Blumira today announced it raised a $10.3 million Series A financing round. The Ann Arbor-based cybersecurity company says the capital will be used to expand its product offering, double its headcount to 80 employees and grow its partnership program with managed service providers.
The company, founded in 2018, seeks to provide enterprise-level security to medium-sized businesses through turn-key, cloud-based solutions. Blumira’s solution upends the traditional security information and event management (SIEM) market with a powerful suite of tools designed specifically for mid-market companies that’s relatively more affordable. According to Blumira, its product deploys quickly and gives these companies the security and threat monitoring ability of tools used by giant corporations.
With the new funding, the firm has raised $12.9 million since its founding in 2018. New investor Mercury led Blumira’s Series A, with managing director Aziz Gilani joining Blumira’s board as a director. The Series A also included participation from Ten Eleven Ventures, enterprise angles and existing investors M25, Array Ventures and Duo
Security co-founder and angel investor Jon Oberheide.
“Having additional capital behind us accelerates our velocity and ability to execute our vision of democratizing the detection and response market,” said Steve Fuller, co-founder and CEO at Blumira. “We’ve built incredible momentum in just a few short years, and we’re thrilled to have the support of world-class investors as we work to make security operations simple, automated, affordable and accessible to organizations of all sizes.”
