Lookout, a US-based security software provider that protects people and businesses from mobile threats, has secured $55m financing led by Deutsche Telekom; also participating were Qualcomm Ventures, the corporate venture division of US-based semiconductor and telecoms equipment company Qualcomm, and venture capital firms Greylock Partners, Mithril Capital Management, Accel Partners, Andreessen Horowitz, Index Ventures, and Khosla Ventures.
The capital will be used to support international expansion – Lookout is partnering with global mobile operators including Deutsche Telekom, Orange, Sprint, and T-Mobile – to extend Lookout’s reach to enterprises and to invest in security beyond the mobile device.
Heikki Mäkijärvi, senior vice president, global strategic partnerships Deutsche Telekom, said: “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. 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 solutions. By partnering with Lookout, we’re investing in the future of mobile to make sure it’s a delightful, secure experience for everyone.”
Peter Thiel, Mithril’s investment committee chairman, said: “We like to sponsor technologies that can reset established markets. 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.”
Nagraj Kashyap, senior vice president, Qualcomm Ventures, said: “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. 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.”
Jeff Jordan, general partner at Andreessen Horowitz, said: “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. 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.”