The state of Michigan continues to grow in startup investment capital – a 250% increase over the past five years (from $577 million to $1.4 billion), according to a 2018 PitchBook report. With ties to the University of Michigan and countless startup incubators, the Midwest has kept its talent close-by, while attracting more of the best from each coast.
Renaissance Venture Capital Fund invests in top tier venture funds around the country, using their network to bring over $1.7 billion of capital and major corporation connections to startups in the state of Michigan.
Formed in 2008 in partnership with the Business Leaders for Michigan, Renaissance includes major corporate investors such as Meijer, DTE Energy, Blue Cross Blue Shield, La-Z-Boy, Barton Malow, AAA, Whirlpool, Ford, Masco, and Roush, as well as foundations, university endowments, and public and private pension funds.
We believe that, by providing much needed capital and building bridges between venture capital firms, young innovation companies, and established businesses, we can achieve both strong investment returns and economic growth. – Renaissance
At over $200 million in size, Renaissance helps attract venture capital to Michigan while providing investor connections to innovation around the nation. Part of that initiative is assembling and distributing a semi-annual “hotlist” of the top 50 early-stage companies, recommended by Renaissance partners – that includes universities, incubators, accelerators, seed funds, angel networks, etc.
This list, sorted by sector and stage, is sent to both Renaissance-invested venture capital funds as well as to other investor partners around the country. Every early-stage company on the hotlist is raising a venture round sometime between now and the next 12-18 months.
Many of the companies on the hotlist fit into a diversity of industries, including information technology (IoT, enterprise), healthcare (biotech/pharma, medical device), education tech, financial services tech and manufacturing. As an innovator of an easy-to-use threat detection and response solution, Blumira is excited to be included on the Renaissance Venture Capital’s 2020 Hotlist.
In 2018, Blumira was created with a focus on ideal defensive security – it was clear from the increasing breach headlines that security needed to be handled differently, as offensive security was too successful, even with little effort. The Security Information and Event Management (SIEM) market will reach an estimated 5.5 billion by 2025, up from $4.5 billion in 2020, according to MarketsandMarkets research.
Another research firm, Research and Markets, forecasts a CAGR (compound annual growth rate) of 9.87% during 2019-2024, with growth attributed to regulatory compliance and concerns over advanced persistent threats.
But so many of those SIEM solutions are complex and prove too costly/resource-intensive to set up and maintain for companies without large, dedicated security teams. Getting any security value out of a legacy SIEM is difficult without spending the time to parse logs and alert on detections.
Blumira’s modern SIEM extends far beyond the capabilities of traditional SIEMs, combining automated threat detection and response into a single powerful platform that easily integrates with your existing technology. Our focus on usability and approachability allows for scalable security for organizations of all sizes, not just enterprise-level companies. Blumira’s platform is easy to deploy and manage, cutting through the noise of alerts with prioritized detections and automated response, to reduce the burden on IT/security administrators.