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Coeur d’Alene-based Gravwell raises $3 million in seed funding

Coeur d'Alene-based data startup Gravwell, led by CEO Corey Thuen, recently raised $3 million in seed funding to expand sales operations.  (Courtesy photo)
Coeur d'Alene-based data startup Gravwell, led by CEO Corey Thuen, recently raised $3 million in seed funding to expand sales operations. (Courtesy photo)

Gravwell, a Coeur d’Alene-based startup that provides a platform for businesses to collect and analyze data to improve security, has raised $3 million in a seed funding round.

The funding includes investments from venture capital firms Next Frontier Capital, Kickstart Fund and Revolution’s Rise of the Rest. The investment builds upon Gravwell’s initial round of funding from Maryland-based venture capital firm Gula Tech Adventures.

Seed funding is an early stage of capital investment in startups.

Gravwell’s enterprise data-fusion platform enables cybersecurity analysts to investigate, analyze and share unlimited data to solve service-related challenges, among other things.

“We are incredibly proud of the value that we deliver for our customers. There are very few tools that actually scale past 40 terabytes per day and no one is collecting all the data they want,” Gravwell CEO Corey Thuen said in a statement. “On our platform, they will never have to make a decision about which data to use or lose – it is all their data.”

With the round of seed funding, Gravwell will be able to meet growing demand from Fortune 1000 companies and the nation’s critical infrastructure sector, according to the company.

Gravwell, which was founded in 2017, doubled its sales team this year to keep up with demand for its product that can do large-scale logging and real-time data analysis.

“The main reason for fundraising is not to develop a product – it’s to address increasing demand from our existing markets, which is mostly U.S. critical infrastructure,” Thuen said.

“When you get to a massive scale of data, there are very few companies and very few products that can help organizations crunch that much data.”

Gravwell is planning to open a new office in Minneapolis to support its Coeur d’Alene headquarters, which is home to nearly 20 employees.

“I’d like to see more high-tech activity capability within the Inland Northwest region,” Thuen said. “We’re hoping that we can help contribute to that and make it just an attractive place for the companies like ours to succeed and bring in more people.”

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