LOUISVILLE, KY AND NEW YORK, NY – (June 14, 2007) – Chrysalis Ventures and Dolphin Equity Partners announced today that they have co-led a $6.0 million Series A investment in St. Louis-based Mobile Armor, LLC (“Mobile Armor”), a managed services provider of Enterprise Mobile Data Security (EMDSTM). Louisville-based Chrysalis Ventures is a leading source of equity capital for growth companies in the Midwest and South, and Dolphin Equity Partners of New York is a leading venture firm investing in media and marketing services, enterprise services, technology, and communications.
Mobile Armor provides mobile data and asset protection for PDA’s, cell phones, laptops, and other sensitive “data at rest.” Mobile Armor seamlessly integrates its suite of products across different operating systems including Microsoft Windows, Linux, Blackberry, Palm OS, and Microsoft Windows Mobile. Important government reference accounts include the United States Department of Defense and the United States Supreme Court.
Mobile Armor’s suite of patent-pending data security solutions enables government and enterprises to protect fully their mobile assets while ensuring consistency, integrity, and availability of critical data. Mobile Armor’s solution has been certified and validated to meet the security standards, including FIPS 140-2, set by the National Institute of Standards and Technology (NIST), an agency of the United States Government. Other customers include the Office of the Secretary of Defense of the United States Department of Defense, American Century Investments, UMB Bank, and TD Ameritrade. In addition, the Company has entered into a partnership with Sprint Nextel to co-market the company’s solutions to the enterprise marketplace and to offer 24/7 worldwide support.
According to Chand Vyas, CEO of Mobile Armor, “We are delighted to partner with Chrysalis Ventures and Dolphin Equity Partners for this important round of initial financing. In addition to capital, both firms bring valuable strategic insight and technology experience to the table as we aggressively assert our leadership in the rapidly expanding mobile data security market. We have been building this company for the past five years and this capital infusion will help us expand our marketing footprint to aggressively target the government and enterprise space.”
“We are attracted to Mobile Armor because it is a proven technology experiencing rapid adoption,” said Bob Saunders, managing director of Chrysalis Ventures. “Mobile Armor is the absolute technology leader in this niche space and we see a tremendous opportunity for growth in the government and enterprise sectors. This investment is a great fit for our portfolio of business services investments.”
“Mobile Armor provides state of the art security software which can be delivered in a “Software as a Service” (SaaS) model,” said Richard Brekka, President and Managing Partner of Dolphin Equity Partners. “Mobile Armor’s unique capabilities have been proven by the contract wins in the highly competitive government market. We believe Mobile Armor’s management has the expertise and leadership to make the Company a leader in its sector.”
Mr. Saunders of Chrysalis Ventures and Mr. Brekka of Dolphin Equity have joined Mobile Armor’s board of directors.
About Mobile Armor
Privately held, Mobile Armor is a leading provider of Enterprise Mobile Data Security. Mobile Armor develops and markets the next-generation software suite that enables dynamic organizations to fully protect their critical electronic assets. Mobile Armor’s solution has been certified to meet the standards and guidelines for security set by the National Institute of Standards and Technology, an agency of the United States Government. For more information, please visit www.mobilearmor.com.
About Chrysalis Ventures
Founded in 1993, Chrysalis Ventures is a leading source of equity capital for young growth companies in the Midwest and South. Chrysalis invests primarily in early-stage and expansion-stage companies in healthcare services and technology, media and communications, and business services. Based in Louisville, Kentucky, Chrysalis has more than $250 million under management and has made investments in over 50 companies. For more information, please visit www.chrysalisventures.com.
About Dolphin Equity Partners
Dolphin Equity Partners specializes in investments in emerging media, communications and related information technology companies operating in North America. Located in New York, Dolphin currently manages over $340 million in capital. For more information, please visit www.dolphinequity.com.