C5 Capital, a specialist venture capital firm focused on cyber security, data analytics and cloud computing, has anchored a USD17 million Series B financing round in Blue Cedar.
Daniel Freeman, Managing Partner at C5 Capital, will join Blue Cedar’s Board of Directors, bringing with him significant experience working with fast-growing cyber security software and services companies. Existing Blue Cedar investors, Benhamou Global Ventures (BGV), Generation Ventures, Grayhawk Capital and Sway Ventures, also participated.
Mobile security is increasingly a major concern for organisations, as data breaches can potentially cost them millions. While many of the world’s leading enterprises demonstrate increasing mobile maturity, many have yet to realise the full benefits of mobile adoption due to the difficulty of addressing security concerns. Blue Cedar’s no-code, easy-to-use security integration platform allows organisations to quickly integrate the best in class security solutions into mobile, IoT and other edge apps, while saving substantial development hours, IT budget and resources. This leaves the company ideally placed to capitalise and gain share in the mobile application security market that is forecasted to be worth USD2.53 billion by 2020.
Blue Cedar will leverage its latest round to accelerate growth, further enhance its cloud-native platform and advance the company’s goal of automating the critical function of adding rich security controls into corporate mobile apps.
C5 is a prolific investor in the cyber security market. Last November, it led an USD18m investment round in 4iQ, the US and European identity-focused cyber intelligence company, and earlier in the year it led a USD78 million Series B investment round in IronNet Cybersecurity, a leading provider of network analytics and cybersecurity collective defence. In 2018 C5 Capital had two exits, selling its investments in both the Danish identity and access management provider Omada and the Hungarian privileged access management company Balabit.
Daniel Freeman, Managing Partner at C5 Capital and Blue Cedar Board Member, says: “C5 Capital invests in companies that enable enterprises to generate more value from their data – securely and at scale. Technology that enables “silent” integration of cyber security is at the top of every Chief information Security Officer’s wish list, because it makes consistent application of enterprise-grade solutions easy and seamless. In a short time, Blue Cedar has forged impressive go-to-market partnerships to address the needs of large corporations. The company and its dynamic management are perfectly placed to address a major need in the cyber security marketplace.”
John Aisien, CEO of Blue Cedar, says: “Blue Cedar is working to help enterprises uncover the real business benefits of mobile. Our focus on in-app security is enabling companies to extract maximum business value, more quickly and at lower cost, from their mobile apps. This financing milestone will allow us to concentrate on continued technology innovation, deepening our partnerships and expanding our market reach.”
