Adlumin – a security operations platform and managed detection and response (MDR) provider keeping mid-market organizations secure – recently announced that it closed $70 million in Series B funding led by SYN Ventures, with participation from First In Ventures, Washington Harbour Partners, and BankTech Ventures. This funding round brings the company’s total raised since inception to $83 million.
This funding round will accelerate Adlumin’s growth and meet demand for the vast number of small and mid-market organizations that need an enterprise-grade solution with simplified pricing to defend against the same threats targeting the world’s largest businesses and government organizations. And Adlumin’s ability to meet this demand through its modern platform, expert services, and channel-first approach propelled the company to rank among the top 10% of America’s fastest-growing private companies.
In the U.S., 200,000 middle market businesses employ about 48 million people and represent one-third of the private sector GDP, according to The National Center for the Middle Market. And the data these organizations must protect is just as sensitive, and the threats they face are just as severe as their larger counterparts. Still, they have not had access to the same cybersecurity skills or resources.
Adlumin’s patented security operations platform offers organizations everything they need for sophisticated, enterprise-grade security. This includes SIEM, vulnerability scanning, threat intelligence, UEBA threat hunting, honeypots, automated incident response and forensics, darknet exposure monitoring, compliance reporting, and monitoring, etc., through one license and platform. As a modern, cloud-based, and flexible platform built to be the command center for security operations, Adlumin is pre-integrated with solutions that augment its capabilities and can be easily integrated with others. Plus, this comprehensive approach makes cybersecurity simple and cost-effective for mid-market organizations mired by the sprawl of different point solutions.
To address the challenges organizations face staffing their cybersecurity teams with qualified professionals, Adlumin’s platform is specifically built to enhance collaboration with service providers who can deliver expert support that is difficult for organizations to hire and retain independently. Adlumin offers managed detection and response (MDR) services that provide customers with 24×7 human insights, threat hunting, and trusted support. And Adlumin works closely with managed service providers (MSPs) and managed security service providers (MSSPs) who use its platform to serve their customers.
Adlumin delivers end-user organizations unmatched visibility into their security posture regardless of who runs the platform. And customers always have complete real-time access to the Adlumin platform irrespective of whether it is being run themselves or others are running it for them. This means they can see why an alert was identified and closed, access investigation data, receive reporting and threat intelligence, generate compliance reports on-demand in a single click, and much more.
More recently, new solutions Adlumin unveiled to address the security needs of middle-market organizations include a unique and subscription-based incident response service and new financial protections, including a no-cost warranty and discounted cyber insurance policies.
KEY QUOTES:
“Organizations like law firms, banks, financial services firms, schools, manufacturers, and healthcare providers are the engines for economic and job growth and the backbone of the economy. But going beyond basic cybersecurity at these organizations has been generally overlooked or sadly out of reach. Adlumin is leading the charge to change that. With an extremely healthy and fast-growing business that’s meeting the needs of the middle market, this financing will help put Adlumin on an even steeper growth trajectory.”
— Jay Leek, managing partner at SYN Ventures
“For anyone charged with protecting sensitive data, seeing an uptick in new data breaches in the news every day will definitely keep you up at night. It’s become increasingly clear that hackers don’t discriminate, so we needed a better security solution than what was previously available. Working with Adlumin has given us peace of mind like we’ve never had before because we know we’re supported by a team and technology platform with capabilities that are on par with any big business.”
— Ryan Blake, VP, Director of Information Technology at Blue Ridge Bank
“With a significant cybersecurity skills gap, hiring the right people is an expensive, challenging and sometimes impossible task for small and mid-sized organizations who are competing with big government and businesses for talent. This is why empowering service providers – whose expertise can be multiplied across several organizations – will be essential to securing mid-market organizations, and why we built a platform that does exactly that. With this funding, we’ll continue expanding and strengthening our channel partnerships that are so critical to scaling and reaching the mid-market, and will always be innovating to better address our partners’ and end users’ evolving needs.”
— Robert Johnston, founder and CEO of Adlumin
