ANN ARBOR – Cybersecurity provider Blumira announced this week it recently secured $10.3 million in a series A funding round.
The firm, which specializes in automated threat detection and response technology for the mid-market, was founded in 2018 by IT security professionals Steve Fuller and Matthew Warner.
Fuller, Blumira’s CEO, said he and Warner had worked together in security services and decided to start their own company to better meet rising security needs of organizations and companies.
“Ransomware is a big eye-opener and should be a concern of companies of all sizes,” said Fuller. “Everyone out there is a target, and if you have infrastructure that you rely on, you are at risk.”
The latest financing round was led by new investor and early-stage venture capital firm Mercury Fund. Other new investors include Ten Eleven Ventures and strategic angels and former Duo Security and Zendesk executives Zack Urlocker and Jim Cyb.
Existing investors who participated in the series A round include Array Ventures, M25 and angel investor and co-founder of Duo Security Jon Oberheide.
“We’re delighted to have Jon’s support,” said Fuller. “He’s a world-class security practitioner who has had a tremendous amount of success despite his young years. So, just Jon’s validation that Blumira is onto a good idea is very inspiring to us.”
Blumira’s clients include Duraflame, Merit Network, Fanuc Robotics, Greenleaf Trust and Lawrence Technological University.
With the latest investment, Blumira’s total capital raised stands at $12.9 million.
““It’s fuel,” said Fuller. “It’s going to allow us to continue to grow and progress and do that at a fast rate of speed. Most companies don’t get to this stage.”
Fuller said the company has doubled its workforce locally over the past year to 40 employees and hopes to see the same amount of growth over the next year.
“Ann Arbor has become a great tech ecosystem,” he said. “There’s lots of access to talent, lots of great other companies to collaborate with and to share ideas. So, as we look at the profile of the team members that we’re looking to attract, Ann Arbor being a vibrant, cool place is attractive to tech people.”
Blumira is currently hiring a number of positions, including director of finance, head of product management and director of customer experience. To see available job openings, visit www.blumira.com/careers.