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MobileLogic secures financing

NEW YORK-MobileLogic, New York, established last year to help companies and their mobile workers communicate, has secured $25 million in first-round venture capital from six private equity companies, led by CMGI Ventures and The Investcorp Group.

The investment group, announced March 27, also included several individuals: Leo Hindery, chief executive officer of Global Crossing; Henry Kravis of KKR; and John H.N. Fisher, managing director of Draper Fisher Jervetson.

“To develop an enterprise’s wireless data strategy, [we] examine each corporate business process and make strategic recommendations to extend wirelessly back-office data outward to any wireless device,” said Rob Balgley president of MobileLogic.

“For example, we have deployed the MobileLogic Wireless Virtual Private Network technology at [more than] 50 corporations, enabling mobile workers to access critical data secured behind a firewall.”

MobileLogic’s approach is “agnostic” with respect to technology and platform, said James Altucher, chief executive officer and founder of the company.

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