Welcoming AppDome to Draper Nexus Family
We are excited to announce our investment in AppDome — a company enabling enterprises to deploy secure consumer-facing apps through their wrapping technology.
We are increasingly becoming dependent on our smart phones. We regularly access private and confidential information — from our bank to health insurance to social networks— through the apps in our phones often without any concerns about who may be prying on our data. Traditionally, the Apple iOS ecosystem has been considered more secure because it is more selective. But a recent incident shows that even Apple’s ecosystem is vulnerable. Apple took down 40 apps from its app store — including the likes of WeChat and Didi Kuaidi — after they found that these apps had been compromised through malware from developer tools. Another notable example was when hackers used the Starbucks app to empty bank accounts.
As this problem gets worse, corporations like Starbucks are looking for ways to secure their apps for many reasons:
- Bad user experience leading to loss of users or revenue
- Incidents like these hurt the brand reputation
- Chances of fraud leading to liability
Traditionally, mobile security has been targeted at enterprise apps although there is an acute need for consumer-facing apps. We were impressed with Appdome’s wrapping technology’s resilience to different types of malware and its ease of use from a developer’s perspective. We are excited to join hands with the AppDome team to enable a world where we can all use our favorite apps with little concern for the prying ears of hackers.
