KoolSpan is a mobile security startup based in Bethesda. The company creates hardware and software products, among them the TrustChip. The TrustChip provides voice encryption for iPhone users. According to SEC filings reported in Technical.ly, KoolSpan raised $7.4 million in equity and $2 million in debt. These financing amounts were cited separately in respective SEC filings and reported in Technical.ly's Startup Roundup. KoolSpan develops the TrustChip family of plug-in mobile security solutions, an industry-standard microSD mobile encryption engine that enables secure voice and data and the creation of TrustGroups. The TrustChip is designed to be inserted into smartphones and other mobile devices and secures applications, operating systems and device communications; TrustChip Secured solutions are FIPS 140-2 validated. KoolSpan's products are deployed by government and enterprise customers and are offered by leading wireless operators to protect sensitive communications in more than 18 countries. The company reports small deployments at governments and enterprises in 18 countries and growing market share in the U.S. federal government and large enterprises, and has worked with numerous Fortune 250 companies and government agencies. KoolSpan plans to leverage new financing to expand product offerings and invest in global sales, marketing and operations while building a global partner network. Earlier this year the company hired wireless and mobile industry veteran Gregg Smith as CEO and announced the awarding of four new security technology patents. KoolSpan provides secure connectivity solutions centered on its TrustChip hardware crypto processor, packaged as a microSD card that turns standard smartphones and computing devices into secure communication devices. The TrustChip supplies key management, authentication and encryption services and is exposed to application developers and OEMs via a TrustChip Developer Kit. Because the processor runs in its own optimized hardware environment, KoolSpan positions the TrustChip as insulated from threats on open-platform and mobile host devices and as a hardware anchor for secure voice and other applications. The company emphasizes ease of use—security embedded as simply as connectivity—and targets mission-critical network device connectivity. KoolSpan was founded in 2001 and is based in Bethesda, MD; founder Tony Fascenda holds more than a dozen issued patents and created the company’s flagship products and device-to-device architecture. Financially, the company recently completed a $4.0M financing and has completed multiple prior rounds.

Total raised

$22M

Funding rounds

7

Latest round

Convertible Note

Latest activity

Sep 2013