Blumira, a provider of automated threat detection and response technology, has raised $10.3m in its Series A round, which will help it bolster its technology innovation.
Mercury, an early-stage venture capital firm aimed at software companies in Middle America, served as the lead investor. Other commitments to the round came from first time Blumira backers Ten Eleven Ventures, former Duo Security COO Zack Urlocker and former Duo Security SVP Jim Cyb.
The round also saw participation from several existing Blumira backers, including M25, Array Ventures and Duo Security co-founder and angel investor Jon Oberheide.
This funding burst will empower Blumira to further the innovation of its technology and further the distribution of its technology among mid-market companies and cloud-based technology. Furthermore, funds will be used to hire more staff, with plans to reach 80 employees within the next year.
Funds have also been earmarked to grow its partnership programme with managed service providers by enabling them to grow their security practice and expand its customer base.
Founded in 2018, the company offers enterprise-level security to the mid-market via cloud-based technology that helps teams quickly detect, investigate and respond to ransomware and other online threats.
As part of the deal, Mercury managing director Aziz Gilani has joined Blumira’s board of directors.
Mercury managing partner Aziz Gilani said, “The surge in recent high-impact cybersecurity attacks continues to prove that all companies need adequate and accessible security protection.
“The need for modern, simplified security tools has never been more compelling, and Blumira is leading the way in solving enormous and unique cybersecurity challenges, especially for the mid-market. This laser-focused team has incredible talent and we look forward to actively supporting their vision.”
Following the close of the deal, the RegTech company has raised a total of $12.9m in funding. Prior to this round, the company collected $2.6m in 2020, which was led by M25.
Blumira co-founder and CEO Steve Fuller said, “Having additional capital behind us accelerates our velocity and ability to execute our vision of democratizing the detection and response market.
“We’ve built incredible momentum in just a few short years, and we’re thrilled to have the support of world-class investors as we work to make security operations simple, automated, affordable and accessible to organizations of all sizes.
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