14 DAY TRIAL // Mobile security firm Lookout has raised $55 million (€40 million) in a strategic financing round led by Germany’s Deutsche Telekom. The list of investors also includes Greylock Partners, Qualcomm Incorporated and Mithril Capital Management.
Andreessen Horowitz, Accel Partners, Khosla Ventures and Index Ventures – all of which are current investors – also took part in this financing round.
According to Lookout, the newly raised money will be used for the company’s global expansion.
“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,” commented Heikki Mäkijärvi, 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,” Mäkijärvi added.
Currently, 45 million consumers from all over the world use the company’s mobile security products. Later this year, Lookout plans on launching business products as well.
“We like to sponsor technologies that can reset established markets,” noted 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’s worldwide expansion is a result of partnerships with several major telecoms companies, including Deutsche Telekom, Sprint, Orange, 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,” 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.”