Mosyle rides its device management software to the bank, raising $196M – TechCrunch

Mosyle, a mobile device management platform for Apple devices, announced today that it raised $ 196 million in a Series B funding round led by Insight Partners with the participation of StepStone Group and previous investors, including Elephant and Album VC. CEO Alcyr Araujo says the round that comes as Moysle introduces a new product, the Apple Unified Platform for Business, will be set to support the company’s growth and “fuel”.[ing] innovation. “

Mobile device management, or MDM, enables IT administrators to monitor and manage devices such as smartphones, tablets, and laptops that access business data. MDM is an increasingly useful technology, as more and more companies expect employees to use personal devices to access the company’s apps, which is no doubt why Apple has released MDM features aimed at corporate customers over the years. Araujo, however, claims that MDM with Apple devices remains filled from a security and privacy perspective.

It is apparently an argument that has won over investors. While Moysle declined to disclose its valuation, Series B is nearly six times the company’s previous funding round ($ 32.8 million).

Markets and Markets predicts that the global mobile device management market will be worth $ 20.4 billion in 2026, up from $ 5.5 billion in 2021. This is consistent with the results of a recent study by CyberEdge Group, which shows , that bring-your-own-device (BYOD)) policies on companies increased from 42% in early 2020 to 66% in October 2020, mainly due to pandemic policies for work from home.

“Apple’s adoption in the company is growing (and will continue to grow) exponentially, but this comes at a time when initiatives, anywhere work from anywhere, are pushing leadership and protection away from the network to the end point,” he told TechCrunch via e-mail. “The challenge for [chief information security officers] and IT teams are clear. How can we get the most out of Apple devices and unlock productivity gains from those devices (and apps) without introducing vulnerabilities or cumbersome workflows to employees? “

MoSyle

Image credit: Mosyle

Mosyle’s platform offers device management, endpoint security, internet protection and identity and application management features for macOS, iOS and tvOS devices (eg Apple TV). Using Mosyle, companies can send a Mac to, for example, an employee and configure it to boot with certain apps installed and security configurations enforced.

Mosyle’s new Apple Unified Platform goes a little further, providing antivirus and antimalware, remote removal and locking tools, and shared device support and privileged account management. The Apple Unified Platform also includes encrypted DNS functionality for web filtering at Apple endpoints and a combination of single sign-on functionality with two-factor authentication for identity management. In addition, Apple Unified Platform allows organizations to remotely deploy, update, and manage compatible apps on Apple devices, regardless of whether the app is available in the App Store.

Last year, Apple introduced its own holistic MDM solution for small and medium-sized businesses, Apple Business Essentials, which folded device management, customer support and iCloud storage into a single subscription plan. But when asked which vendors he sees as rivals, Araujo named Jamf – not Apple – as Mosyle’s “main competitor.”

Advantageous focal point

When Araujo started Mosyle in 2012 in his native Brazil, the company’s only product was an iPad-based learning management system for schools. A turning point came in 2015, when Mosyle raised $ 1 million to enter the U.S. market with an Apple-only MDM platform for elementary schools. 2018 marked the company’s next big turning point: the introduction of Mosyle Business, its first MDM product for companies. A follow-up with endpoint security, patch administration and identity management upgrades called Moysle Fuse arrived in 2021.

MDM software has gotten a bad rap in recent years, especially as the pandemic has forced students and workers to switch to remote and hybrid setups. A recent piece in Education Week questions whether they are a violation of privacy, while 67% of employees surveyed in a 2015 Bitglass survey said they would participate in a BYOD program if employers could not view or modify their personal data and apps.

With $ 215 million in cash and 32,000 customers, Mosyle, with more than 100 employees – who claim to have experienced “triple-digit” revenue growth since 2020 – is preparing for further expansion.

“Throughout this journey, our focus has always been on enhancing organizations’ experience with Apple devices, making Apple the undisputed mainstay of education and business use, and doing it all with high-quality solutions at a fraction of the price of our competitors,” Araujo said. “[The] funding is the validation of this vision and our belief in it companies demand more than traditional MDM in today’s hybrid work environment. ”

William

Leave a Reply

Your email address will not be published.