Mobile System 7 moves to Maryland
Mobile System 7, a data system security provider, has moved its headquarters from Virginia to Bethesda, Maryland, and earned $400,000 in State and county investments, the Maryland Department of Business and Economic Development (DBED) announced Tuesday.
The company’s move opened the door for a $300,000 investment by the State’s InvestMaryland program, administered by the Maryland Venture Fund (MVF). Created in 2011, the InvestMaryland program is the largest venture capital investment initiative in Maryland’s history, the result of an $84 million online auction of tax credits to Maryland insurance companies.
The Montgomery County Department of Economic Development also joined the financing round, investing $100,000. Private investors contributed, as well.
“We are excited to have a great partner like MVF that recognizes the value of data security to the enterprise. The proliferation of mobile devices and SaaS make enterprise data accessible, globally and around the clock. We ensure that only legitimate users have access to this data,” Mark McGovern, CEO of Mobile System 7, said in a statement. “With this investment, we will expand our team to support our growing customer base.”
McGovern has a wealth of experience in securing mission critical data systems for enterprises, ranging from the Central Intelligence Agency to MasterCard International. He is now focused on developing Mobile System 7’s flagship product, Interlock, which protects enterprise data from unauthorized access and malicious attacks. The product provides data analytics and real time access controls, tracking individual users and devices.
DBED Secretary Dominick Murray said Mobile System 7 is a welcome addition to the State’s growing cybersecurity community.
“We are proud to make this investment in Mobile System 7 and are excited to see them grow in Maryland, the epicenter of cybersecurity,” Secretary Murray said. “Through programs like the Maryland Venture Fund and InvestMaryland, we are providing critical support to young companies developing the technologies and products that keep us all safer, healthier and better connected than ever before. These startup, early stage and growth-stage firms are creating the family sustaining jobs of today and tomorrow.