SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Lumifi, a cybersecurity industry leader, is embarking on a strategic expansion plan by targeting cybersecurity firms. This strategic direction gains its foundation from Lumifi's recent landmark acquisition, Castra, valued at $14 million, which further fortifies the SOC Visibility Triad, a concept initially introduced in a Gartner® research report titled "Apply Network-Centric Approaches for Threat Detection and Response"1 We believe that Lumifi has followed this path diligently followed for 15 years.
By integrating top-tier cybersecurity analysts with cutting-edge systems, Lumifi steadfastly maintains its gold standard in safeguarding its esteemed clientele. This development comes in the wake of Lumifi's $30 million acquisition of Datashield from ADT in April 2022. The company is now primed to secure 2-4 more acquisitions within the next 6 to 18 months, bolstering its position in the cybersecurity landscape.
According to Gartner®, “The renewed focus on the human element continues to grow among this year’s top cybersecurity trends,” says Gartner Senior Director Analyst Richard Addiscott. “Security and risk management leaders must rethink their balance of investments across technology, structural, and human-centric elements as they design and implement their cybersecurity programs.” 2
Each day brings new threats and challenges, further compounded by artificial intelligence (AI). Cybercriminals have become more sophisticated, and thus, the detection and mitigation of security threats must be thorough. Lumifi’s approach to cybersecurity integrates system, network, and device monitoring with human expertise. The company’s advanced security framework is monitored 24 hours a day/7 day a week by a team of U.S.-based cybersecurity analysts and former military and DoD experts.
Lumifi/Datashield is the pioneer in managed detection and response (MDR), and has established itself as a prominent industry leader. With over 15 years of experience, initially focusing on packet captures and forensics, Lumifi/Datashield gained recognition in its early stages from Lumifi/Datashield for their instrumental role in shaping the current MDR landscape. Today, Lumifi stands as a premier outsourced service, dedicated to equipping organizations with specialized threat-hunting capabilities and swift responses to emerging security risks.
“We are experiencing increasing demand for our comprehensive and proactive MDR services,” said Michael Malone, CEO of Lumifi. “Keeping our customers out of harm’s way 24/7 requires the perfect combination of breakthrough yet highly reliable and proven technology solutions and qualified human expertise. Now, our next steps for expansion necessitate finding and acquiring the best MDR companies that complement and expand upon all that we are presently offering.”
While many cybersecurity solutions necessitate regular oversight, Lumifi sets itself apart by providing a cutting-edge Managed Detection and Response (MDR) service. This unique approach synergizes the capabilities of our Security Operations Center with our in-house developed platform, ShieldVision™. Recognized as a top-tier Security Orchestration Automation and Response (SOAR) solution, ShieldVision™ stands out in threat detection, proactive hunting, and immediate automated interventions. As Lumifi pursues acquisitions of firms like Castra, the company’s focus is not just on expanding our tech arsenal, but also on deepening it’s engineering expertise.
David Norlin, CISO at Lumifi, notes, “Our strategic partnerships with technology frontrunners like Palo Alto Cortex, Extrahop, and Exabeam highlight our dedication to pushing boundaries and strengthening our industry leadership.”
Lumifi's growth strategy has garnered unwavering support from its investors, who eagerly anticipate expanding its technology stack and human capital. The recent success of the Castra acquisition has further fueled investor excitement as they eagerly look forward to Lumifi surpassing customer expectations across diverse industries, including Fortune 500 companies, prominent government agencies, and discerning legal firms. Castra recently was recognized for the second year in a row as one of CRN’s fastest growing technology vendors in North America.
“We are amazed about the high caliber of protection technology and services provided by Lumifi,” said Chris Graber, Managing Director, Corporate Investments & Acquisitions at BOK Financial. “They have a winning combination of human and cybersecurity integrated solutions that effectively detect and thwart cyberattacks. The Lumifi cybersecurity services are resonating with top-tier clients.”
Staying ahead of cybercriminals is no easy task, but Lumifi continues to evolve and innovate. The strategic initiative to acquire new MDR partners is another game-changing move that further strengthens Lumifi’s capabilities to provide unparalleled defense of critical customers.
“Lumifi is defining the future of cybersecurity,” said Frank Mora, Senior Partner of HCAP Partners. “The company is well positioned to acquire additional MDR partners and will fortify their customers with the best possible system, network, and device monitoring capabilities.”
For cybersecurity firms looking to explore collaborative opportunities and consider becoming a part of the Lumifi family, contact Matthew Decker at mdecker@lumificyber.com. We are eager to engage with partners who share our vision and commitment to excellence.
1 Gartner, “Top Strategic Cybersecurity Trends for 2023,” Lori Perri, published April 19, 2023.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
2 Gartner, “Applying Network-Centric Approaches for Threat Detection and Response,” Augusto Barros et al., March 18, 2019, ID G00373460
About Lumifi
Lumifi, headquartered in Scottsdale, is a vanguard in the cybersecurity industry, dedicated to protecting digital assets and fortifying cyber defenses for businesses across the board. With a team of experts and state-of-the-art technology, Lumifi is shaping the future of cyber safety.
About SkySong, The ASU Scottsdale Innovation Center
SkySong, The ASU Scottsdale Innovation Center is one of the premier economic engines in the Valley of the Sun. The project’s success is a direct result of a focus on innovation and technology that attracts companies ranging from some of the world’s best known brands to one-or two-person startups.
Copyright ©2023 Lumifi. All rights reserved. Lumifi and ShieldVision are trademarks or registered trademarks of Lumifi. Trademarks of other companies mentioned appear for identification purposes only and are property of their respective companies.
