Lumu, creators of the Continuous Compromise Assessment cybersecurity model that enables organizations to operate cybersecurity proficiently, 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 funding from the investment 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.”
Ransomware payouts are on track “to reach almost $900 million, the second highest year ever amid high-profile exploits including MOVEit.”
Lumu continuously monitors network traffic “in real time, providing unified visibility across all assets (endpoints, servers, clouds, OT and IoT)- taking a simplified and streamlined approach that empowers analysts to more effectively identify and automate responses to network threats using their current security stacks.”
As a result, security and risk professionals “can minimize the impact of cybercrime in organizations of all sizes and verticals.”
Casusol said:
“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.”
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.”
The new round is earmarked “to expand the company’s global sales and go-to-market strategy.
In addition, Lumu will ramp up its research and development efforts “to further advance differentiation in a market historically dominated by ineffective legacy tools.”
