Florida, USA-based provider of a platform helping enterprises to identify and isolate security compromises, Lumu raised USD 30 million in Series B financing. The round took place on September 28, 2023. Forgepoint Capital led the financing for the company. In addition, existing investors such as BIP Ventures, Exceptional Capital and SIMMA Capital provided the investment. So far, the total funding raised by the firm amounts to USD 38 million. As a part of the deal, Managing Director of Forgepoint Capital, Leo Casusol will join the Board of Directors.
Purpose of financing for Lumu
With the latest financing, the company has plans to focus on global sales and go-to-market strategy.
In addition, Lumu seeks to invest in research and development efforts to further advance differentiation. Recently the company received recognition as a leader by Forrester in network analysis and visibility and by GigaOm in network detection and response.
Lumu intends to further focus on getting its industry-validated solution into the hands of more resource-strapped security teams in need of proven solutions to effectively address the challenges of a complex threat landscape.
What the company’s official has to comment
Ricardo Villadiego, founder and CEO of Lumu, said, “SOC analysts face soaring alert volumes and false positives amid high-pressure situations where small mistakes have severe consequences. I founded Lumu with the belief that a paradigm shift was needed in cybersecurity and I’m thrilled to see the market and investors recognizing our network-centric approach to threat detection and response, as well as security analyst-focused experience.”
What the investors have to add
Managing Director of Forgepoint Capital, Leo Casusol, also joining the Board of Directors, said, “Zero trust deployments have been challenged with limited visibility into threat actors affecting users beyond the traditional defences. Lumu brings these attack vectors to light, easily integrates with other defence tools and provides real-time compromise visibility across all stages of the kill chain. Lumu allows businesses to address threats, contain lateral movement, improve security posture and scale the impact of their security teams without adding extra headcount in a tight talent market.”
About the company
Ricardo Villadiego is the founder of the Miami-based company Lumu. The company operating in the cybersecurity space focuses on helping enterprise organizations illuminate threats and isolate confirmed instances of compromise. The company leverages the principles of Continuous Compromise Assessment™. It developed a powerful closed-loop, self-learning solution aiding security teams to accelerate compromise detection, gain real-time visibility across their infrastructure. It further closes the breach detection gap from months to minutes.
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