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Intel invests $10 million in security company

Company's investment arm pumps up Iovation as part of a $15 million round of funding.

Intel Capital announced Thursday a $10 million investment in security company Iovation, which targets online fraud and abuse based on the identification and "reputation" of Net-enabled devices.

Device reputation tracks whether a particular machine has a history of negative online behavior attached to it.

Intel, which led the $15 million round, is increasingly tapping into the security market. And the chip giant is not alone. Other hardware vendors from networking giant Cisco Systems, which already has a large footprint in the security market, to storage titan EMC, which acquired RSA in a $2.1 billion deal last year, are making major investments in this area.

Intel's investment gives it a wider viewfinder into shifts within the security industry, a market where it sees potential for increasing sales of its processors. Last May, for example, Intel partnered with security vendor PGP to sell its Centrino Pro and vPro chips with PGP's encryption products.

Portland, Ore.-based Iovation, which uses device reputation for preventing online fraud and abusive behavior, plans to use proceeds from the investment to beef up development of the next version of its software. The company services aim to prevent phishing, chargebacks, identity theft, and other abuses, such as unwanted postings or chat abuse.