Lumu, a Black owned cybersecurity startup yesterday announced that it has closed its Series A round of funding for the amount of $7.5 million.
The Miami based company offers a cloud based service that offers a cloud-based service that helps companies continually scan and react to data compromises in real time. They not only help companies prevent breaches, they also allow them to automate their responses.
Lumu launched in February 2020 and already has 1,300 enterprise customers. In just over 12 months, the company said it has analyzed more than 55 billion metadata records and detected more than 11 million cybersecurity threats.
The investment round was co-led by SoftBank Group Corp’s SB Opportunity Fund and Panoramic Ventures. ISS former CEO Tom Noonan and Palo Alto Networks former CEO Lane Bess, are also part of the round. Lumu also announced that Dr. Paul Judge, Managing Partner of Panoramic Ventures and a member of SB Opportunity Fund’s Investment Committee, has joined the company’s board.
“While attackers have become adept at covering their tracks once inside the network, they also must themselves use the network to move around, leaving trace remnants behind that become obscured amidst all the network noise. The LUMU solution was purpose-built to sift through massive amounts of network metadata in real-time, detect the telltale signals of compromise, and illuminate those network blind spots with pinpoint accuracy,” said Lumu CEO, Ricardo Villadiego.
The company intends to use the funds for sales and marketing initiatives, and additional research and development.
Villadiego previously founded Easy Solutions, which was part of a $2.8 billion acquisition by Cyxtera in 2017.
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