Tech champion Duo Security opening office in downtown Detroit

One of Michigan's rare "unicorn" technology firms, Ann Arbor-based Duo Security, is opening an office in downtown Detroit.

Duo will transfer 30 of its Ann Arbor staffers to its downtown Detroit location this month, basing them at Bamboo Detroit, a co-working space catering to technology startups in the Julian C. Madison Building at 1420 Washington Blvd.

Expecting to grow the office, Duo plans to move into 9,000 square feet of its own exclusive space at Bamboo on the building’s sixth floor by the end of this year.

Dug Song, co-founder and CEO of Duo Security, said the move represents a vote of confidence in the growing tech scene in Detroit.

“Detroit has always moved the world, both in body and soul, through its industry and art,” he said. “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."

Founded in 2010, Duo Security provides protections against data breaches and other online security threats with products now in use by some 10,000 customers around the world.

In 2017, Duo raised $70 million in new financing with a more than $1 billion valuation, the largest venture-capital funding round in Michigan history, according to the Michigan Venture Capital Association. It thus ranks among "unicorns," startups that have achieved a $1 billion-plus valuation.

In an interview, Song said the move will help bridge the gap between the tech ecosystem in Ann Arbor centered at the University of Michigan and accelerators like Ann Arbor SPARK, and the growing tech scene in Detroit.

"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,” Song said.

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Duo has already sponsored and participated in tech events in the city including Detroit Startup Week and Techweek Detroit. The company plans to host regular “Duo Tech Talks” featuring local and global technology leaders in its new Detroit space.

Duo employs about 350 Michigan-based staffers, and its global workforce now totals about 600, with offices in Ann Arbor, Austin, Texas; San Mateo, Calif.; and London, England.

Opened in 2013, Bamboo Detroit is a co-working space that is home to more than 200 Detroit businesses with an estimated annual revenue of $74 million.

“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.”

Contact John Gallagher: 313-222-5173 or gallagher@freepress.com. Follow him on Twitter @jgallagherfreep.