BOSTON--(BUSINESS WIRE)--Optio Labs, a developer of transformational security and productivity technologies for mobile and embedded systems, announced the closing of a $10 million Series A funding round. Participants in the round include Optio Labs’ parent company, Allied Minds Inc., as well as several private investors.
Optio Labs develops mobile security software solutions for federal agencies, commercial enterprises, and device manufacturers. The company’s flagship product, OptioCore, has been recognized as the only security solution able to meet stringent U.S. Federal government mobile security policies while maximizing the full range of productivity benefits of Android devices. The company plans to use the funds to expand engineering capacity and accelerate the development of additional solutions for commercial and embedded systems markets.
“We are excited that investors recognize the strong market potential for our products, as well as the talent behind those technologies, and support our efforts to take this company to scale,” said Matt Hartley, General Manager of Optio Labs.
According to London-based research firm Visiongain, the global mobile security market is poised to experience substantial growth over the next several years, driven by the increasing proliferation of smart mobile devices. Visiongain estimated the market value of these solutions reached about $3.5 billion in 2013, a year when for the first time shipments of mobile devices surpassed desktops and laptop PCs. (McKinsey Global Institute)
“Global mobile security is a multi-billion dollar market, and the Android OS is the fastest-growing operating system worldwide,” said John Serafini, vice president at Allied Minds. “Optio Labs addresses key gaps in Android security, and this investment will allow the company to expand and create additional solutions across multiple platforms.”
More information about Optio Labs and its products can be found at www.optiolabs.com.
About Optio Labs
Optio Labs creates, optimizes and productizes transformational security and productivity technologies for the mobile enterprise and embedded systems. Founded in 2012, Optio Labs was formed around technologies originating from Virginia Tech scientists, Dr. Charles Clancy, Dr. Jules White and Dr. Brian Dougherty. With offices in Nashville, TN and Washington DC, Optio Labs customers include federal agencies, commercial enterprises, and device manufacturers. More information can be found at www.optiolabs.com.
About Allied Minds
Allied Minds is a dedicated technology company that deploys capital to form, fund, manage and build companies based on market-creating technologies developed at renowned U.S. universities and federal research institutions. Allied Minds serves as a diversified holding company that supports its businesses with capital, management and shared services. For more information, visit www.alliedminds.com.