U.S. Venture Partners Backs
Luminate Security in $14M Round
March 14, 2018
Security emerged from stealth and announced a total of $14M in
combined round A and seed funding. Luminate is backed by U.S.
Venture Partners and Aleph Venture Capital along with the
ScaleUp program of Microsoft for startups. Joining Luminate's
board of directors are USVP's Jacques Benkoski and Aleph's Aaron
Luminate was founded in January 2017 and has spent the last 14
months developing and deploying its software. The company is
emerging from stealth with production-grade paying enterprise
customers, including international financial, technology, and
consumer services enterprises.
With the rise of the cloud and complex hybrid environments,
traditional network perimeter security techniques, such as VPNs,
DMZs and network firewall solutions become obsolete. CISOs, CIOs
and CTOs are under pressure to facilitate quick and dynamic
adoption of new business applications to support their
organization's business needs without compromising on security.
Traditional security approaches rely on multiple layers of
network security solutions, such as VPNs and firewalls. Managing
and updating all these solutions used to be a resource-heavy
endeavor. With the adoption of hybrid cloud datacenters, it has
become impossible to effectively secure corporate resources in
"Luminate's solution takes the BeyondCorp philosophy as a
starting point and transforms security in corporate IT networks.
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," said Luminate CEO, Ofer
Smadari. "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."
Unlike traditional security solutions, Luminate enables IT
operations to move at the speed of digital business
requirements, integrating seamlessly with their existing IT
tools. Employees can safely access any corporate resources from
any device while IT and security teams gain a comprehensive
security governance framework, effectively eliminating risks of
attacks on their resources.
Luminate's approach is based on Software-Defined Perimeter (SDP).
Gartner recently noted Software-Defined Perimeter as one of the
top technologies for information security in 2017*. According to
Gartner, "by 2021, 60% of enterprises will phase out network
VPNs for digital business communications in favor of
software-defined perimeters, up from less than 1% in 2016."**
CTO Gay Naor of NEX Group (formerly ICAP), one of the world's
largest financial technology companies, that manages $1.5
trillion transactions a day on its platform, said: "Our
employees and contractors from around the world use on-premises
and cloud-based corporate applications. It is critical that we
balance granting access to these apps while maintaining tight
security standards. Luminate's BeyondCorp-as-as-service platform
provides us with a practical access solution to all our
applications while minimizing our risk exposure. Deploying
Luminate's solution saved us at least 18 months and hundreds of
"Luminate's unique approach operates on the application level.
It is agentless and, therefore, can be adopted quickly by large
populations of corporate role-players, without forcing a
disruptive change in the organization's existing architecture,
user permissions and applications," said Smadari.
seamlessly integrates with all cloud Infrastructure-as-a-Service
and on-premises data center technologies. The user experiences
the freedom to access any application, wherever it is hosted,
from whatever device or location worldwide, through a
consistent, cloud-native user experience.
Luminate founders are cyber security veterans Ofer Smadari,
Leonid Belkind, and Eldad Livni. As part of elite Israeli
military technological units and playing senior roles in some of
Israel's most innovative security and infrastructure companies
including Check Point Software Technologies and Adallom
(acquired by Microsoft), the co-founders have an extensive
background in information security and vast experience in
delivering scalable and reliable security solutions to Fortune
Luminate, which is headquartered in Israel and Silicon Valley,
plans to use the funding for expanding its operations in the
United States and developing its channels and customer base.