- Lumu — the creators of the Continuous Compromise Assessment cybersecurity model — announced recently that it has closed its Series A round of funding for the amount of $7.5 million. These are the details.
Lumu — the creators of the Continuous Compromise Assessment cybersecurity model — announced recently that it has closed its Series A round of funding for the amount of $7.5 million. And the funding round was co-led by SoftBank Group Corp’s SB Opportunity Fund and Panoramic Ventures.
The proceeds from the new round of funding will serve as growth capital for sales and marketing initiatives and additional research and development. And 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.
Lumu is known as being a cloud-based solution that collects and standardizes metadata from across the network, including DNS queries, Network Flows, access logs from perimeter proxies and/or firewalls, and spam box filters, and then applies Artificial Intelligence to correlate threat intelligence from these disparate data sources to isolate confirmed points of compromise. And Lumu was founded by cybersecurity veteran Ricardo Villadiego who previously founded Easy Solutions which was acquired by BC Partners and Medina Capital in 2016. He held positions at IBM, Internet Security Systems and Unisys Corporation.
Since officially launching at the RSA Conference in February 2020, over 1,300 customers across a range of industries and geographies have signed up for Lumu’s offering and adopted its model of Continuous Compromise Assessment. And during this time, the Lumu Platform has analyzed more than 55 billion metadata records and detected more than 11 million adversarial contacts.
ISS former CEO Tom Noonan and Palo Alto Networks former CEO Lane Bess were also part of the investment round.
“We believe that Lumu will help businesses change how they operate cybersecurity by putting them in control of the impact of cybercrime in their organizations. Ricardo is a proven entrepreneur with a track record of building and operating disruptive companies in the cybersecurity space. SoftBank’s commitment to fueling the growth of black, Latinx and other minority-owned companies remains a priority.”
— Paul Judge
“Despite billions of dollars per year being spent to secure corporate networks, attackers continue to find ways to penetrate their defenses and worse still, often remain undetected inside the network for months or even years. Lumu’s Continuous Compromise Assessment model flips the conventional security model on its head by assuming that the network is compromised and forces you to prove otherwise. These industry leading venture firms’ investment in Lumu validates the imperative need for organizations to measure compromise continuously and intentionally as the core initiative to improve their cybersecurity posture.”
— Ricardo Villadiego, Founder & CEO of Lumu