Chris Eng Partner at Sands Capital joins the board and Morgan Stanley Global CISO Alonzo Ellis joins as a board observer
BELFAST, NORTHERN IRELAND & NEW YORK, NY, UNITED STATES, October 20, 2026 /EINPresswire.com/ — iVerify, the leader in advanced mobile endpoint detection and response (EDR) solutions, today announced it has received $17 million in new funding including investment from world-renowned companies that are early adopters of advanced mobile security solutions including Sands Capital, Entropy Ventures, NAventures, National Bank of Canada’s corporate venture arm, Morgan Stanley and United Airlines Ventures. As part of the investment, iVerify welcomes Chris Eng, Partner at Sands Capital, to the board and Alonzo Ellis, Morgan Stanley’s Global CISO, as a board observer.
The strategic cash injection comes at a tumultuous period for the SaaS industry that is reeling from the impact of frontier AI models. Patching cycles have collapsed and the security provided by OEMs isn’t enough to protect against the speed and sophistication of the threats businesses face today. Mobile devices are particularly hard hit as the majority of enterprises rely on a patch-only strategy to secure these endpoints or on legacy mobile device managers (MDM) that only answer what a device is, not whether something malicious is happening on it.
In the last six months alone we’ve had Fomopeek, an application that was App Store approved and contained iOS kernel exploits; WeWorm, the first known zero-click, wormable mobile malware that was able to jump back and forth from iOS and Android through a vulnerability in WeChat; and two different iOS exploit kits, DarkSword and Coruna delivered via watering hole attack on compromised legitimate websites the iVerify threat intelligence team helped uncover. These threats bypass the network detections that legacy mobile security vendors have tried to retrofit to work for on-device attacks and can’t guarantee meaningful insurance against compromise.
“We are honored to welcome such innovative and experienced investors to help iVerify meet this critical moment,” said Dr. Danny Rogers, iVerify Co-founder and CEO. “The visibility provided by EDR is the only defense against the gap between vulnerability exploitation and patch deployment, which is exactly why EDR software is standard issue for traditional endpoints including laptops and servers. There’s recognition now that it’s a must for mobile devices too, something we anticipated when we spun the company out in 2023.”
“Despite record numbers of patches being released by the vendors that underpin core business processes, organizations now operate in a world where vulnerabilities are exploited before a patch can be deployed,” said James Povitz, Principal at NAventures. “With financial institutions firmly in the crosshairs, demonstrated by the slew of headlines detailing social engineering campaigns to spyware attacks, the days of kicking the mobile security can down the road are over. iVerify did what no other company has been able to do with its scalable, purpose-built mobile EDR and NAVentures is confident in their ability to continue to lead the category.”
“Enterprise security leaders increasingly tell me mobile is where they have the least visibility,” said Jeffrey Reitman, Founder and General Partner at Entropy Ventures. “Exploit kits like Coruna and DarkSword went from surveillance tools to criminal campaigns within months, compromising iPhones through a single website visit, and AI is making them cheaper to build and repurpose. Large enterprises I spoke with in diligence told me iVerify surfaces data they can’t get anywhere else. Hearing that feedback made iVerify a no-brainer as the first investment in Entropy’s history.”
“Mobile threats are exploding exactly because this is where most organizations have the least visibility and the most user concentration with almost 100% of mobile phone users running on one of two operating systems,” added Ryan Bateman, CTO & CISO at Sands Capital. “Attackers are taking advantage by smishing, vishing and SIM swapping their way into corporate networks and ramping use of advanced spyware to steal passwords, session tokens and sensitive communications. Mobile EDR is a must for financial institutions.”
“As mobile threats become a broader issue across organizations, iVerify has developed advanced detection capabilities at scale to help enterprises identify sophisticated threats and strengthen their mobile security posture,” said Zheng Wang, Head of Strategic Investments at Morgan Stanley. “We are pleased to be investing in this round to enable its next phase of innovation.”
The funds come on the heels of iVerify’s inclusion on Fast Company’s 2026 Next Big Thing In Tech list and are earmarked to help the company scale operations as it handles an influx of interest from businesses that are responding to the fallout from AI-enabled cyberattacks and looking for an enterprise-wide solution able to handle myriad new mobile threats they are facing.
To learn more about how iVerify can help protect your enterprise fleet and see our open roles, visit: www.iverify.com.
About iVerify
iVerify is a pioneer in mobile endpoint detection and response (EDR) solutions, providing advanced protection against the real threats mobile devices face. The company’s comprehensive security platform safeguards organizations from fileless malware, smishing, malicious applications, ransomware operations, and breaches resulting from credential theft. iVerify’s solutions span from consumer to enterprise and government sectors, offering both privacy-focused BYOD protection and enterprise-grade security capabilities to ensure every device in the workplace is secure.
For more information, please visit: www.iverify.com.
Monika Hathaway
iVerify
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