Adlumin Snags $70M to Boost Security for Mid-Market Firms

Adlumin, a Washington DC startup working on technology to boost security for mid-market firms, has banked $70 million in new financing.

The substantial Series B funding round was led by SYN Ventures, a Florida-based venture capital firm placing early-stage bets in cybersecurity startups. The company said First In Ventures, Washington Harbour Partners, and BankTech Ventures also took equity positions.

The latest financing brings the total raised by Adlumin to $83 million and stamps the company as a key player in the security operations and MDR (managed detection and response) category.

Adlumin is targeting small and mid-market organizations with an enterprise-grade offering with simplified pricing  “to defend against the same threats targeting the world’s largest businesses and government organizations.”

The company has found customers among smaller law firms, banks, financial services firms, schools, manufacturers, and healthcare providers that have been overlooked by cybersecurity vendors.

Adlumin’s security tooling, sold though one license and one platform, includes SIEM, vulnerability scanning, threat intelligence, UEBA threat hunting, honeypots, automated incident response and forensics, darknet exposure monitoring, compliance reporting and monitoring.

“[The] Adlumin platform is specifically built to enhance collaboration with service providers who can deliver the type of expert support that is difficult for organizations to hire and retain on their own,” the compahy said.

Advertisement. Scroll to continue reading.

“Adlumin offers its own managed detection and response (MDR) services that provide customers with 24×7 human insights, threat hunting and trusted support. Adlumin also works closely with managed service providers (MSPs) and managed security service providers (MSSPs) who use its platform to serve their customers,” Adlumin added.

Related: Coro Raises $75 Million for Mid-Market Cybersecurity Platform

Related: Microsoft Defender Takes Aim at Mid-Market

Related: How Mid-market Enterprises Can Protect Against Ransomware Attacks