Lumu – the creators of the Continuous Compromise Assessment cybersecurity model that enables organizations to operate cybersecurity proficiently – recently announced it has closed a $30 million Series B round led by Forgepoint Capital, with participation from existing investors BIP Ventures, Exceptional Capital, and SIMMA Capital. Forgepoint Capital Managing Director Leo Casusol will join the Board of Directors. The new funding round brings the total funding raised to $38 million.
As point solutions proliferate, enterprises and MSPs are left to navigate a patchwork of technologies – an unfocused mix that is ineffective at stopping attacks. And ransomware payouts are on track to reach almost $900 million, the second highest year ever amid high-profile exploits including MOVEit. Lumu continuously monitoring network traffic in real-time, providing unified visibility across all assets (endpoints, servers, clouds, OT, and IoT)— taking a simpler and streamlined approach that empowers analysts to more effectively identify and automate responses to network threats using their current security stacks. So security and risk professionals can minimize the impact of cybercrime in organizations of all sizes and verticals.
The new funding round has been earmarked to expand the company’s global sales and go-to-market strategy. And Lumu will ramp up its research and development efforts to further advance differentiation in a market historically dominated by ineffective legacy tools.
Lumu is founded and led by Ricardo Villadiego, who is a successful second-time founder and part of the SoftBank Opportunity Fund’s community of visionary Black, Latinx, and Native American entrepreneurs.
KEY QUOTES:
“Zero trust deployments have been challenged with limited visibility into threat actors affecting users beyond the traditional defenses. Lumu brings these attack vectors to light, easily integrates with other defense 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.”
- Leo Casusol
“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.”
- Ricardo Villadiego, founder and CEO of Lumu
