Lookout Gets $55 Million in Funding
The funds will be leveraged to continue international expansion, expand into the enterprise, and invest in security beyond the mobile device.
Security software company Lookout recently announced that it had secured $55 million in strategic financing in a round led by Deutsche Telekom, with participation from Qualcomm Ventures, Greylock Partners, Mithril Capital Management, Accel Partners, Andreessen Horowitz, Index Ventures, and Khosla Ventures.
According to Lookout, the funds will be used to continue international expansion, expand the company's reach into the enterprise (Lookout for Business will be launched later this year), and invest in security beyond the mobile device.
"With the huge uptake of smartphone penetration, the 'security for mobile devices' topic has become much more important. It’s critical that we offer services that our customers trust,” Heikki Mäkijärvi, SVP global strategic partnerships at Deustche Telekom, said in a statement. "Lookout's experience in developing leading-edge security applications for this new dynamic environment makes them the ideal partner for us in this category of device solution. By partnering with Lookout, we’re investing in the future of mobile to make sure it’s a delightful, secure experience for everyone."
Lookout currently protects 45 million users worldwide, and has more than 200 employees in its offices in San Francisco and London. The company has partnered with mobile operators including Deutsche Telekom, Orange, Sprint and T-Mobile.
"Lookout is one of the leaders in the mobile security sector and an industry pioneer in repeatedly seizing new opportunities to deliver innovative security products," Qualcomm Ventures senior vice president Nagraj Kashyap said in a statement. "We believe all points of the ecosystem should be secure, and we look forward to collaborating with Lookout to build a safer and more protected mobile ecosystem."
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