WatchDox nabs $12m from Millennium and others to help sell secure document-sharing to enterprises

Back in December we reported that Israeli startup WatchDox had acquired virtualization technology and mobile app firm InstallFree.

Well, now the Dropbox-for-enterprise has nabbed a rather chunky $12m in funding, to help take its “leak-free”, document-sharing and collaboration platform to the masses.

Just to recap, WatchDox helps organizations access, protect and control critical documents on any tablet, smartphone, or PC – even those beyond the IT department’s control. One of the key selling points of WatchDox is for firms that adopt a bring-your-own-device (BYOD) policy, letting them destroy documents remotely if a device goes missing

The latest funding round sees Millennium Technology Value Partners join existing WatchDox investors such as Blackstone, Gemini Israel Funds, Shasta Ventures and security expert Shlomo Kramer. This brings the company’s total funding to $35 million to date.

The financing also let WatchDox close the InstallFree acquisition, with its technology allowing WatchDox to enhance its own file-sharing and collaboration platform.

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WatchDox will also use the funds to expand its sales team as it tries to lure new customers in financial services, pharmaceutical, biotechnology, legal, energy, manufacturing, insurance and government markets.

“Millennium’s investment in WatchDox reflects its continuing interest in high-growth companies that are leaders in their respective industries,” says Moti Rafalin, CEO of WatchDox.

“Joining WatchDox in Millennium’s portfolio of successful companies reinforces the feedback we hear from enterprises, which are realizing that the right strategy is to provide their users the file sync and sharing capabilities they want, while ensuring that IT gets the persistent control, tracking and revocation capabilities needed to stay protected and compliant.”

Feature Image Credit – Thinkstock