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Corellium Secures $25M Series A Round, Led by Paladin Capital Group with Participation from Cisco Investments

·4-min read

Corellium brings Arm-device virtualization to mobile and IoT development and testing

BOYNTON BEACH, Fla., December 16, 2021--(BUSINESS WIRE)--Today, Corellium is announcing the completion of a $25M Series A investment round, led by Paladin Capital Group, with participation from Cisco Investments and other strategic investors. With this investment, Corellium will accelerate R&D to support skyrocketing customer demand and expand its go-to-market and partner ecosystem initiatives.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211216005045/en/

Corellium's virtual devices run on top of a custom Corellium Type-1 Hypervisor for Arm (CHARM), purpose-built to model complex peripherals and chipsets. From rapid hardware prototyping to advanced security testing, our groundbreaking platform accelerates development work on Arm technologies. (Photo: Business Wire)

Over the last two decades, virtualization has transformed server and desktop computing. Corellium is bringing that same revolution to the next generation of Arm-based mobile and IoT devices. This means step-function improvement in the research, development, and security testing of Linux, Android, and iOS apps and devices.

With more than 400 customers including numerous Fortune 500 companies, Corellium has proven the need for better DevSecOps processes for mobile and IoT computing technologies. "In only a few years, Corellium has established itself as a leader for research, development, and security testing of Arm-powered devices and apps - from mobile to IoT. It’s a testament not only to the strength of our technology, but the eagerness of the market to change the way this important work is done," Amanda Gorton, CEO of Corellium.

Unlike Intel-powered computers and servers, the vast majority of new mobile and IoT devices are powered by Arm processors. Corellium’s Arm-native cloud platform enables developer and security teams to run highly accurate, scalable, and performant full-stack virtual models of mobile apps, OS firmware, and device hardware. Because the models run natively on Arm, developers can run production code without making changes, and they run with native-like speed. Combined with Corellium’s powerful developer tool sets, the advanced virtual environment vastly improves and accelerates end-to-end development, testing, and security acceptance lifecycles.

"In a world of increasing security threats, malware attacks, and dynamic security regulations, effective full-stack system testing - apps, firmware, and hardware - is more critical and complex than ever," said Mourad Yesayan, managing director at Paladin Capital Group and Corellium Board member. "As the world’s 13 million Arm developers shift to DevSecOps, Corellium provides the tools they need in a scalable, repeatable, high-performance, high-accuracy, and cost-effective solution. We are excited to be partnering with Corellium in its next phase of growth as the company continues to expand its technical offerings."

"We know our customers need to be supported across hybrid processor environments," said Janey Hoe, vice president, Cisco Investments. "That’s why we are excited to invest in Corellium because it gives customers a new virtualized development paradigm, enabling effective penetration assessment, application testing, and security and threat intelligence research at scale."

To further strengthen its enterprise and developer go-to-market strategies, Corellium is also announcing the appointment of Mark Templeton, former CEO of Citrix, to its Board of Directors, and the hiring of Anthony Ricco, former CMO of DigitalOcean, to its executive leadership team as Chief Marketing Officer.

To learn more, or to start a free trial as seeing is believing, visit Corellium.com.

About Corellium

Corellium helps developer and security teams build, test, and secure mobile and IoT apps, firmware, and hardware through the power of virtualization. Its Arm-native cloud platform is used by businesses, agencies and security communities around the world to streamline DevSecOps processes and accelerate time to market. With highly performant, scalable, and accurate device models, Corellium dramatically accelerates R&D and enables never-before-possible security research and testing. Visit Corellium.com for a free trial or follow us on Twitter at @CorelliumHQ.

About Paladin Capital Group

Paladin Capital Group was founded in 2001 and has offices in Washington DC, New York, London, Luxembourg, and Silicon Valley. As a multi-stage investor, Paladin focuses on companies with technologies, products, and services that meet the challenging global cyber security and digital infrastructure resilience needs for commercial and government customers. Follow the firm on Twitter @Paladincap and visit www.paladincapgroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211216005045/en/

Contacts

Melanie Ensign, Discernible Inc (for Corellium)
melanie@discerniblecommunications.com