Lookout, a leader in mobile security, has raised $55m in a fundraising round which saw Deutsche Telekom, the German telecoms company, and Qualcomm, the chipmaker.
The money will be used for expanding into selling its software to businesses and protecting the “Internet of Things”.
The San Francisco-based company also raised money from VC firms Greylock Partners and Mithril Capital Management, on top of getting more funding from its current investors Accel Partners, Andreessen Horowitz, Index Ventures and Khosla Ventures. Before this funding round, it had raised $76.5m in total.
John Hering, co-founder and chief executive, said the company wants to become the leading security firm for the “post-PC era” and hopes to work closely with Qualcomm to develop security software for the new wave of devices which are being connected to the internet. Read more