AnchorFree, maker of the Hotspot Shield consumer virtual private network, has raised $52 million in a Series C financing from Goldman Sachs. The Mountain View, Calif.-based company has raised $63 million in total since launching in 2005.
AnchorFree’s HotSpot Shield tool has been downloaded 60 million times with 100 million monthly user sessions and more than two billion page views per month, according to the company. The service provides users with a temporary IP address and encrypts their data so they can browse safely. HotSpot Shield is popular with travelers and web users in countries with censorship LAWS, allowing them to browse without being tracked. It also provides a level of malware protection by detecting unsecured Wi-Fi networks and blocking known malware sites.
In November, the company launched its first mobile app for iOS, which has been downloaded 1 million times. The service also added data compression that can cut down data usage by up to half. An Android app is still in the works.
AnchorFree co-founder and CEO David Gorodyansky said in a statement that the money will go toward expanding the company’s business as it tries to grab a bigger piece of its addressable market of 1.6 billion users who it feels need a secure browsing solution, Internet privacy, and freedom online. AnchorFree offers free ad-supported versions for the Mac and PC along with paid versions that offer more malware protection and faster browsing. The iPhone app is free for seven days and then charges for additional HotSpot Shield protection.