Lookout today announced strong momentum after growing enterprise annual recurring revenue (ARR) by 56% year-over-year for FY 2022 ending January 31, 2022, while substantially increasing its customer count. The Company also secured debt financing for up to $150 million from funds and/or accounts managed by BlackRock to support its continued growth.
Demand for Lookout’s new Security Service Edge (SSE) solution is contributing to its growth as organizations seek a platform approach to securing access to SaaS apps, private apps and the global web.
“Our strong results demonstrate significant progress towards the strategic plan we outlined at the start of the year. We’re demonstrating the ability to deliver organic growth while simultaneously expanding our portfolio through acquisition,” said Jim Dolce, Lookout CEO. “At the same time, we’re extending our market reach through strategic partnerships that provide access to new customer opportunities.”
“We’re proud of the outcomes we’ve delivered through the first half of the year and confident that we’re building the capabilities and culture to deliver on our long-term commitments. The momentum we’re seeing is a testament to strong teams, customer focus, high-quality offerings, and strategic clarity. We’ll remain focused on creating value for all stakeholders, including our customers, employees, and shareholders,” concluded Dolce.