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Monday, October 14, 2013

Mobile security company Lookout gets investment from Deutsche Telekom and Qualcomm

Mobile security specialist Lookout has arranged $55 million (£34.4 million) of strategic financing. Investors included Deutsche Telekom and Qualcomm Ventures as well as venture capital firms Greylock Partners and Mithril Capital Management, along with current investors Accel Partners, Andreessen Horowitz, Index Ventures and Khosla Ventures.

The company says it’ll use the money to continue its international expansion and extend its reach. A ‘Lookout for Business’ application is already planned.

Heikki Mäkijärvi, senior vice president for global strategic partnerships at 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 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 people worldwide and has partnered with a number of mobile companies including EE and Samsung.

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Author: The Fonecast
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