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Insight Partners Leads $196M Series B For Apple-only Platform

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Mosyle, an enhanced mobile device manager (MDM), raised a $196 million Series B led by New York-based Insight Partners. The funding announcement coincides with the company’s launch of a new “Applied Unified Platform” aimed at integrating five applications into a single Apple-only solution.

Winter Park, Florida-based Mosyle, founded in 2013, is essentially an MDM, although Mosyle CEO and founder Alcyr Araujo says the company offers more than that.

“Companies require more than traditional MDM in today’s hybrid work environment,” Araujo said via email. “So, over the past year, we’ve aggressively rolled out innovative security and management features that used MDM as a medium to extend protection to other layers of the device.”

This allows multiple applications on Apple devices to work for education and enterprise customers, he said. Although not specifically a cybersecurity company, a large part of what it does is beef up security on Apple devices and networks.

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In general, funding for cybersecurity startups remains high despite an overall slowing in venture investment in 2022. Venture investment in cyber startups hit almost $6 billion in Q1 2022, according to Crunchbase data. That marks a nearly 50 percent increase from the same period last year. This also puts investment in the sector on track to break the all-time high for one year set in 2021 with more than $20 billion poured into the space, according to Crunchbase data.

For its part, Moslye has raised $52 million to date (excluding this recent investment), according to Crunchbase data.

The funding will be used to fuel the Apple Unified Platform and support Mosyle’s growth among business and educational institutions of all sizes, according to the company

The company’s focus on product innovation, ease of use and customer support has “solidified its position as a preferred platform for enterprises and educational institutions large and small in the growing Apple device management space,” said Insight Partners’ Rebecca Liu-Doyle in a statement.

New York-based StepStone Group and all previous investors including Boston-based Elephant and Lehi, Utah-based Album VC also participated in the round, according to the company.

Illustration: Dom Guzman

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