Lucidum’s Asset Discovery Platform Raises $15M to Help Cybersecurity Professionals
“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.
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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.
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