US-based enterprise cybersecurity startup Luminate Security emerged from stealth yesterday with $14m of funding from investors including software provider Microsoft’s ScaleUp accelerator.
The figure represented seed and series A rounds, and the company’s investors also include venture capital firm US Venture Partners and VC fund Aleph Venture Capital. Representatives of both firms are joining its board of directors.
Founded in January 2017, Luminate has created a cybersecurity software platform that enables executives to manage their companies’ corporate resources from anywhere, giving users one-time-only access to specific applications while cloaking the rest of the corporate network.
Ofer Smadari, co-founder and chief executive of Luminate, said: “Luminate provides a unified security stack on all environments that allows only point-to-point, ad-hoc user access to specific corporate resources, wherever they are hosted. At no point in time is the corporate network exposed.
“Our platform deploys in less than five minutes and, once in place, provides full visibility and complete governance of users’ actions when accessing corporate resources.”
Smadari was formerly an executive at cloud security software provider Adallom, which was acquired by Microsoft for $250m in 2015, serving as managing director for the Asia Pacific and Europe, Middle East and Africa regions.