Irvine-based BlueCava has secured $5 million in funding from billionaire investors Mark Cuban and Tim Headington. The online security software developer aims to use the capital to grow its product line and expand globally.
As part of the funding deal, Cuban – owner of the Dallas Mavericks basketball team and Landmark Theatres, and chairman of the cable network HDNet – will join BlueCava’s board of directors.
BlueCava’s suite of software protects against online fraud, enhances communication through the use of devise identification technology and provides businesses with the ability to detect, identify and track devices within their own environment. PCs, smart phones, video-game consoles and set-top boxes are given a unique ID and can be tracked anywhere in the world.
“BlueCava has created some very innovative technology and has a disruptive business model that will redefine the role that devices play in targeted online marketing and in fighting online fraud,” Cuban said. “Blue Cava has a huge market opportunity, and I am excited to be joining the board.”
Headington is the founder and owner of Headington Oil, as well as a hotelier and a film producer.
“We are very excited to add two all-star business people and visionaries to our team,” said BlueCava CEO David Norris. “It is a strong validation of our business and will help to accelerate BlueCava’s growth and extend our market leadership position. It’s clear they really understand BlueCava’s market opportunity and our disruptive business model.”
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