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DeviceVM Announces Strategic Investment of $10 Million Led by SAP Ventures

DeviceVM, the worldwide leader in instant-on computing, today announced a $10 million strategic investment led by SAP Ventures, a division of SAP AG. Current venture capital investors also participating in the round include Storm Ventures, DFJ Dragon, and New Enterprise Associates (NEA).

“The consumerization of IT is creating new challenges for corporations everywhere,” said Mark Lee, CEO and co-founder of DeviceVM. “Employees want to use their mobile device of choice on the road. This new round, led by SAP Ventures, will accelerate our plans to make this new breed of mobile Internet devices (from netbooks to smartphones) “enterprise-ready” by enabling IT to better support them within existing management and security policies.”

The additional funding will be used to fuel the growth of DeviceVM’s award-winning instant-on platform, Splashtop™, further into the enterprise mobile market. The Splashtop instant-on platform which is pre-installed by most of the major PC vendors on their devices for the mobile enterprise user, addresses the needs of the “road warriors” of an enterprise by integrating Citrix and VMware clients to allow secure, instant access to remote virtualized desktops and applications and thereby reducing the risk of data theft.

“We are excited to lead the investment in DeviceVM to support its growth and expansion to deliver enterprise-class, instant-on platforms for the mobile enterprise markets,” said Jai Das, partner at SAP Ventures. ”Secure remote access to corporate data from multiple devices is paramount to today’s increasingly mobile workforce.”

DeviceVM delivers customized versions of Splashtop for the general mobile worker to support instant connectivity to Outlook email, calendar, contact, and tasks, as well as viewing and editing Microsoft Office 2003, 2007 and 2010 documents. All versions offer instant productivity without the need to boot-up Windows. Vendors shipping these features include Acer, Dell and HP.

DeviceVM expects to be profitable by the end of calendar year 2010.

Published Wednesday, June 02, 2010 4:34 PM by David Marshall
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