Oslo, Norway headquartered Promon has completed a new round of investment which it will use to expand its efforts in app hardening.
As part of this round of investment, the authentication vendor VASCO Data Security International Inc has joined Promon as an investor. Promon offers a suite of app security solutions and the new investment round will be used primarily to expand product development, build out the sales organisation, and strengthen the after-sales organisation of Promon. With the new capital, Promon will also be able to further strengthen its partnership programme, whereby OEM partners can make use of the Promon technology in their solutions, and reseller partners can resell the technology on a stand-alone basis.
“Our objective is to be the world leader in app hardening technology. We want to make apps safer irrespective of verticals and irrespective of geography,” commented Gustaf Sahlman, CEO of Promon. “In today’s mobile world, where customer and data integrity is of increasing importance, we believe we can make a significant difference. To address the markets around the world we need to work together with partners. With the additional proceeds, we will be better equipped to do so.”
“We see VASCO’s investment as a huge recognition of our leading technology, and an acknowledgement of the absolute importance of Promon’s products in a world of mobility, where the focus of security is shifting towards being app-centric, rather than device-centric."
The terms of the round are not disclosed.