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Promon completes new round of investment, proceeds used to expand technological leadership in app hardening

Promon is delighted to announce the completion of a new round of investment, which provides additional growth capital to the company. As part of this round of investment, the authentication vendor VASCO Data Security International Inc has joined Promon as an investor.

Promon offers a suite of app security solutions that many consider the industry’s most advanced, sophisticated and proven app hardening technology. The proceeds from the new investment round will be used primarily to expand product development, build out the sales organisation, and strengthen the after-sales organisation of Promon. With the new capital, Promon will also be able to further strengthen its partnership program, whereby OEM partners can make use of the Promon technology in their solutions, and reseller partners can resell the Promon technology on a stand-alone basis.

“Our objectives is to be the world leader in the app hardening space. We want to make apps safer irrespective of verticals and irrespective of geography,” commented Gustaf Sahlman, CEO of Promon. “In today’s mobile world where customer and data integrity is of increasing importance, we believe we can make a significant difference. To address the markets around the world we need to work together with partners. With the additional proceeds, we will be better equipped to do so.”

He added: “We see VASCO’s investment as a huge recognition of our leading technology, and an acknowledgement of the absolute importance of Promon’s products in a world of mobility, where the focus of security is shifting towards being app-centric, rather than device-centric.”

The terms of the round are not disclosed.

About Promon

Promon’s proprietary technology Promon SHIELD™ represents a new generation of app hardening technologies, which secures apps from both known and unknown attack vectors. Promon protects applications and apps used by millions of users in areas where data integrity is of critical importance. Promon is headquartered in Oslo, Norway, with sales offices in Germany and the UK. Promon has an OEM program, which allows partners to provide Promon as part of their own solutions. Additional information about Promon may be found at promon.co