Startup Gigs Feb 15 2012

Baltimore's Lookingglass to Double Staff to 30

By joseph walker

Baltimore-based cybersecurity company Lookingglass Cyber Solutions plans to hire 15 new employees this year, now that it has raised $5 million in new financing from Alsop Louie Partners and Vital Financial. The firm currently has 15 full-time staffers.

Lookingglass makes software that aggregates cybersecurity threats that have been identified in the networks of their customers, their customers' partners and cloud-computing resources, the company says. Clients include government bodies like the Department of Homeland Security as well as financial services companies. The company's product helps customers look beyond their own networks for threats so as to take a "supply chain risk management" approach, said Chief Executive Derek Gabbard.

About 10 of the new hires will be technical, including positions for sales engineers, operation support, Ruby on Rails developers, data engineers, engineers with C and C++ experience, and developers with user interface experience. The company will also be hiring administrative staff. Gabbard said compensation would be competitive and that every employee receives equity. Lookingglass expects all of its employees to exhibit an "entrepreneurial spirit," he added.

While the company, founded in 2006, got a head start on competitors, it expects the market for cybersecurity services to grow, Gabbard said. Lookingglass raised this round of financing to expand its employee base and increase its ability to meet demand. "Last year we had a significant uptick in our customer pipeline, so to get ahead of what we expect to be delivery challenges we wanted to put the foot to the gas," Gabbard said.

In a regulatory filing, Lookinglass stated that its revenues were between $1 million and $5 million.

Write to Joseph Walker at Joseph.Walker@dowjones.com




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