The security company Lookout reports annual recurring revenue (ARR) growth of 56% year-on-year for the financial year 2022, which ended on 31 January 2022. The number of customers is also growing strongly worldwide, and to support continued growth, the company also secured debt financing of up to $ 150 million from funds and / or accounts managed by BlackRock. The company does not disclose exact revenue and profit figures.
Demand for Lookout’s new Security Service Edge (SSE) solution is driving this growth as organizations seek a platform approach to secure access to SaaS apps, private apps and the Internet. By combining Cloud Access Security Broker (CASB), Zero Trust Network Access (ZTNA) and Secure Web Gateway (SWG) into one platform, Lookout’s unified model delivers the best security and user experience. According to Gartner, 80 percent of organizations seeking SSE-related security services by 2025 will purchase a consolidated SSE solution instead of a separate cloud access security broker, secure web gateway, and ZTNA solutions. In 2021, it was still 15 percent.
“Our strong results show that we have made significant progress in delivering at the strategic level we outlined at the beginning of the year. We demonstrate our ability to grow organically as we expand our portfolio through acquisitions,” said Jim Dolce. , CEO of Lookout. “At the same time, we are expanding our market reach through strategic partnerships that create new opportunities.”
Less than a year after Lookout’s acquisition of CipherCloud, in March 2021, Gartner released its 2022 Gartner Magic Quadrant for Security Service Edge, which placed Lookout in the “Visionary” category. In the related 2022 Gartner Critical Capabilities for SSE, Lookout ended up as a top three provider in four predefined use cases.
In May 2022, the acquisition of Slovakia-based SaferPass, a provider of secure online identity solutions for businesses and consumers, was completed. SaferPass technology will be integrated into Lookout’s consumer and small business products to enhance existing features while enhancing customer retention. The company plans to leverage millions of existing mobile endpoints and its strong relationships with telecommunications companies to accelerate growth.
In May 2022, Ivanti Lookout integrated CASB and SWG with its Neurons for Zero Trust Access (ZTA), to help customers with complete threat prevention and data protection through Zero Trust Access security. Neuron’s ZTA is an extension of Ivanti’s VPN solution acquired from Pulse Secure in December 2020. Pulse Secure currently offers VPN solutions to more than 24,000 organizations at nearly 25 million endpoints.
In June 2022, VMware Lookout added Mobile Threat Defense to its Workspace ONE digital workplace platform. VMware and its distribution partners will sell the resulting solution to both new and existing Workspace ONE customers. VMware has approximately 20 million mobile Workspace ONE endpoints.
In June 2022, Juniper Networks Lookout added CASB with Data Loss Prevention (DLP) to its Juniper Secure Edge solution. Combined with Juniper’s SD-WAN solution based on Mist AI, Juniper is the industry’s first to offer a full-stack SASE solution with visibility across both the edge and the data center.
Last year, Lookout released its new Secure Web Gateway (SWG), the last component needed to complete its SSE platform. The company remains committed to delivering a complete SSE platform that combines CASB, ZTNA and SWG with a focus on protecting sensitive information. As all data traffic flows through a single shared proxy server, IT administrators can apply a coherent set of advanced data security controls, including Data Loss Prevention (DLP), User and Entity Behavior Analytics (UEBA) and Endpoint Detection and Response (EDRM), with a common set IT security policies.
The company has also further enhanced its Mobile Threat Defense solution – Lookout Mobile Endpoint Security – with the addition of two innovative features: Mobile Endpoint Detection and Response (mEDR) and Protective DNS for iOS and Android platforms. Mobile EDR is used to detect and investigate threats to mobile endpoints through real-time continuous monitoring and analysis of endpoint data. Protective DNS encrypts DNS requests and implements security measures to prevent users from accessing domains used for phishing, malware, botnets, and other risks before connecting.
Industrial prices in 2022, so far:
Cyber Defense Magazine named Lookout the winner of the 2022 Global InfoSec Award for “Next Gen in Cloud Access Security Broker (CASB).”
CRN gave Lookout 5 stars in the CRN 2022 Partner Program Guide and named Lookouts Jay Maciorowski a “CRN Channel Chief” for 2022. Lookout was also included in the 2022 CRN Mobile 100 list.
Lookout was named one of SC Magazine’s Top 5 most promising unicorns.
Expert Insights named Lookout a ‘Best-of’ award winner for its CASB solution.
Lookout won silver in ‘Thought Leadership’ from the American Business Awards for Lookout Threat Intelligence Teams’ discovery of four Android surveillance tools that serve as part of much larger mobile advanced persistent threat (mAPT) campaigns from China and mainly target the Uighur ethnic minority.
Tony D’Angelo, VP of Public Sector at Lookout, was named ‘WashingtonExec Top Cyber Exec to Watch’.
“We are proud of the results we achieved in the first half of the year and are convinced that we have the capabilities and culture to deliver on our long-term plans. The growth we see reflects strong teams, customer focus, offers of high “Quality and strategic clarity. We continue to focus on creating value for all stakeholders, including our customers, employees and shareholders,” concludes Dolce.