Aside from the state, other participants in this round of funding included Core Capital Partners, New Enterprise Associates, as well as a “broad collection of angel [investors] and other types of institutions,” CEO Josh Stella told Tech Cocktail. Luminal is a cybersecurity startup that is working on creating new solutions for the current deficiencies in computing architectures. So secret, in fact, that only a handful know about the technologies that they’re developing. “What I can tell you is that we’re using new capabilities – things you couldn’t do before – to provide native security to applications, simplified operations, and declarative control.” Currently, the company is continuing development on its first product, Fugue, a cybsersecurity tool for cloud computing. It’s currently in private beta and is expected to go into public beta later this year. According to Stella, this round of funding will go toward additional research and development, as well as toward adding engineers, designers, and researchers to their 11-person team; he hopes to put a lot of additional focus on product development, and grow the team to about 20 people by the end of the year. In addition to the state grant, Luminal was one of the first startups to take advantage of the state’s Cybersecurity Investment Incentive Tax Credit. The company has recently been named one of the top three finalists in the cybersecurity category of the InvestMaryland Challenge.
