Seratary Steve Mnuchin Official Picture
Zimperium, an Israeli firm that offers a mobile security platform purpose-built for enterprise environments, will be acquired for approximately $525 million by Liberty Strategic Capital, the private equity firm founded and led by former U.S. Secretary of the Treasury Steve Mnuchin.
With this investment, Liberty Strategic Capital will acquire a controlling interest in Zimperium and Secretary Mnuchin will chair the company’s Board of Directors.
Steven Mnuchin, who was treasury secretary in the Trump administration, established Liberty Strategic Capital soon after he left office in 2021 together with former US Ambassador to Israel David Friedman. The firm is based in Washington and has an office in Tel Aviv.
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Founded in 2010, Zimperium provides a leading mobile security platform purpose-built for enterprise environments. Zimperium boasts that its solution provides on-device mobile threat defense to protect “growing and evolving mobile environments,” by using machine learning-based protection and a single platform that secures “everything from applications to endpoints,”
As Secretary of the Treasury and a member of the National Security Council, Secretary Mnuchin helped shape the U.S. government’s approach to cyber threats, including supervising the design of new economic sanctions targeting Iranian, Russian and North Korean cyber attackers and transnational cyber criminals, and using sanctions authorities to combat ransomware attacks.
“Mobile devices and applications are an integral part of daily life for people around the world. They contain or serve as a gateway to the most sensitive personal and organizational data, making them an extremely valuable target for attackers,” said Secretary Mnuchin. “It’s clear that mobile is the new front line for cybersecurity. We all need to increase our focus on the protection of mobile devices and applications. Liberty Strategic Capital is investing in Zimperium because they’ve shown that they can lead the way in this multibillion-dollar market. Employees are using their own devices, driving enterprises to increasingly recognize the need for top-of-the-line cybersecurity designed for the mobile environment. As the use of mobile devices and the cyber threats against them proliferate, we believe Zimperium has positioned itself as the leader in securing mobile endpoints and applications. We’re excited to work with Zimperium as they lead in this critical and fast-growing market to strengthen mobile security worldwide.”
“There’s no question that the world is going mobile. And as that happens, modern operating systems like Android and iOS are playing a more prominent role powering the devices people use in their personal and professional lives. But what many people don’t realize is that protecting these devices is much different from protecting traditional endpoints and requires a new approach,” said Shridhar Mittal, CEO of Zimperium. “We’ve helped leading public and private organizations across the globe strengthen mobile security, and as we enter a high growth phase to help even more organizations, Secretary Mnuchin and the team at Liberty Strategic Capital will be a tremendous asset to guide and propel our company forward. I would also like to personally thank the incredible investors that have supported our company and vision of making mobile secure, including Warburg Pincus, Sierra Ventures, SoftBank, Telstra Ventures and Samsung.”
Zimperium’s patented and award-winning z9 machine learning-based engine protects mobile devices from device, network, phishing and application attacks. Zimperium delivered record growth and momentum in 2021.
