CIT GAP Funds Invests in Kaprica Security

Proprietary device secures Android smartphones, tablets by simply charging

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CIT GAP Funds

Center for Innovative Technology GAP Funds

Herndon, VA (PRWEB) February 04, 2013

The Center for Innovative Technology (CIT) announced today a $100,000 investment in Kaprica Security, a mobile security company commercializing a secure smartphone charger that enables nation-state quality security for Android users.

Kaprica’s Skorpion™ secure smartphone charger replaces the stock charger and scans the device’s operating system and applications while simultaneously charging the unit. As an external piece of hardware attached through the USB port, Skorpion can examine the entire device to locate malware and rootkits more thoroughly than existing software solutions. When malicious behavior has been identified, the secure charger illuminates a red LED alert to indicate compromise and communicates the result to the user and, if applicable, IT managers. Skorpion then offers several remediation options to secure the device and ready it for safe use.

CIT President and CEO Pete Jobse said, “With the increased use of mobile technologies and the growing concerns about cyber security, we believe this investment in Kaprica and its team will yield great returns for consumers and the Commonwealth.”

Jobse noted that the cyber security marketplace is projected to grow to $120 billion by 2017 and that CIT is working with industry, government and university leaders to make sure that early stage companies and the Commonwealth are positioned to capture a large piece of that business.

Doug Britton, Kaprica CEO, said, “Currently, our Skorpion charger is in the late stages of development via a partnership with Belkin, a global provider of electronic solutions for consumers, businesses, government organizations and the education market. With the support from CIT GAP Funds, we will be able to accelerate product deployment. Belkin is leveraging its global distribution channels to sell the Skorpion charger into government, enterprise and foreign markets.”

Tom Weithman, CIT Vice President and GAP Funds Managing Director, said, “The availability of seed funding continues to be a challenge for early stage high-growth companies. That is why we are proud to be able to help entrepreneurs like Doug Britton take their companies to the next stage of growth.”

Since its 2005 launch, CIT GAP Funds has invested in over 70 companies across the Commonwealth of Virginia, deploying more than $9 million of public funds and attracting over $90 million more in private funding.

Learn more about Kaprica Security by visiting their website.

About the Center for Innovative Technology, http://www.cit.org
CIT is a nonprofit corporation that accelerates the next generation of technology and technology companies. CIT creates new technology companies through capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology startup companies and advanced technology consumers.

About the CIT GAP Funds, http://www.citgapfunds.org
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as: New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Clinic, Johnson & Johnson, General Electric and Alpha Natural Resources.

About Belkin Business, http://www.belkin.com/us/business/enterprise
Belkin Business, a division of Belkin International, offers technology solutions for office, classroom, IT infrastructure, and mobile environments. A proven technology leader for more than 30 years, organizations worldwide trust Belkin for its unwavering commitment to product quality, and expertise in creating solutions designed to address customer requirements in business, government and education. With a global supply chain and broad provider network, Belkin commands a purchasing power that delivers greater value and unparalleled execution advantages to customers. The company’s line of commercial products are available through Belkin's global network of distributors and resellers. Headquartered in Playa Vista, California, the company is represented in more than 25 countries.

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