Lookout Receives Additional $150M In Funding In Order To Secure Enterprise Mobile Applications

You’ve probably heard of Lookout, the mobile security company based in San Francisco. Many people use their products on Android, iOS and Kindle devices. If you search Lookout Mobile Security on the Google Play Store you’ll stumble upon four current apps available by Lookout: Lookout Antivirus & Security, Heartbleed Mobile Security, Zapper Task Killer & Manager and a FREE Lost Phone Tracker. The most used one is probably the first one listed here, Lookout’s Antivirus is an extremely capable piece of software, I’ve personally used it for a while mainly out of curiosity. You’ve probably used Heartbleed a few months ago to find out whether your device is affected with the Heartbleed bug which rocked the Android world at that time. The last two apps are kind of self-explanatory.

Lookout seems to be doing good as far as business and finances are concerned, their transition to the consumer market is proceeding as planned, They received $150 million of additional investments from Bezos Expeditions (owned by Amazon’s CEO Jeff Bezos), Goldman Sachs, Morgan Stanley Investment Management and Wellington Management. If we add this up to the $55 million Lookout received from Deutsch Telekom, Qualcomm Ventures, Greylock Ventures and Mithril, they have received a total of $280 million in investments. Lookout preloads its service on T-Mobile, Sprint and AT&T phones which on its own gives this company a great number of users, approximately 50 million. Lookout is aiming to replicate the success it had in the consumer market inside business applications and accounts. CEO Jim Dolce states that “The market opportunity is huge, so as you can imagine there are a lot of legacy vendors like Symantec and new entrants entering the space.”

All of this makes perfect sense if you think about it for a bit. Considering we do more and more financial business over the internet, it is kind of logical investors want to invest in ventures like Lookout. Financial transactions over the internet are just an example of course. People are always concerned about security and I believe that won’t change anytime soon. In this world we live in today it is hard to keep anything a secret and companies like Lookout can profit out of the whole situation by offering the best security around in order to protect not just your finances, but devices and whatever is on them as best as they can.

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