NetQin Mobile Inc., a Beijing-based provider of mobile security solutions, has raised $20 million in third-round funding. Backers include GSR, Sequoia Capital, Ceyuan Fund and Fidelity Asia. The company previously raised $15 million.
NetQin Mobile Inc., the global leading mobile security service provider, announced today that the company gets the third round of investor funding for $20 million. Riding on top of the cloud security platform, NetQin delivers proven mobile security solutions- including anti-virus, anti-spam SMS/telephone, and privacy protection to millions of users around the globe. The company is targeting to build the largest mobile security service provider worldwide.
NetQin was founded in October 2005 by Dr. Lin Yu, Dr. Shi Wenyong and Dr. Zou Shihong, and backed by leading venture capital firms, including two rounds of venture capital investment totaling $15 million in 2007 from GSR, Sequoia, Ceyuan, and Fidelity Asia. By the end of March 2010, NetQin is providing mobile security services to more than 43 million users in 200 countries and regions worldwide, protecting them against mobile security threats and preventing them from financial loss and privacy leakage.
As a part of its globalization strategy, the company provides products and services in 8 different languages to international users. NetQin is accelerating its globalization expansion through close partnership with operators, phone manufacturers, retailers and internet companies. International users now hold about 1/3 of the total user base. NetQin has successfully penetrated into Europe and the North America market through partnerships with Huawei and PhoneGuard.
In China, NetQin is an uncontestable leader in the mobile security market, holding 68% market share, according to 2009 China Mobile Security Market Research Report, Frost & Sullivan. The company is the only partner providing anti-spamming services to China Mobile and providing online scanning services to Mobile Market also run by China Mobile. NetQin is a close partner of China Unicom as well. As an important partner to Nokia, NetQin products are preloaded on all S60 devices sold in China and on to all the latest Sony-Ericsson S60 devices sold in China.
The third round of funding will boost NetQin’s globalization strategy to accelerate the international market expansion, develop products adaptable to more emerging operating systems, enhance the capability of innovation in customer services, and elevate the corporate brand through branding strategy; furthermore, it will enhance NetQin’s overall leadership in the global mobile security market.
Founded in Beijing in 2005 and backed by leading venture capital firms like Sequoia, Mayfield and Fidelity, NetQin delivers complete mobile security solutions, including anti-virus, anti-spam, and privacy protection, to over 43 million users worldwide. As a leading player in mobile security, NetQin holds 68% market share in China, and has received several industry awards, including the 2009 China Frost & Sullivan Award for Mobile Security Market Leadership.