Battery Ventures invested $29m in Guardsquare.

uardsquare, a fast-growing and marketleading security company focused on protecting complex mobile applications run by rapidly transforming enterprises across industries, received a $29m investment from Battery Ventures. It is the global company’s first round of institutional financing. As part of the transaction, Battery Ventures acquired majority stake in Guardsquare and Battery General Partner Dharmesh Thakker and Battery Principal Paul Morrissey will join Guardsquare’s board. The company—whose technology is already embedded in more than quarter of Android apps on the market today—will leverage the partnership with Battery to more aggressively invest in sales, marketing, R&D and customer-success efforts. “We are extremely happy to welcome Battery as a shareholder,” Jürgen Ingels, a Guardsquare board member and early investor in the company stated. “This enables us to put a turbo on further growth. It is also a great endorsement of the Belgian tech scene.”