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January 30, 2012

Baltimore's Lookingglass raises $5 million round of financing

Lookingglass Cyber Solutions, a Baltimore firm which makes some cool cyber security software that gives organizations global insight into cyber threats, said Monday morning that it raised $5 million in a series A round of financing.

Lookingglass, which got its start as an incubated company at the Emerging Technology Center in Canton, lined up West Coast and East Coast investors for the raise, which it will use for marketing, sales and deployment to enterprise customers, it said in a news release

Lookingglass's core product is called ScoutVision, which companies use to "continuously monitor their own networks, the networks of their partners and cloud-computing resources," Lookingglass says.

Lookingglass continues the trend of some local companies straddling both coasts to raise venture financing. Some have told me privately that there just isn't enough local interest in startup tech to put together a round that solely originates in Maryland or the Mid-Atlantic. An interesting post in TechCocktail, featuring Josh Konowe's experience raising money for Uppidy, is one of the latest anecdotes.

I haven't yet interviewed the Lookingglass folks, so I don't know about their personal experience.

The main investor is Alsop Louis Partners, an early stage investment firm in San Francisco. Vital Financial, a private equity and capital investment firm in Bethesda, MD, participated in the round.

Lookingglass disclosed to the Securities and Exchange Commission in August that it was attempting to raise capital, in a Form D filing. At the time, it said it was trying to raise $500,000.

The company listed its revenues as between $1 million and $5 million.


This is an archived version of the technology blog. For updated coverage, see the current baltTech location: baltimoresun.com/balttech
Posted by Gus Sentementes at 10:07 AM | | Comments (0)
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About Gus G. Sentementes
Gus G. Sentementes (@gussent on Twitter) has been writing for The Baltimore Sun since 2000. He's covered real estate, business, prisons, and suburban and Baltimore City crime and cops. He was one of the first reporters at The Sun to use multimedia tools and Web applications -- a video camera, an iPhone -- to cover breaking news. He hopes to cover Maryland geeks and the gadgets and Web sites they build, and learn -- and share -- something new every day.

Gus has a wife, a young daughter and two feuding cats. They live in Northeast Baltimore.
This is an archived version of the technology blog. For updated coverage, see the current baltTech location: baltimoresun.com/balttech
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