That deal marks the largest investment in an enterprise company so far this year according to Business Insider.
The private equity and venture capital group said Atlanta-headquartered AirWatch operates in a market that is seeing “explosive growth” and noted that the business is acquiring an average of more than 500 new clients per month.
The new financing will be used to fund acquisitions as well as take advantage of organic growth opportunities and promoting its content collaboration technology Secure Content Locker.
AirWatch’s technology ensures enterprise mobility deployments are secure and that corporate information is protected.
Its customers include for the top three global Fortune companies, the top four global energy companies and six of the top ten global airlines as well as six of the top ten pharmaceutical companies.
Jeff Horing, managing director of Insight Venture Partners, said, “The mobile enterprise market is experiencing explosive growth, and AirWatch has emerged as the market’s leading device management solution, without raising any outside capital.
“As the first institutional investors we hope to support AirWatch’s strong growth trajectory and further strengthen the company’s leadership in the field.”
Insight Venture Partners invests in eCommerce, Internet, on-premise and SaaS-based software and data-services companies. Since its inception in 1995 the firm has raised more than $150bn and made over 150 investments around the globe.
Earlier this month Insight led an $80m mezzanine financing round for New Relic.
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