Ann Arbor cybersecurity startups continue to rake in new investments despite uncertainty from the ongoing pandemic and resulting economic devastation.
Blumira Inc., which focuses on the detection and response aspect of cybersecurity, has closed on a $2.6 million funding round led by Chicago-based early-stage venture fund M25, and Array Ventures out of San Francisco.
“We are dedicated to providing real security value while continuing to grow the local Midwest infosec community,” Blumira CEO Steve Fuller said in a statement. “Our mission is to give customers a way to defend against the latest attacks — even if they don’t have a SOC (security operations center).”
The new “seed” capital will allow the startup to continue scaling its operations during a time where its seeing increased demand due to people working from home on sometimes less secure networks and devices.
“Remote work has resulted in more potential for breaches than ever before, as organizations struggle without security resources and visibility,” Mike Asem, partner with M25, said in a news release. “Blumira integrates with any existing service, deploys in a matter of hours and provides immediate value by identifying threats and automating remediation. We’re excited that this effort is led by a first-class team and excellent advisors.”
The company points to research it has conducted showing that attacks stemming from Remote Desktop Protocols — allowing IT teams remote access to computers — have been on the rise since the start of the COVID-19 pandemic that has kept more people working at home.
The company currently has 17 employees and under $10 million in revenue, said Patrick Garrity, Blumira’s vice president of operations.
Garrity and others at Blumira have previously worked at other growing Ann Arbor cybersecurity firms like Duo Security, now owned by Cisco, and Censys Inc.
Censys last week closed on a $15.5 million Series A funding round led by out-of-state investors.