Record growth fueled by new product innovation, acquisitions, strategic partnerships and growing demand for a unified security platform to streamline data protection
SAN FRANCISCO, June 21, 2022 /PRNewswire/ — Look forInc.a leader in endpoint and cloud security solutions, today announced strong momentum after increasing the company’s annual recurring revenue (ARR) by 56% year-over-year for the 2022 financial year ending January 31, 2022, while significantly increasing its number of customers. The Company has also secured debt financing of up to $150 million from funds and/or accounts managed by BlackRock to support its continued growth.
Request The belvedere New Safety service edge (SSE) is contributing to its growth as organizations seek a platform approach to secure access to SaaS applications, private applications and the global web. By combining Cloud Access Security Broker (CASB), Zero Trust Network Access (ZTNA), and Secure Web Gateway (SWG) natively in a single platform, The belvedere unified model provides the best security and overall user experience. According to Gartner, by 2025, 80% of organizations seeking to procure SSE-related security services will purchase a consolidated SSE solution rather than a standalone cloud access security broker, secure web gateway, and ZTNA offerings. , compared to 15% in 2021.1
“Our strong results demonstrate significant progress towards the strategic plan we set out at the start of the year. We demonstrate our ability to generate organic growth while simultaneously growing our portfolio through acquisitions,” said Jim Dolce, CEO of Lookout. “At the same time, we are expanding our market presence through strategic partnerships that provide access to new customer opportunities.
A carefully crafted acquisition strategy
Less than a year later The belvedere March 2021 acquisition of CipherCloud, Gartner has released its 2022 Gartner® Magic Quadrant™ for Safety service edge in which Look for earned a place in the visionary category. The related 2022 Gartner Critical Capabilities for HSE class Look for among the top three vendors in four predefined use cases.2
In May 2022the Company finalized the acquisition of Slovakia-based SaferPass, a provider of secure online identity solutions for businesses and consumers. SaferPass technology will be integrated into the Look for consumer and small business products to enhance existing functionality while driving engagement and retention. The company plans to leverage millions of existing mobile devices and its strong carrier relationships to accelerate market traction.
Valuable business partnerships
In May 2022, Ivanti has integrated Lookout CASB and SWG with its Neurons for Zero Trust Access (ZTA) to help customers achieve comprehensive threat prevention and data security while following Zero Trust Access security principles. Neurons ZTA is an extension of Ivanti’s VPN solution acquired from Pulse Secure in December 2020. Pulse Secure today provides VPN terminations to more than 24,000 businesses on nearly 25 million endpoints.
In June 2022, vmware added Look forfrom Mobile Threat Defense to its Workspace ONE digital workspace platform. VMware and its channel partners will sell the resulting solution into new and existing Workspace ONE accounts. VMware has a large installed base of approximately 20 million Workspace ONE mobile devices.
Also in June 2022, Juniper Networks added Lookout CASB with data loss prevention (DLP) capabilities to its Juniper Secure Edge solution. Combined with Juniper’s unique SD-WAN solution powered by Mist AI, Juniper is the first in the market to offer a complete SASE solution with visibility into both the edge and the data center.
Last year Look for has released its new Secure Web Gateway (SWG), the final component needed to complete its SSE platform trilogy. The company remains committed to delivering a comprehensive SSE platform that natively combines CASB, ZTNA, and SWG with a focus on data protection to safeguard sensitive information. Since all traffic passes through a common intermediary “proxy” server, IT administrators can apply a consistent set of advanced data security controls, including data loss prevention (DLP), behavior analysis User and Entity Management (UEBA) and Endpoint Detection and Response (EDRM), with a common set of IT security policies.
The company also continued to enhance its market-leading mobile threat defense solution – Lookout Mobile Endpoint Security – with the launch of two innovative new features: Mobile Endpoint Detection and Response (mEDR) and Protective DNS for mobile platforms. iOS and Android forms. Mobile EDR is used to detect and investigate threats to mobile devices through continuous real-time monitoring and analysis of device data. DNS Protector encrypts DNS queries and implements safeguards to prevent users from accessing domains associated with phishing, malware, botnets, and other high-risk categories before an endpoint connection can be established.
The belvedere a proven track record of continuous innovation creates value for customers while helping the company achieve sustainable competitive advantage.
Industry Awards 2022 so far
- Cyber Defense Magazine appointed Look for the winner of its Global InfoSec 2022 award for “Next Gen in Cloud Access Security Broker (CASB)”.
- The CRN in the spotlight Look for with a 5-star rating in the CRN® 2022 Partner Program Guide and named The belvedere Jay Maciorowski a CRN 2022 chain manager. Look for was also named to the 2022 CRN Mobile 100 list.
- Look for was named one of SC MagazineTop 5 most promising unicorns.
- Expert Insights named Lookout “Best-of” Award Winner for its CASB solution.
- Look for Won Silver in Thought Leadership from the American Business Awards for the The Lookout Threat Intelligence Team discovery of four Android surveillanceware tools functioning as elements of much larger mobile advanced persistent threat (mAPT) campaigns originating in China and primarily targeting the Uyghur ethnic minority.
- The belvedere Tony D’AngeloVice-President, Public Sector, was appointed WashingtonExec Top Cyber Exec to watch.
“We are proud of the results we have achieved in the first half of the year and confident that we are developing the capabilities and culture to deliver on our long-term commitments. The momentum we are seeing is testament to a strong teams , customer focus, high quality offerings and strategic clarity. We will remain focused on creating value for all stakeholders, including our customers, employees and shareholders,” concluded Dolce.
About Look for
Look for is a leader in endpoint and cloud security solutions. Our mission is to secure and empower our digital future in a privacy-driven world where mobility and the cloud are essential to everything we do for work and play. We enable consumers and employees to protect their data and stay securely connected without violating their privacy and trust. Look for is trusted by millions of consumers, top businesses and government agencies, and partners like AT&T, Verizon, Vodafone, Microsoft, Google, and Apple. Based at San Francisco, Look for has offices at amsterdam, Boston, London, sydney, Tokyo, Toronto and washington d.c. To learn more, visit www.lookout.com and follow Look for on his Blog, LinkedInand Twitter.
Contact: [email protected]
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© 2022 Lookout, Inc. LOOKOUT®, the Lookout Shield Design®, WARNING with Shield Design®, SCREAM® and SIGNAL FLARE® are registered trademarks of Look forInc. at United States and other countries. ALL IS WELL®, WARNING MOBILE SECURITY®, POWERED BY LOOKOUT® and PROTECTED BY LOOKOUT® are registered trademarks of Look forInc. at United States; and POST PERIMETER SECURITY ALLIANCE™ is a trademark of Look forInc. All other brand and product names are trademarks or registered trademarks of their respective holders.
1 Gartner, “Magic Quadrant for Security Service Edge,” John Watts, Craig LawsonCharlie Winckless, Aaron McQuad, February 15, 2022.
2 Gartner, “Critical Capabilities for Security Service Edge,” Craig LawsonCharlie Winckless, John Watts, Aaron McQuaid, February 16, 2022.
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