Luminate Security emerges from stealth with $14m

Luminate Security, a Tel Aviv-based cybersecurity company, has emerged from stealth having raised $14m from seed and Series A funding rounds.

The company said it raised the capital from US Venture Partners, Aleph Venture Capital and the ScaleUp program from Microsoft. As part of the financing, USVP’s Jacques Benkoski and Aleph’s Aaron Rosenson will join the Luminate board of directors.

Founded in January 2017, the company claims to provide the first universal platform for access to corporate applications in hybrid clouds. Unlike traditional security solutions, Luminate enables IT operations to move at the speed of digital business requirements, integrating seamlessly with their existing IT tools.

The software-as-a-service security platform allows CISOs, CIOs and CTOs to securely manage access to all their corporate resources from any device anywhere in the world. Based on Software Defined Perimeter principles, Luminate says it gives users one-time access to the requested application while all other corporate resources are cloaked without granting access to the entire network. The aim of this to prevent any lateral movements to other network resources and eliminates the risk of network-based attacks.

“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,” said Luminate CEO Ofer Smadari.” 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.”

After 14 months of developing its software, Luminate is now emerging from stealth with production-grade paying enterprise customers, including international financial, technology, and consumer services enterprises.

The company was founded cybersecurity veterans Ofer Smadari, Leonid Belkind, and Eldad Livni. Previously part of elite Israeli military technological units, the founders have held senior roles in some of Israel’s most innovative security and infrastructure companies including Check Point Software Technologies and Adallom (acquired by Microsoft).

Perception Point, a Tel Aviv-based cybersecurity firm whose technology intercepts attacks, recently closed a $8m Series A funding round. Founded in 2015 by Israeli cyber-intelligence experts, Perception Point has developed a platform blending the best of hardware and software capabilities to detect exploits before hackers are able to penetrate an organisation.

Copyright © 2018 RegTech Analyst

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