Blumira, a cybersecurity company that specializes in automated threat detection and response technology, has raised $10.3 million in a Series A funding and is now building out an MSP partner program.
Mercury led the Series A round. Blumira has now raised $12.9 million since launching the business.
In addition to building out an MSP partner program, Blumira will double its headcount and expects to have 80 employees on staff in the next year, the company stated. Key hires will iunclude a head of product management, director of customer experience and director of finance, the company indicated.
A Closer Look at Blumira
Blumira, led by CEO Steve Fuller, offers a cloud-based security information and event management (SIEM) platform that enables organizations to detect, investigate and respond to indicators of ransomware and other unknown cyber threats, the company said.
The company claims that it allows organizations to identify and respond to cloud security threats five times faster than the average SIEM provider.
Blumira also provides remediation playbooks and response workflows designed to help IT professionals stop cyberattacks.
Cloud SIEM: Crowded Market
Disrupting traditional on-premises SIEM software sounds like a temping, growing cybersecurity business opportunity. But the cloud-based SIEM market also is crowded with fast-growing vendors and associated tools.
For instance, SUMO Logic launched a successful IPO earlier this year and has been building relationships with MSSPs. Also, Google Chronicle and Microsoft Azure Sentinel are gaining momentum with some MSSPs. Moreover, nearly 70 MSSPs have joined the Microsoft Intelligent Security Association as of August 2021.