Lumu, a Florida-based Continuous Compromise Assessment cybersecurity company, has now secured $7.5 million in a Series A funding round.
The round was backed by the SoftBank Group Corporation SB Opportunity Fund and Panoramic Ventures.
Tom Noonan, the CEO of the ISS Former and Palo Alto Network former CEO Lane Bess, are also a part of the funding round.
Lumu also announced that Dr. Paul Judge, MD of the Panoramic Ventures and a member of the SB Opportunity Fund Investment Committee, will now going to join the company Board of Directors team.
The company, as of now, has plans to use the new funds for sales and marketing initiatives and additional research and development.
Lumu is founded by Ricardo Villadiego, who previously founded Easy Solutions, which was acquired by Medina Capital and BC Partners in 2016. It is a cloud-based solution that collects and standardizes metadata from across the network, which includes the Network Flows, DNS Queries, access logs from the perimeter proxies and firewalls, and spam box filters, and then applies AI to correlate threat intelligence from these disparate data sources to isolate confirmed points of compromise.
“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,” said Paul Judge. “SoftBank’s commitment to fueling the growth of black, Latinx and other minority-owned companies remains a priority.”
“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,” said Ricardo Villadiego, Founder & CEO of Lumu. “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.”