Battery Ventures invests $29m in Guardsquare

The firm recently closed its Battery Ventures XII fund on $800m alongside its companion fund Battery Ventures XII Side Fund, which was closed on $450m in February 2018. The funds make deals from seed- and early-stage rounds to majority buyouts in technology companies.

The fresh capital will be invested in sales, marketing and R&D.

Previous funding
In 2015, Guardsquare received a €500,000 investment from an undisclosed investor. Jürgen Ingels – the founder of Clear2Pay, which was sold to FIS for €400m – is a Guardsquare board member and has been named as an early investor.

Company
Founded in 2014 by Olympic judo bronze medallist Heidi Rakels and Eric Lafortune, Guardsquare is based in Leuven, Belgium, and San Francisco, US. Guardsquare develops security software for the protection of mobile applications against reverse engineering and hacking. It has been built into 25% of android devices and is used in the financial services, e-commerce, public sector, telecommunications and media industries.

People
Battery Ventures – Dharmesh Thakker (general partner).
Guardsquare – Roel Caers (CEO); Heidi Rakels (co-founder and president); Jürgen Ingels (board member).

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• Battery Ventures
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