Silicon Valley venture capital-backed mobile IT company MobileIron, is targeting to raise up to $100 million in an upcoming offering.
The Mountain View company led by CEO Robert Tinker offers software that helps businesses protect data that employees share on mobile devices.
Its chief competitor, Atlanta-based AirWatch, agreed to be acquired in January by VMware for $1.54 billion. It also competes with Sunnyvale-based Good Technology, another local company that is expected to go public this year.
The sales of mobile-device management software is projected by the Gartner research firm to grow to about $1.6 billion this year, compared with $784 million in 2012.
In the last three years, MobileIron’s revenue grew nearly sevenfold to $105.5 million. Its net loss grew by about 26 percent in that period to $33 million.
Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Silicon Valley Venture Capital, Mobile IT Company, MobileIron, Robert Tinker, Software, Atlanta, AirWatch, VMware, Sunnyvale, Good Technology.