Watch dogs were an early form of document security, guarding mailboxes to make sure no-one breaks in.
WatchDox offers a more modern form of document security, raising $12 million to keep enterprise documents protected as they are shared on the go.
As employees work from their mobile devices, they often need to access, share, and control information from outside their organizations’ protected network. WatchDox’s platform provides “document-centric security.” Features include the ability to track shared documents, restrict recipients from copying, editing, and forwarding, setting expiration dates, applying watermarks, and change document permissions at any time.
The Document Exchange solution tracks all protected documents that come through email and there are various extensions that integrate with enterprise systems and APIs. Organizations can also set up specific Workspaces for sensitive, structured interactions, such as deal rooms and clinical trials. More than 500 enterprises around the world use WatchDox, including major financial institutions, government agencies, and Fortune 500 corporations.
This round of financing will help WatchDox expand its footprint in the financial services, pharmaceutical, biotech, legal, energy, manufacturing, insurance, and government markets. It also supported the acquisition of InstallFree in December,a developer of technology that makes applications accessible across devices.
Millennium Technology Value Partners, which provides “alternate liquidity solutions” participated in this round, along with existing investors Blackstone, Gemini Israel Funds, Shasta Ventures, and cofounder of Check Point and Imperva Shlomo Kramer.
WatchDox has raised $35 million to date. It is based in Palo Alto. Read the press release.