Cybersecurity startup Lumu scores $7.5m in Series A funding

Lumu, which has created a continuous compromise assessment cybersecurity model, has netted $7.5m in its Series A funding round.

The investment was co-led by SoftBank Group Corp’s SB Opportunity Fund and Panoramic Ventures.

With the fresh funds, the FinTech hopes to increase its sales and marketing efforts. Additionally, the company will increase its research and development initiatives.

The cybersecurity company launched in February 2020 and has already accumulated 1,300 customers across a range of industries and geographies.

Based in Miami, the company gives real-time visibility across infrastructure.

Its cloud-based platform leverages AI to analyse a range of data to build in-depth threat intelligence to protect a company from attacks and vulnerabilities. The platform assess metadata from across the network, including DNS queries, network flows, access logs and spam box filters.

Lumu founder and CEO Ricardo Villadiego said, “Despite billions of dollars per year being spent to secure corporate networks, attackers continue to find ways to penetrate their defences 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.

“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.”

In line with the deal, Panoramic Ventures managing partner Paul Judge will join the Lumu board of directors.

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