SaaS firm Lumos announced a $35 million Series B funding round led by Scale Venture Partners. The funding support the company to launch the unified access platform.
Lumos, identity & access management (IAM) software, has raised $35 million in Series B funding led by Scale Venture Partners with participation from Andreessen Horowitz, Harpoon Ventures, and Neo. After 9x growth, this investment will empower the company to expand its app and identity platform.
According to the press release, Andrej Safundzic, CEO of Lumos shared: “We are enabling the trend towards centralizing CIO and CISO technology stack needs, and providing clear ROI cross-functionally for our customers. Organizations are spending more on maintaining systems than for software itself in many cases. 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, as well as using AI to reduce the total cost of ownership.”
“Building a unified platform that helps IT and Security teams manage both apps and identities in one place is long overdue. The need is evident in the recent growth of Lumos. We’re looking forward to partnering with the team as they continue to build. AI has the potential to enable the automated management of employee access, software spend 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.
This funding will enable the company to support IT and Security teams to solve app and access issues by merging the SaaS Management and Identity Management into a single platform.
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About Lumos:
Lumos specializes in managing apps and identities for IT and security teams. The software enables IT and Security teams to centralize app and identity management in one platform. Its customers include GitHub, MongoDB, and Major League Baseball.
