. 2018 marked the next major turning point for the company: the introduction of Mosyle Business, its first enterprise MDM product. A sequel appeared in 2021 with endpoint security updates, patch management and identity management called Moysle Fuse.

MDM software has gotten a bad rap in recent years, especially as the pandemic has forced students and staff to move to remote and hybrid installations. Recent a piece in Education Week wonder if they are an invasion of privacy, while 67% of employees surveyed in Bitglass 2015 poll said they would participate in the BYOD program if employers were unable to view or change their personal data and applications.

However, with $215 million in cash and 32,000 customers, Mosyle, with more than 100 employees, which claims to have posted “triple-digit” revenue growth since 2020, is gearing up for further expansion.

“Throughout this journey, we have always strived to improve the organization’s experience with Apple devices, make Apple the undisputed leading device for education and enterprise use, and do it all with high-quality solutions at a fraction of the cost of our competitors. Araujo said. “[The] funding is a confirmation of this vision and our belief that companies need more than traditional MDM in today’s hybrid work environment.”


Credit: techcrunch.com /

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