Blumira, a leading cybersecurity provider of automated threat detection and response technology in Ann Arbor, announced today it has raised $10.3 in a round of series A financing led by new investor Mercury Fund, an early-stage venture capital firm in Austin focusing of entrepreneurs and software innovation in middle America.
“Having additional capital behind us accelerates our velocity and ability to execute our vision of democratizing the detection and response market,” says Steve Fuller, co-founder and CEO of Blumira. “We’ve built incredible momentum in just a few short years, and we’re thrilled to have the support of world-class investors as we work to make security operations simple, automated, affordable and accessible to organizations of all sizes.”
The investment brings the company’s total capital raised to $12.9 million. Bumira will use the funding to continue to innovate and push the boundaries of traditional security information and event management (SIEM) solutions by bringing enterprise-level security to the mid-market through easy-to-use cloud-based technology.
It also plans to expand its team and double its employee headcount, targeting 80 employees in the next year. The company is hiring several positions, including head of product management, director of customer experience, and director of finance.
“The surge in recent high-impact cybersecurity attacks continues to prove that all companies need adequate and accessible security protection,” says Aziz Gilani, managing partner at Mercury. “The need for modern, simplified security tools has never been more compelling, and Blumira is leading the way in solving enormous and unique cybersecurity challenges, especially for the mid-market. This laser-focused team has incredible talent, and we look forward to actively supporting their vision.”
The capital also will be put toward the company’s partnership program with managed service providers (MSPs) by enabling quick growth of security practices and customers base without having to staff a full security operations center. Scaling both cloud and on-premises applications through its technical partnerships with companies such as Cisco, Amazon Web Services, Microsoft, SentinelOne, and more will be another focus.
Blumira’s cloud-based SIEM platform offers one of the fastest time’s-to-deployment in the industry with broad cloud coverage, allowing organizations to detect and respond to cloud security threats up to five times faster than the average SIEM provider.