Lexumo, a Cambridge, MA-based developer of a service for continuously monitoring software for vulnerable open source components, closed $4.89M in seed funding.
The company intends to use the funds to further develop and commercialize the platform and build sales and marketing teams.
Led by Brad Gaynor, Ph.D., CEO and co-founder, Lexumo provides a cloud-based service that combines big data analytics with software analysis techniques to continuously search and index software to immediately identify publicly-known open source vulnerabilities that can cause theft of sensitive data, failure of critical systems, and brand damage. It integrates with existing software development workflows, does not require access to source code, and provides specific, actionable recommendations for remediation.
The technology was originally developed at Draper with DARPA funding.