Lookout Expands into the Enterprise, Accelerates International Growth and Invests in Security Beyond the Mobile Device
Lookout, a maker of mobile security software, announced that it has secured $55 million in strategic financing that it plans to use to support international expansion and move into the enterprise mobile security space.
The San Francisco based company said it would launch a mobile threat protection product for businesses later this year, and also hinted at plans for “security beyond the mobile device”, but did not go into detail.
The company also said it was expanding its partnerships with mobile operators around the world, including Deutsche Telekom, Orange, Sprint, and T-Mobile who are using Lookout’s software to provide security for their customers.
The financing round was led by Deutsche Telekom and Qualcomm, through its venture capital arm, Qualcomm Ventures and venture capital firms Greylock Partners and Peter Thiel-backed Mithril Capital Management also invested in Lookout. Current investors Accel Partners, Andreessen Horowitz, Index Ventures, and Khosla Ventures all participated in the round, the company said.
“We like to sponsor technologies that can reset established markets,” said Peter Thiel, Mithril’s investment committee chairman. “Ajay Royan and I see Lookout connecting three platforms crucial to the future of computing: mobile, big data, and security. We were really impressed by Lookout’s leadership as well as their mobile security expertise and their data-driven approach to security positions.”
Lookout currently has more than 200 employees across offices in San Francisco and London, and currently protects 45 million mobile users around the world.
“Mobile has taken over as the dominant computing platform. Governments and businesses around the world now rely on mobile for their most important communications and infrastructure,” said Jeff Jordan, general partner at Andreessen Horowitz. “Deutsche Telekom is taking a leadership role in promoting the security of the mobile ecosystem. We’re excited to partner with the new investors in supporting Lookout’s efforts to secure the next generation of computing.”