Mobile security firm, Lookout closes $55 million funding

Lookout, a leader in mobile security software that protects people and businesses from mobile threats today announced that it secured $55 million funding in a round led by Deutsche Telekom.

Mobile industry leader Qualcomm, through its venture capital arm, Qualcomm Ventures and top venture capital firms Greylock Partners and Mithril Capital Management also invested in Lookout. Current investors Accel Partners, Andreessen Horowitz, Index Ventures and Khosla Ventures all participated in the round. The capital will be used to continue international expansion, extend Lookout’s reach by moving into the enterprise 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,” said Heikki Makijarvi, SVP global strategic partnerships Deustche Telekom.

“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,” added Makijarvi.

Lookout protects 45 million people worldwide and later this year will launch Lookout for Business to protect businesses from mobile threats. Lookout’s security platform is comprised of the world’s largest mobile threat dataset, providing Lookout with the unique ability to identify threats before they have a chance to disrupt business or affect a person’s mobile experience. As more people and devices connect to the network, Lookout’s platform becomes more intelligent, providing a safer experience to everyone.

“We like to sponsor technologies that can reset established markets,” said Peter Thiel, Mithril’s investment committee chairman.

Lookout is expanding worldwide by partnering with leading global mobile operators, including Deutsche Telekom, Orange, Sprint, and T-Mobile who have chosen Lookout to secure their customers.

“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,” said Nagraj Kashyap, senior vice president, Qualcomm Ventures.

“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,” added Kashyap.

“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, Andreessen Horowitz.

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