Russia's Kaspersky Lab reported that sales growth slowed substantially last year as the world's No. 4 maker of anti-virus software said its business was starting to mature.

The company, co-founded by computer security expert Eugene Kaspersky, said that sales grew 14 percent last year. That is down from growth of 38 percent in the prior year.

Revenue totalled $612 million last year. The company declined to provide profit figures.

Chief Sales and Marketing Officer Garry Kondakov downplayed the decline, saying that the drop was a result of the company's maturation.

I think it is natural, he said at a press briefing in Cancun, Mexico.

He said that Kaspersky Lab's sales were still growing faster than the overall anti-virus market.

(Reporting By Jim Finkle; Editing by Lisa Von Ahn)