About LumenStrata

Technology due diligence led by commercially focused technologists

LumenStrata was created to meet a growing need in the lower mid-market for pragmatic technology diligence that looks beyond the codebase and translates technical risk into commercial impact.

The technology due diligence market has often been split between two imperfect options: large advisory firms that can be too heavy, costly or inflexible for lower mid-market transactions, and highly technical reviewers who understand code but may not fully connect their findings to the commercial context of a deal.

LumenStrata was created to sit in the middle: a specialist M&A technology diligence practice that looks beyond technical detail alone, focuses on the issues that could affect value, scalability, cost or execution, and remains accessible to lower mid-market investors, advisers and founders.

How we work

Our Working Principles

01
Context-Led
Every engagement is shaped around the transaction, business model and client objective. Although our work is built around six core assessment areas, the depth of review varies depending on the thesis, risk profile and areas of concern. Where needed, additional areas can be added so the engagement focuses on the insight that matters most.
02
Pragmatic and Balanced
No technology estate is perfect. Founders and teams often make sensible trade-offs to support customers, revenue and growth. Our role is to distinguish normal imperfection from material risk, and provide a fair view of what matters, what can wait and what should be addressed.
03
Commercially Useful
Technical findings are assessed in the context of the deal, not in isolation. The output is concise, structured and focused on issues that could affect valuation, scalability, cost, delivery, integration, maintainability or post-transaction execution.
04
AI-Supported, Human-Led
We use AI where it improves speed and efficiency, such as document handling, formatting, search and review workflows. However, our findings, recommendations and commercial judgement remain human-led, grounded in years of relevant technology, delivery and advisory experience. AI helps with the mundane; judgement stays with experienced people.

Our Team

The People Behind LumenStrata

David Rushton
Founder and CTO
David is a technology leader and advisor with more than 20 years' experience helping organisations make better decisions about software, systems and technology risk. He has worked across SaaS, finance, healthcare, construction, professional services, travel and e-commerce, with experience spanning product development, digital transformation, integrations, technical due diligence and complex delivery environments. At LumenStrata, David leads the firm's diligence approach, translating technical findings into clear commercial insight for investors, advisers and founders.
Graham Roberts
Associate Partner
Graham is an experienced CTO and technology transformation leader with more than 20 years' experience helping SMEs use technology to improve performance, scalability and value. He brings pragmatic senior technology judgement to diligence engagements, particularly where growth, operational maturity or technology investment are central to the thesis.
Daniel Ellis
Associate Partner
Daniel is an experienced CEO, fractional CIO and private investor with a background in managed services, business strategy and technology-led change. Having built, acquired and sold businesses in the IT sector, he brings a strong commercial lens to technology operations, back-office systems, M365 environments, continuity planning and supplier risk.
Leo Ijebor
Technology Advisor
Leo is an experienced CTO, software architect and SaaS technology leader with deep experience across fintech, edtech, healthtech and venture-backed product businesses. He advises LumenStrata at a business level, bringing senior perspective on product, architecture and technology leadership; he does not work directly on client engagements.
Dylan Hundley
Fractional Business Development Manager
Dylan is a business development and partnerships leader with more than 20 years' experience across private equity, venture and startup environments. She previously managed the New York chapter of Opus Connect, a private equity and M&A-focused network, and has helped companies raise more than $150M. At LumenStrata, Dylan supports business development, relationship building and market outreach across investors, advisers and strategic partners.