Gravwell, a startup based in Coeur d’Alene, has secured $3 million in seed funding to expand its enterprise data fusion and analytics platform.
The funding round counted with participation from Next Frontier Capital, Gula Tech Adventures, Kickstart Fund, and Revolution’s Rise of the Rest, some of the most important seed-stage venture capital firms. Les Craig, Partner at Next Frontier Capital, referred to the firm’s decision to participate in the round by stating:
“Gravwell is the next generation solution in data fusion for all of the right reasons. In an industry known for holding users back through prescriptive limits and cost prohibit pricing, usually due to underlying technical limitations, Corey and his team deliver tremendous value to customers by enabling them to collect and analyze the entirety of their data – without limits. We couldn’t be more excited about Gravwell’s people, their product, and the prospect of this investment to disrupt an industry.”
Craig, who co-founded RedOwl Analytics, will be joining Ron Gula of Tenable, and John Matherly of Shodan in their addition to Gravewell’s governance board, which already includes cybersecurity experts with plenty of experience in getting startups off the ground.
Gravwell was founded with the mission of empowering “teams to ingest everything and investigate anything — all without limits”. The capital will help the startup to accomplish this mission by escalating its customer success and sales operations as demand from Fortune 1000 clients continues. Corey Thuen, Gravwell CEO, said about this success:
“We are incredibly proud of the value that we deliver for our customers. There are very few tools that actually scale past 40 terabytes per day, and no one is collecting all the data they want. On our platform, they will never have to make a decision about which data to use or lose, it is ALL their data. We are thrilled that our investors at Next Frontier, Kickstart, and Rise of the Rest share our vision to unleash our customers’ data analysis capabilities in a marketplace that is, quite frankly, built to hold them back. With their support, we will continue to scale the impeccable customer support operations our customers know, trust, and deserve.”
Gravwell is aiming to become a major player in the industry by providing enterprises with unlimited data ingestion and retention while also facilitating its fusion and analysis. By harvesting these capabilities, Cybersecurity teams can better assess data and react to threats, taking a proactive approach and reducing the risk of losing millions of dollars in the process.
With the big data analytics market being expected to reach $103 billion by 2023, enterprises are struggling to keep up with the logging and analysis of data on a large scale as existing solutions fail to scale at the necessary rate. This is especially worrisome for the cybersecurity industry at a time when the risk of cyberattacks continues to rise with their cost expected to reach more than $10.5 trillion by 2025.