Venn’s remote work security tech fetches $29m Series A


Venn Software, an innovator in Secure BYO-PC technology, has earned a noteworthy patent and secured $29m in Series A funding.

The company, recognised for pioneering the first purpose-built technology for Secure BYO-PC, has been granted an integral patent for making remote work on any computer secure.

This funding round, led by NewSpring Capital, has been revealed to bolster the product development, facilitate growth, and meet customer demand. Venn is the first firm to offer a Mobile Device Management (MDM)-like solution for laptops, traditionally used by companies to safeguard their sensitive data on employees’ personal phones. Now, Venn can secure remote work on a laptop that’s unmanaged or BYOD.

Venn’s product fundamentally simplifies and reduces the cost of securing remote work on personal computers, a task often handled by virtual desktop infrastructure (VDI). Venn’s technology is crafted for the evolving “remote-first” world, offering secure solutions to challenges faced by companies who have a distributed workforce. The solution targets the growing need to safely manage remote work and merges seamlessly with employees’ desire for using a single device for both personal and professional use.

The funds will be deployed to further develop Venn’s Secure BYO-PC technology. With an increasing trend towards remote work and the subsequent challenges it poses to security and compliance, Venn’s technology presents a unique approach to these issues. It is specifically designed to ensure a secure and compliant remote work environment while offering a positive user experience.

Venn co-founder and CEO, David Matalon, highlighted, “It’s a radically simplified and less costly new alternative to virtual desktop infrastructure (VDI).” The company’s technology offers organisations more control without the need for any backend infrastructure, delivering a simple, easy-to-use platform.

Before this round, Venn received investment from NewSpring in 2019 based on Matalon’s vision of creating an innovative approach to securing remote work. The company was then able to develop the first purpose-built technology for Secure BYO-PC. Now, with a validated platform and customer demand surging, Venn has become even more attractive to investors.

Keep up with all the latest FinTech news here

Copyright © 2023 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.