Duo Security opens a new office in downtown Detroit, expanding from its headquarters in Ann Arbor, Michigan . The company will immediately relocate 30 team members to a shared space at Bamboo Detroit, in the Madison Building, and by the end of the year, plans to move into a 9,000-foot space squares to accommodate other employees.
It’s a big win for Detroit.
Duo Security is one of the hottest space-saving security startups and perhaps one of Michigan’s largest. The company raised a $ 70 million Series D at the end of October 2017, placing its valuation at the North of the Billion. Duo employs 350 people in Ann Arbor, Michigan, and 250 others in other offices around the world. With all this, Duo has been sent back to Ann Arbor, but the talent and excitement in Detroit is impossible to ignore.
“Metro Detroit has more engineers per capita than any other area in the US near Silicon Valley,” says Dug Song, CEO and co-founder of TechCrunch. “And while our university town of Ann Arbor is a cornerstone of innovation in the region, Detroit’s urban area is nearly 4 million strong.” Jon Oberheide and I were Desirous that Duo can play a role in the growing momentum of the city and support the ongoing efforts to strengthen the technological profile of the region. “
Dug tells me that the company chose Bamboo to house the first Duo employees as a return to the company’s roots. Duo was founded in a coworking space and the company is ready to help build a platform for the city.
Duo moves into the Madison Building, one of the pillars of the startup community in Detroit. It’s one of the first buildings that real estate mogul Dan Gilbert bought by moving Quicken Loans to downtown Detroit. It was quickly modernized in 2011 and has been home to many Gilbert-backed venture capitalists, accelerators, and startups, including offices for Twitter and others.