Leading IT asset discovery platform partners with Point72 Ventures and GGV Capital to fuel business expansion
SAN JOSE, Calif.–(BUSINESS WIRE)–November 10, 2021–
Lucidum, Inc., the leading IT asset discovery platform, today announced that it secured $15 million in Series A funding. The investment round was led by Point72 Ventures and included investments from GGV Capital, Silicon Valley CISO Investments, and leading angel investors. Lucidum develops software that allows enterprises to eliminate blind spots across cloud, security, and IT operations using machine learning to discover, triangulate, and identify all assets.
“Our business has really ramped up this year as increasingly more organizations realize the necessity of cyber asset attack surface management (CAASM) as an integral part of their tech stack, eliminating the need for outside agents and scanners,” said Joel Fulton, Lucidum’s co-founder and CEO. “The security market has always been littered with asset management attempts, but none have solved the problem completely for large enterprises.”
“As the amount of devices, users, and data continues to grow, enterprises are facing an increasingly complex cybersecurity landscape, requiring a more sophisticated and accurate foundation of asset knowledge so they can better understand their attack surface and stay secure,” said Noah Carr, partner at Point72 Ventures. “Lucidum has created an advanced solution that gives customers a real-time view of their assets by automatically detecting and managing data across security and IT operations. We are grateful to partner with the Lucidum team and thrilled to see how they continue to grow in the coming year.”
Since announcing its first outside funding round in 2020, the company has built the premier solution for key challenges that IT and security departments face. Common use cases Lucidum solves for its customers include identifying unknown assets that access confidential information that is open to the public, finding unmanaged assets that are vulnerable, saving IT costs by identifying and stopping idle instances in the cloud, identifying how confidential data has been accessed, by whom, and whether it’s been exfiltrated from the system.
The company also invested in key areas of its business by expanding its sales and marketing leadership with the addition of a VP of Sales and Head of Marketing. The latest round of funding will fuel Lucidum’s business expansion plans including enterprise sales, business development, and marketing to extend its leadership position.
“We look for founders who know how to solve the most pressing challenges in cybersecurity and Lucidum is a great example of that. Lucidum’s proprietary technology sheds light on unknown threats, arming companies with information to protect and defend their assets,” said Oren Yunger, investor with GGV Capital and Lucidum board member. “Customers receive colossal value from asset discovery, which is demonstrated in Lucidum’s strong momentum. We look forward to continuing to be a part of the company’s rapid growth.”
The Lucidum platform employs patent-pending machine learning against a massive volume of pre-existing data to triangulate and provide context about known and unknown IT assets such as computers, mobile devices, cloud environments, IoT devices, microservices, and more. Through a growing list of integrations, including the most popular tools and platforms already in use by enterprise IT organizations, and an open API, the Lucidum platform feeds IT operations, security, cloud, compliance, finance, and other core disciplines with critical information about the assets it identifies.
To learn more about Lucidum, please visit: https://lucidum.io/series-a-funding
Lucidum is the IT asset discovery company that eliminates blind spots across cloud, security, and IT operations. Fortune 500 companies rely on the Lucidum platform and its patent-pending machine learning to discover, triangulate, and identify all assets – even those previously unknown – delivering visibility essential to truly secure, manage, and transform your enterprise. For more information, visit lucidum.io.
About Point72 Ventures
Point72 Ventures is a global venture capital strategy led by a diverse set of domain experts with the capital and mandate to lead rounds through all stages of a company’s growth, from idea to IPO. The team invests in founders with bold ideas who use the latest technologies to drive transformational change across industries. Point72 Ventures offers entrepreneurs access to expertise and insights, executive and technical talent, and hands-on support. With offices in the U.S. and Europe, Point72 Ventures is an affiliate of Point72, the global asset manager founded by Steven A. Cohen. For more information, visit p72.vc.
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