Venture Capitalists Invest in Lookout Mobile Security

The San Francisco based company, Lookout Mobile Security raised last week $19.5 million in Series C financing round. The round was led by the Switzerland based venture capitalist new investor, Index Ventures, with the participation of the Palo Alto based investor Accel Partners and Menlo Park based venture capital firm Khosla Ventures.

The Index Ventures’ Partner, Mike Volpi has joined the Board of Directors of Lookout Mobile Security. He says that “Smartphones are the next computer for billions of consumers and it’s clear that, just as in the PC world, consumers and their phones need protection. Lookout Mobile Security’s unique blend of a qualified executive team demonstrated success with consumer adoption, and careful balance of easy of use and sophisticated security technology, positions the company for success and rapid growth in 2011.”

Lookout Mobile Security’s Chief Executive and Founder, John Hering, declared that “2010 was a year of tremendous growth for Lookout Mobile Security. We skyrocketed to four million users, launched a successful premium service and gained industry and consumer accolades. Moving into 2011 mobile security will be critical. The solution needs to be complete and address the growing needs of smartphone users for protection. This investment will help Outlook expand to other platforms and develop additional security services to protect consumers.”

Because of threats such as data loss, theft of the phone and mobile viruses and malware, consumers need a higher degree of protection. Lookout Mobile Security designs a product which provides a comprehensive protection against these threats and a high ease of use.

Lookout Mobile Security, which has raised up to this moment a total of $36 million, having raised $5.5 million in series A funding in 2009 and $11 million in series B funding in May this year, in addition to this last third round of funding of $19.5 million, creates a product that protects Google Inc’s Android phones, Microsoft Corp’s Windows mobile (not Windows Phone) and Research in Motion’s BlackBerry, has launched more than one year ago, in September 2009. The product has antivirus abilities, alto the capacity to remote wipe a device if it is stolen or it gets lost and it can backup the data. The company has users in 170 countries and across 400 mobile networks. Lookout Mobile Security is the worldwide leader in smartphone security. It is funded by Accel Partners, Khosla Ventures, Trilogy Equity Partners and Index Ventures. Its competitors on the market are the security software producers and Symantec Corp.