Protecting mobile devices from hackers is big business, as evidenced by the latest round of funding for Lookout Mobile Security. The nine-year-old startup announced on Wednesday that it has secured $150 million in a new round of financing, the largest so far this year and one of the largest ever for a computer security firm.
It also totals more than all of Lookout's previous funding combined. Headquartered in downtown San Francisco, the firm started out making freemium mobile security apps for consumers on Android and iOS and securing carrier partnerships. Since then, they've broadened their business into the enterprise space, as well as building a security analytics platform and a small security-centered app marketplace.
Lookout reports that more than 50 million people now use its apps, and has "millions" of premium subscribers.
Lookout co-founder and executive chairman John Hering told CNET that investor confidence signaled by the new funding meant that his company had the right approach to mobile security.
"It is going to take years to accomplish what we believe we are capable of," Hering said. "
