Lockin Company, a specialist in mobile security solutions has received US$1.3 million (KRW 1.5b) in investment from KDB Business Bank. The investment comes within 2 years since its startup and has been sourced from a business bank rather than a traditional venture capital. This investment is the first of its kind in Korea from a major business bank into a startup still in its early stages. This investment reflects the level of confidence in Lockin Company’s technology as well as the emergence of the mobile market.
The company commenced in 2013 with the aim of becoming the leading mobile protection company in Korea. Last year the company released their ‘Lockin App Protector’ or LIAPP for short and are currently actively marking this solution. LIAPP is unlike other security technologies on the market that simply make source code viewing difficult. The technology creates a pass lock to the entire source code and secures this on a cloud through a mobile app. When a user uploads a developed app online to the LIAPP server, the platform applies a pass lock to the entire source code within three seconds.
Immediately following the release, the company secured the interest of companies in finance, communication and major institutions. Lockin Company now plans on utilizing this investment to help develop new products supporting specialized mobile businesses in the emerging sector of O2O (online to offline).
Choi Myung Gyu from Lockin Company commented on the investment, “This decision to invest from a business bank reflects the paradigm shift of the market towards an increasingly mobile market and the importance of providing security solutions for it”. “LIAPP was our first security solution for apps and we intent to extend this to games, and other total mobile security solutions with the aim to be the most trusted company in mobile security”.
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