O’Melveny Represents Lookout in US$55 Million Strategic Financing RoundOctober 16, 2013
FOR IMMEDIATE RELEASE
O’Melveny & Myers LLP
SILICON VALLEY ─ October 16, 2013 ─ O’Melveny & Myers LLP represented Lookout, a leader in security software, in a US$55 million strategic financing round. Deutsche Telekom led the investors, which included Qualcomm Incorporated, through its venture capital arm, Qualcomm Ventures, and top venture capital firms Greylock Partners and Mithril Capital Management. Current investors Accel Partners, Andreessen Horowitz, Index Ventures, and Khosla Ventures also participated.
The O’Melveny team was led by partner Paul Sieben and associate Katherine McCormick.
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With approximately 800 lawyers in 16 offices worldwide, O’Melveny & Myers LLP helps industry leaders across a broad array of sectors manage the complex challenges of succeeding in the global economy. We are a values-driven law firm, guided by the principles of excellence, leadership, and citizenship. Our commitment to these values is reflected in our dedication to improving access to justice through pro bono work and championing initiatives that increase the diversity of the legal profession. For more information, please visit www.omm.com
The following press release was issued by Lookout:
Lookout Closes $55M in Strategic Financing from Industry Leaders
Lookout Expands into the Enterprise, Accelerates International Growth and Invests in Security Beyond the Mobile Device
Oct 10th, 2013, San Francisco, US — Lookout, a leader in security software that protects people and businesses from mobile threats, today announced that it secured $55M in strategic financing in a round led by Deutsche Telekom. Mobile industry leader Qualcomm Incorporated, through its venture capital arm, Qualcomm Ventures and top venture capital firms Greylock Partners and Mithril Capital Management also invested in Lookout. Current investors Accel Partners, Andreessen Horowitz, Index Ventures, and Khosla Ventures all participated in the round. The capital will be used to continue international expansion, extend Lookout’s reach by moving into the enterprise and invest in security beyond the mobile device.
“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,” said 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.”
Lookout protects 45 million people worldwide and later this year will launch Lookout for Business to protect businesses from mobile threats. Lookout’s security platform is comprised of the world’s largest mobile threat dataset, providing Lookout with the unique ability to identify threats before they have a chance to disrupt business or affect a person’s mobile experience. As more people and devices connect to the network, Lookout’s platform becomes more intelligent, providing a safer experience to everyone.
“We like to sponsor technologies that can reset established markets,” said 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 is expanding worldwide by partnering with leading global mobile operators, including Deutsche Telekom, Orange, Sprint, and T-Mobile who have chosen Lookout to secure their customers. Today Lookout has more than 200 employees across offices in San Francisco and London.
“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.”
“Mobile has taken over as the dominant computing platform. Governments and businesses around the world now rely on mobile for their most important communications and infrastructure,” said Jeff Jordan, general partner at Andreessen Horowitz. “Deustche Telekom is taking a leadership role in promoting the security of the mobile ecosystem. We’re excited to partner with the new investors in supporting Lookout's efforts to secure the next generation of computing.”
For more information on Lookout, please visit Lookout.com.
Lookout builds security software that protects people, businesses and networks from mobile threats. With the world’s largest mobile threat dataset and the power of 45 million devices, Lookout proactively prevents fraud, protects data and defends privacy. Lookout secures the mobile experience for people everywhere through Lookout Mobile Security, a consumer app, and Lookout for Business, a cloud-based business offering for device security and management. Lookout was selected as a 2013 World Economic Forum Technology Pioneer company and received the 2013 Laptop Editor’s Choice Award. Lookout has offices in San Francisco and London. For more information, please visit Lookout.com.