US-based Privoro, a next-generation technology company focused on enhancing mobile device security, mobile device surveillance, and data management to protect against cyberattacks, raised USD 30 million on 22nd December 2021.
Investors: The investment round was led by an affiliate of Tracker Capital Management, LLC (“Tracker Capital”). In connection with the transaction, Louis Bremer, Senior Managing Director at Tracker Capital, joined Privoro’s Board of Directors.
Purpose of funding: The startup plans to expand its product line, team, and operations to meet the increasing demand for mobile device security solutions. A large portion of funds will be used to reach out to potential business partners throughout the US. Meanwhile, the startup is working on product development to achieve top positions in the field.
About the Privoro
Founded in 2016 by Mike Fong, Privoro is located in Chandler, US. Privoro is a technology startup providing mobile security solutions that help smartphone users limit the number of data hackers can access. Due to the vulnerability of commercial smartphones, Privoro has created its own first-of-its-kind hardware-backed security technology that works alongside the phone. Prevoro’s SafeCase, a smartphone-integrated security device, prevents sensitive information from being stolen by discretely hijacking cameras and microphones. Officials have already approved Safecase for use in classified facilities after numerous tests.
What the founder has to say
“We’ve been working in close collaboration with our government partners for years to fine-tune our offerings, particularly with an eye toward enabling smartphones within secure spaces where classified information is shared,” said Mike Fong, Founder and CEO at Privoro.
“This latest funding round is a testament to the fact that our company is uniquely positioned to solve critical customer problems related to delivering secure mobility.”
“Lou and Dan are visionary leaders, and we are honoured to welcome them to our Board. They each have exemplary careers in business and government service—Lou as an investor and senior national security professional, and Dan as an engineer, technologist, and senior aerospace leader—and have had a transformative impact on US national security. We couldn’t be more excited to have their strategic counsel and oversight as we advance wireless security globally.”
What the investors have to say
“Within the national security community, the use of commercial smartphones has long been viewed more as an operational vulnerability than a tool for driving mission success,” said Louis Bremer, Senior Managing Director at Tracker Capital.
“We believe that Privoro’s current and future products will change this paradigm and in so doing unleash an exciting new era of secure mobility. We could not be more excited to partner with Mike and his team.”
“Since its inception, Privoro has attracted an extremely strong and supportive investor base. With Tracker Capital leading Series B, we maintain momentum as Privoro goes into its next chapter of growth and innovation. The progress that Privoro has recently made in anti-surveillance technologies has been extremely impressive and exciting. This capital will be used to turbocharge the company’s development with the goal of positioning it as the U.S.-based leader of secure mobility,” said John Chambers, Privoro existing investor and Board Observer, and former Executive Chairman and CEO at Cisco.
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