Mobile data security firm Lookout lands $40M in new funding

Lookout Mobile Security has closed a new round of venture financing totaling $40 million, bringing total investment in the firm to $75 million. Andreessen Horowitz led the latest round, with existing investors Khosla Ventures, Accel Partners and Index Ventures also participating. Lookout will earmark the new investment to expand its product suite, drive international expansion and build out its staff.

Lookout Mobile Security protects more than 12 million smartphone and tablet users across 400 mobile networks in 170 countries from threats like malware, spyware and phishing attempts. Its solution also backs up personal data and helps locate lost or stolen devices. In July the firm unveiled its Mobile Threat Network platform, which delivers automated threat detection and analysis solutions designed to safeguard app stores, developers and consumers. Mobile Threat Network identifies and analyzes malware and spyware in real time, scanning for suspicious applications and targeting anomalies that could spell trouble. In the event a threat is confirmed, Lookout institutes measures to protect smartphones in immediate danger.

Lookout's Mobile Threat Network now scans hundreds of thousands of apps each month. The company recently released its Lookout API, extending its solution to any app store or download site. Lookout generated headlines earlier this year when it identified malware strains in Google's (NASDAQ:GOOG) Android Market.

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