Lockin Company Receives 1.5 Billion Won in Investment from KDB Industrial Bank
2015.11.04
Mobile security specialist Lockin Company (CEO Choi Myoung Kyu) announced on the 4th that it has successfully attracted 1.5 billion won in investment from KDB Industrial Bank (hereinafter referred to as the Industrial Bank).
This is the first time that the Industrial Bank, a state-run bank, has directly invested in a startup.
With this, Lockin Company has successfully attracted investment from the Industrial Bank, a public financial institution rather than a venture capital (VC), in just two years since its launch as a startup, and has gained recognition for its credibility and product stability.
Lockin Company plans to use the future investment funds to develop new products and actively promote sales and marketing to grow into a leading mobile company in Korea.
This investment was made in recognition of Lockin Company’s unique technology and growth potential, which protects against security incidents that may occur as we transition from the PC era to the mobile era with specialized mobile security technology.
Lockin Company, established in 2013 with the goal of becoming the best mobile security company in Korea, launched the mobile application (app) security solution ‘LIAPP (LOCKIN APP PROTECTOR, LIAPP)’ last year and is actively promoting sales activities.
LIAPP is the only cloud-based mobile app security solution in Korea that encrypts the entire source code, rather than using an obfuscation method that makes it difficult to view the existing source code. When a user uploads a completed app to the LIAPP server, the entire source code can be safely encrypted in just 3 seconds, securing suppliers for major domestic companies such as finance and telecommunications and major public institutions immediately after its release.
Lockin Company plans to use this investment as an opportunity for a quantum jump and actively engage in sales targeting O2O (Online To Offline) service providers, financial institutions, and public institutions that have recently entered various fields.
As O2O services that connect online and offline expand across all fields, starting with the e-commerce industry, the importance of mobile apps as a sales channel is increasing, and as public institutions’ homepages and groupware are emerging as mobile apps, the business opportunities for ‘Reapp’ are increasing explosively.
Lockin Company has decided to recruit passionate talents who will lead the new mobile security paradigm centered around ‘LIAPP’ and move its headquarters to Pangyo, where many IT companies are located, in preparation for active expansion of its domestic business.
Lockin Company CEO Myoung Kyu Choi said, “This investment from the Industrial Bank of Korea is in line with Lockin Company’s business vision, which started from the idea that in the mobile era where everything from office work, internet, and even purchasing can be done via mobile, the paradigm of security solutions will also change to center on mobile.” He added, “Starting with the successful establishment of our mobile app security solution ‘LIAPP’ in the domestic market, we will complete our product lineup with the launch of game security solutions and integrated mobile security solutions, and grow into the most stable and trustworthy mobile security company.”
