Money Moves: DC cybersecurity firm Adlumin raised $25M in a Series B

Plus, Black Girl Ventures launches a small business grant program and GlobalWonks is rebranding as Enquire.ai.

Adlumin CEO Robert Johnston.

(Photo via @adlumin on Twitter).

In a Series B round led by SYN Ventures and First In Ventures, DC managed security firm Adlumin has raised $25 million. The round also included strategic investments from the Independent Community Bankers of America, BankTech Ventures and Leawood Venture Capital, among others.

The funding, Adlumin said, will help continue its growth and be invested back into its products and channel partners. According to a company statement, it has added hundreds of customers for its technology and landed two patents for its serverless data analytics architecture. Last year, the company also raised $6 million in a Series A.

“This funding is a renewal of Adlumin’s commitment to perfection on behalf of our partners and customers,” said Robert Johnston, CEO at Adlumin in a statement. “Armed with new capital, we will be making massive investments in our channel program, enabling our partners to make an even bigger impact by delivering our leading security analytics technology to customers across the globe.”

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GlobalWonks, an AI-based business intelligence and research firm headquartered in DC, has relaunched with a new investment.

Armed with a new $5.5 million funding round led by investor Uzabase with participation from Teneo Ventures and Blu Ventures, GlobalWonks is now called Enquire AI. According to Enquire, the investment will mean a stronger global presence and will more accurately reflect its product’s ability to be integrated in software platformzs as an Application Programming Interface.

“Enquire.ai is committed to helping companies become knowledge-efficient,” said Cenk Sidar, cofounder and CEO in a statement. “This rebrand allows us to unlock the full potential of enterprises and professionals by providing cutting-edge AI-powered technology to leverage both in-house or external expertise.”

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Alexandria, Virginia’s Black Girl Ventures, which funds Black and brown women-founded businesses, has partnered with Reimagine Main Street, a DC-based initiative for small businesses to create a grant program.

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The Backing Black Business program, which is also partnered with the US Black Chambers, Walkers Legacy and received financial support from Meta, intends to award $2 million to over 200 women entrepreneurs. The award options are as follows:

  • $5,000 to 50 Black women who launched their businesses during the pandemic
  • $10,000 to 150 Black women business owners who survived the pandemic and are now focused on growth
  • $25,000-$50,000 to seven women whose “businesses demonstrate momentum and strong potential where our backing could help take her vision to the next level.”

Recipients will also receive support from coaches, mentors and peers.

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Here’s who else is getting a few last money moves in for 2021:

  • TeraWulf, an Easton, Maryland company that owns clean bitcoin mining facilities, raised $200 million in debt and equity financing from a group of institutional investors.
  • Excella, an Arlington, Virginia firm specializing in Agile technology, nabbed a $27 million, five-year task order from the Department of Health and Human Services, Office of the Inspector General. It will be helping to combat fraud, waste and abuse through the order.
  • The Demex Group, a DC-based risk advisory firm focused on climate change, raised $9 million in a Series A led by Anthemis Group, Blue Bear Capital and QBE Ventures.
  • Inovalon, a developer of cloud-based, data-driven healthcare platform based in Bowie, Maryland, was acquired by an equity consortium of Nordic Capital, Insight Partners, 22C Capital, Inovalon’s founder and CEO and selected Class B stockholders for $7.3 billion.
  • Revolution’s Rise of the Rest Seed Fund, the VC fund from DC’s Steve Case, released a report in collaboration with Pitchbook titled “Beyond Silicon Valley” which covers why funding has moved towards city businesses over the past 10 years.
  • McLean, Virginia’s KeifeRx, a biopharma firm, raised $6 million in a Series A round from new and existing investors.
  • Silver Spring, Maryland-based Planetary Systems Corporation, which works in spacecraft system separation, was acquired by California’s Rocket Lab USA for $42 million in cash.
  • Datasembly, a data analytics firm in Tysons, Virginia, raised $7 million in funding led by Valor Siren Ventures. Additional investors included Craft Ventures, Twenty 5 Twenty, Evan Brown and Launch Capital.
  • Modus Create, a digital and product services firm in Reston, Virginia, received a strategic investment from private equity firm JLL Partners to extend its product offerings and expand its global footprint.
  • Starchive, a Charlottesville, Virginia asset management platform previously known as Digital ReLab, raised a $4 million seed round led by The Felton Group.
  • Information Analysis Incorporated, based in Fairfax, Virginia, raised $9.9 million in equity financing through a private investment in public equity (PIPE) round.
  • Virginia Venture Partners invested in Tysons-based LevelFields, which developed an AI technology to search government filings, social media and news articles for stock predictions. The investment was made via the Virginia Founders Fund.
Companies: Black Girl Ventures
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