Duluth-based Movius, a cloud-based secure mobile communications software, has closed a $45 million Series D funding round led by new investor JPMorgan Chase & Co.
Existing investors PointGuard Ventures, New Enterprise Associates and Anschutz Investment Company also participated in the round.
Movius representatives said the new funding nearly doubles what the company has raised to date: $91 million. The company will use the funding to support a variety of initiatives in global expansion, specifically in Europe and Asia. Movius hopes to accelerate its product roadmap and sales to meet the mobility needs of businesses.
In addition to the funding, the company has added a new CEO, Silicon Valley veteran John Loiacono. Prior to his position at Movius, Loiacono was the founder and CEO of network analytics startup Jolata. He has held leadership roles at Sun Microsystems and Adobe Systems.
“We’re excited to partner with JPMorgan Chase – a global visionary in financial services and a leader in embracing secure, seamless solutions for our mobile age,” Loiacono said in a statement. “This investment is particularly important as a testament to the power of our solution to simplify the complex needs of the financial services sector and other key markets around the globe. There is simply nothing like what we’ve built.”
Movius has also added two new board members: Chief Strategy Officer at Hyperloop Transportation Technologies Sanjay Jain and the head of technology innovation, strategy and partnerships at JP Morgan Chase & Co. Larry Feinsmith.
Movius currently has locations in Duluth, Silicon Valley and Bangalore, India. The company employs more than 130 people.
