Allied Minds, MITRE partnership means more funding for cyber security
March 25, 2014
Allied Minds, Inc., a Boston technology capital investment firm that funds early-stage technologies from U.S. national labs, has partnered with The MITRE Corp., a not-for-profit organization that operates six federally funded research labs, with the aim of commercializing technologies, starting those in the cyber and mobile security field.
The agreement, which was signed in October 2013, allows MITRE to share its intellectual property with Allied Minds, which will work on funding products and potentially building a company around that technology. Allied Minds is currently in the process of commercializing two technologies from MITRE: STRONGARM, an active defense cyber security system; and Secure Virtual Mobile Platform (SVMP), an open source program that provides greater data protection and a secure environment in which to build security applications. SVMP has already been integrated into the product portfolio of Allied Minds’ mobile security subsidiary, Optio Labs.
John Serafini, vice president at Allied Minds who heads up the firm’s federal innovations initiative, said his firm typically finds technologies, gives out seed funding of between $1 million to $2 million, followed by a Series A round of between $5 million and $10 million. MITRE, which has locations in Bedford, Mass., and McLean, Va., typically licenses its intellectual property to companies, but the collaborative agreement gives the non-profit another avenue to get technology into the hands of others.
As for its real world applications, Serafini said the potential commercial applications would come to good use, especially with recent news regarding significant data breaches, including the biggest one in recent memory at Target.