Lumos, an app and identity management platform, secures $35M Series B funding to enhance app and identity management, empowering IT and security teams with advanced enterprise solutions. Scale Venture Partners led the round, with contributions from Andreessen Horowitz, Harpoon Ventures, Neo, and others.
Since its last funding round, Lumos has achieved remarkable growth, increasing its revenue by nine times. The platform has attracted top enterprise customers, including Pinterest, MongoDB, and GitHub. Lumos enables IT and Security teams to discover and manage an organization’s apps by centralizing app and identity management. This automation reduces IT tickets, protects against identity-based breaches, and decreases software spend.
“We are enabling the trend towards centralizing CIO and CISO technology stack needs and providing clear ROI cross-functionally for our customers,” said Lumos CEO Andrej Safundzic.
Unified Command Center for IT and Security
Lumos is the only unified command center to manage software vendors, app access, and user identities. This integration helps organizations streamline IT processes, enhance security measures, and reduce costs. IT and Security teams benefit from Lumos by centralizing their operations on a single platform.
“Organizations are often spending more on maintaining systems than on software itself. We’re committed to bringing app and identity management into one platform and making that platform as efficient as possible. That includes connecting both on-prem and cloud systems and using AI to reduce the total cost of ownership,” added Andrej Safundzic.
Bridging the Gap Between IT and Security
Large enterprises typically use an average of 650 applications. While CIOs and CISOs often operate in silos with different tools, Lumos brings these teams together.
By merging SaaS Management and Identity Management into one platform, Lumos allows IT teams to streamline onboarding and offboarding, eliminate unused licenses, and provide a self-service AppStore for employees. Security teams use Lumos for quarterly access reviews, meeting SOX and ISO27001 standards, and managing privileged access with temporary admin rights.
“Building a unified platform that helps IT and Security teams manage apps and identities in one place is long overdue. The need is evident in the recent growth of Lumos. We look forward to partnering with the team as they continue building. AI has the potential to enable the automated management of employee access, software spending and security needs, and the team at Lumos is well on its way to making that a reality,” said Ariel Tseitlin, Partner at Scale Venture Partners.
Lumos’ Advanced Enterprise Solutions
Lumos meets complex enterprise requirements by connecting with both on-premise and cloud systems at a granular permission level. Leveraging AI, the platform reduces the time and cost of implementation, making it a comprehensive solution for modern enterprises. With the new funding, Lumos plans to expand its app and identity platform, continuing to innovate and meet the evolving needs of IT and Security teams worldwide.
“What I love about Lumos is that they helped us get visibility to all our software vendors, app access and user identities in one platform,” said Tristian Cary, Sr. Enterprise Applications Manager at Roku. “It puts me in a much better position to manage our software spend and automate access requests. Our security team also loves how they can limit an employee’s access with just-in-time access.”
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