Tech ‘unicorn’ to occupy 9,000 square foot space in historic Julian C. Madison Building; will immediately relocate 30 team members from Ann Arbor office in first phase of growth downtown
Ann Arbor, Mich. - April 4, 2018 - Duo Security, one of the fastest-growing cybersecurity companies in the world, today announced expansion of operations to downtown Detroit led by the company’s engineering, information services and product teams.
Duo’s first phase of growth in Detroit entails immediate relocation of 30 team members from the company’s Ann Arbor offices to temporary, shared space at Bamboo Detroit in the historic Julian C. Madison Building, located at 1420 Washington Blvd. To accommodate hiring growth and further team member relocation downtown, the company will expand into 9,000 square feet of exclusive space at Bamboo on the building’s sixth floor, by the end of the year.
“Detroit has always moved the world, both in body and soul, through its industry and art,” said Dug Song, Duo co-founder and Chief Executive Officer. “Our Detroit office is an opportunity to build upon this rich history of innovation after years of collaboration with friends in the city to bridge our regional tech community. We are proud to help invest in the historic resurgence of Detroit, excited to learn and grow together, and committed to a success much greater than ourselves.”
Founded in 2010, Duo has been an avid supporter of Detroit’s startup community, sponsoring and actively participating in city-wide events such as Detroit Startup Week and Techweek Detroit. Duo executives have also mentored numerous Detroit-based entrepreneurs through initiatives such as Venture For America (VFA), Startup Boost and Techstars Mobility accelerator programs. The company will host regular “Duo Tech Talks” on a range of topics featuring local and global technology leaders in its new Detroit space.
“We couldn’t be more proud to have Duo make their first major step downtown by welcoming them to Bamboo,” said Amanda Lewan, Bamboo co-founder and CEO. “Dug and his team have invaluable experience into what it takes to successfully scale and disrupt, and we look forward to connecting them with local startups for their collaboration and advice on growing their businesses.”
Since opening in 2013, Bamboo Detroit has become a destination for burgeoning entrepreneurs looking to grow their businesses. The co-working space is home to more than 200 diverse Detroit businesses generating an estimated revenue of $74 million annually.
“Bamboo has been a catalyst for Detroit entrepreneurs looking to scale their businesses, and we’re happy to partner with them as we look to ingrain ourselves in the local community,” said Song. “Duo is committed to providing resources and leveraging our team member expertise in any way we can to help further accelerate the growing startup ecosystem downtown.”
Duo currently has 350 Michigan-based team members, and has tripled global headcount from 200 to more than 600 in the past two years. The company plans for continued hiring growth at its Ann Arbor offices, as well as its Austin, Texas; San Mateo, Calif.; and London locations.
Duo is a top-rated employer with a 4.6 score on Glassdoor; providing team members a generous benefits package, including unlimited vacation time and 16 fully-paid weeks of primary parental caregiver leave. Duo also offers company equity to team members and a monthly reimbursement for a wide-range of wellness-related activities, including gym memberships, nutrition counseling and much more.
In 2017, Duo raised $70 million in additional financing at an over $1 billion valuation, the largest venture-capital funding round in Michigan history, according to the Michigan Venture Capital Association. The company also surpassed 10,000 customers globally and $100 million in annual recurring revenue, making it one of the fastest-growing software-as-a-service providers in the world.
For more information, please visit https://duo.com/about.
About Duo Security
Duo Security helps defend organizations against data breach by making security easy and effective. The company’s Trusted Access and industry-leading Beyond product suites ensure only trusted users and safe devices have access to protected data and applications - anytime, anywhere. The company has more than 10,000 customers globally, including Dresser-Rand, Etsy, Facebook, K-Swiss, Random House, Yelp, Zillow, Paramount Pictures, and more. Founded in Michigan, Duo has offices in both Ann Arbor and Detroit, as well as bustling hubs in Austin, Texas; San Mateo, California; and London. Visit duo.com to find out more.