Blumira, an Ann Arbor-based tech company that provides cybersecurity solutions, has announced that it raised $10.3 million in a Series A funding round.
The latest round was co-led by new investor Ten Eleven Ventures and early-stage venture capital firm Mercury Fund.
Former Duo Security and Zendesk executives Zack Urlocker and Jim Cyb also participated. Existing investors include Array Ventures, M25, and Jon Oberheide, co-founder of Duo Security, also joined this round.
Founded in 2018 by IT security professionals Matthew Warner and Steve Fuller, Blumira develops automated threat detection and response technology. According to the company, its system is unmatched by any other cybersecurity solution on the market.
Steve Fuller, the CEO of Blumira said that he and his partner Warner decided to start their own company aiming to better meet the increasing security needs of organizations and companies.
Talking about the company’s product, he said,
“Ransomware is a big eye-opener and should be a concern of companies of all sizes. Everyone out there is a target, and if you have infrastructure that you rely on, you are at risk.”
By creating solid security, the Internet is a safer place for everyone and their data.
Duraflame, Merit Network, Fanuc Robotics, Greenleaf Trust, and Lawrence Technological University are currently participants in the expanding list of Blumira’s clients.
With the new capital, the tech company has raised a total of $12.9 million through its fundraising rounds. It will continue fueling and speed up the company’s growth while most other companies in the space do not get to this stage.
Blumira’s team consists of experts, engineers, business strategists, innovators, and data analysts. Over the past year, the company has doubled its local workforce to 40 employees and plans to develop the same amount of growth over the next year.
The company is now seeking to fill several positions related to engineering, product, and security.