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iVerify Raises $4M to Take On the Growing Threat of Mercenary Spyware

Aug 24, 2023

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iVerify Team

Now a new independent company dedicated to rooting out mobile spyware


NEW YORK CITY, August 24, 2023 – iVerify, the first mobile threat hunting company, announced the end of its incubation period at Trail of Bits, emerging as an independent company with Danny Rogers as CEO and Rocky Cole as COO. The company also announced it raised $4M in seed funding led by Mischief Ventures with participation from Mantis Venture Capital, Altman Capital, Parameter Ventures, and Box Group. Dustin Moring, General Partner from Mischief Ventures, will join iVerify’s board of directors. The new investment will be used to grow iVerify’s engineering team and accelerate product development for enterprise customers. 

‍Mobile devices are no longer secure out-of-the box. Mobile malware, particularly mercenary spyware, continues to grow in volume and severity, while people rely more than ever on their devices. iVerify is the first company focused on rooting out these sophisticated threats to protect mobile devices for consumers and organizations.

‍"These are the right folks to go after this problem,” said Dustin Moring, General Partner at Mischief Ventures, “It’s rare for a seed startup to have the impressive portfolio of enterprise customers that iVerify already has. It’s also rare to find a founding team with the technical prowess and the business mindset to build something that is both technically sound and commercially viable.”

‍“As an investor, I’m interested in teams that solve real problems and products that change the market,” said Alex Pall, founder and General Partner at Mantis VC. “iVerify is the first startup to stand up to the growing ranks of spyware mercenaries, and it’s built by a team of experts who understand the very real human consequences of this scourge.”

iVerify for Consumers: An Easy Security Toolkit for iOS 


The iVerify consumer app looks for mercenary spyware, checks for secure configuration settings and software patches, and includes step-by-step security guides to walk users through the often tricky steps required to add additional protection to their devices.

‍Trail of Bits originally created iVerify as a fast and easy way to confirm if their own iOS devices were secure. After using it in-house for several years, iVerify launched as a consumer app in 2019 with instant popularity among privacy- and security-minded iOS users. 

‍“Mercenary spyware that attacks individual devices falls through the cracks of threat intelligence solutions that only analyze network traffic or depend on a large volume of incidents to trigger development of new IOCs,” said Dan Guido, CEO of Trail of Bits. “That leaves a lot of high-risk people vulnerable to these attacks.” 

‍“iVerify’s advanced detection capabilities are able to alert users to potential issues even before the manufacturers can,” said Mikhail Sosonkin, former security researcher at Apple and advisor to Amnesty International. “It’s even more impressive that they do this with user privacy in mind.”

iVerify for Enterprise: Mobile Forensics without Employer Surveillance 

iVerify’s enterprise product is the only solution that provides fleet-wide iOS and Android security telemetry without requiring a management profile on the device. This means employees can keep their personal data private. 

 It includes all the features of the consumer app, plus a dashboard to give security teams real-time visibility into the security posture of their mobile fleet, including whether threats have been detected, whether employees have enabled biometric and PIN lock, and whether users need to update their operating systems. 

The Challenge Ahead for CISOs

iVerify customers include companies, NGOs, and nonprofits in sensitive industries such as defense/space, media, finance/crypto, human rights, and journalism. Several customers have employees deployed in war zones around the world and even those using an MDM want an added layer of detection capability looking for the advanced threats that other mobile security products don’t detect.

‍“We are the first mobile threat hunting startup designed to root out emerging mercenary spyware – not just the easy stuff,” said Danny Rogers, co-founder and CEO of iVerify. “Security teams know mobile phones are often the least secure node in their tech stacks, but until now there hasn’t been a solution that can protect their fleet against sophisticated threats, balance security and privacy, and is easily deployed. iVerify satisfies all three.”

‍Request more information about iVerify for Enterprise at iverify.io/contact.

iVerify is currently hiring Android, iOS, and full stack developers. Check out and apply for open roles on our careers page.

About iVerify

iVerify is the only mobile threat defender dedicated to rooting out mercenary spyware. Using our products is as easy as downloading an app from the Apple App or Google Play stores. Learn more at iVerify.io

Media Contact

press@iverify.io

Seed Investors

Lead investor: Mischief Ventures

Joined by: 

Altman Capital

Box Group

Mantis Venture Capital

Parameter Ventures