Cybersecurity startup Blumira raises $10.3M in investment
Michigan-based cybersecurity start-up, Blumira has raised investment funding to help fight against cyber crime and hacking. In a series-A round led by Mercury with participation from Ten Eleven Ventures, M25, Array Ventures, and others.
CEO Steve Fuller said: "The investment, which brings Blumira’s total raised to $12.9 million to date, will be used to grow the company’s security information and event management platform and double the size of its team to 80 employees within the next year."
Founded in 2018 by Matthew Warner and Fuller, Blumira looks to combat cyber threats by identifying and delivering alerts on threats to help organisations respond to indicators of an attack. The platform enables IT admins to set up cloud security for Microsoft 365, Amazon Web Services (AWS), and more using APIs, ostensibly shortening the time to security compared with the industry average.
Fuller went on to say: "With Blumira’s cloud security monitoring platform and access to security experts, there’s no need to staff an in-house security operations centre. Our platform now enables mid-market companies to go from zero to a fully operational security solution in a matter of hours rather than the weeks and months it takes for the status quo tools on the market.”
Fuller notes that the adoption of SAAS apps and migrations to the cloud have accelerated during the health crises. As companies shifted workloads to multicloud environments to support business continuity, the demand for security solutions grew. The global incident response services market is expected to reach $10.13 billion by 2026, Mordor Intelligence reports.
Blumira, which claims to have “hundreds” of mid-market customers, recently launched an AWS security monitoring integration to detect, alert, and allow teams to respond to cloud security threats such as anomalous logins and misconfigured storage buckets.
Fuller added: “Our platform now provides centralized data collection from endpoint, cloud infrastructure, identity, network and more, out-of-the-box cloud and on-premises integrations, data analysis, correlation and high-value alerts to identify threats, ongoing data parsing and pre-tuned detections, and prebuilt playbooks that guide IT teams through faster remediation. The platform automatically identifies indicators of ransomware attacks early and often, enabling busy IT teams to quickly contain threats. “The fact that our automated threat response platform can also be quickly deployed and used by teams of all sizes has only accelerated the company’s growth.”