NEW YORK-Vaultus, a mobile platform company, announced it closed $32 million in second-round financing, bringing the total invested in the company to more than $57 million.
The top investor in this round was First Union Capital Partners. Other investors included Research in Motion Ltd., Ventures, Investcorp, china Industrial Development Band and @Ventures.
“Vaultus is a sound investment to us because they are first movers in developing and delivering a Java-based secure mobile platform that enables mobile data applications,” said David Scanlan, principal of First Union Capital Partners. “With an experienced management team, Vaultus is set apart from its competitors, and they are poised to be a leader in the mobile data industry, a market expected to generate over $50 billion in revenues by 2007.”
With the most recent investment, Vaultus plans to further product development and expand sales channels.
