Gravwell, a Coeur d’Alene, Idaho and Minneapolis-based data analytics platform, announced Wednesday it raised a $3 million round of seed funding.
The round was led by Montanta-based Next Frontier Capital, Maryland-based Gula Tech Adventures, Utah-based Kickstart Fund and Washington, D.C.-based Revolution's Rise of the Rest.
CEO Corey Thuen said in a phone interview earlier this week that the funding will allow the company to take its tech to market in earnest.
"In an industry known for holding users back through prescriptive limits and cost prohibit pricing, usually due to underlying technical limitations, Corey and his team deliver tremendous value to customers by enabling them to collect and analyze the entirety of their data — without limits.” said Les Craig, partner at Next Frontier Capital.
Thuen founded the company in 2017 after working in penetration testing. After breaking in and telling companies how he did it, Thuen repeatedly found his clients had no ability to respond to or detect the attacks.
Gravwell's platform allows security teams at large companies to investigate and analyze data, such as text logs, by crunching massive amounts of data. Thuen said the company's secret sauce is its data link that removes any limits to data transit or storage costs.
"People think big data is just a really large spreadsheet, but corporations doing these things need to crunch 100 terabytes per day," Thuen said.
As the company scales, it has plans to also use machine learning to analyze security camera footage of data centers.
Thuen relocated to the Twin Cities in June, and eventually intends to make Minneapolis the company's primary office due to its proximity to numerous Fortune 500 companies. .
The company is currently hiring software engineers and specialists, and has plans to add sales and marketing jobs.
