Security Startup Luminate Emerges From Stealth Mode with $14 Million in Equity
Founded in 2017 by former Check Point employees, the Tel Aviv and Palo Alto-based company develops software that provides secure corporate access to hybrid cloud environments
Security company Luminate Security has announced on Wednesday its exit from stealth mode with $14 million raised in combined seed and Series A funding rounds. An alumnus of Microsoft's ScaleUp accelerator, Luminate is backed by Menlo Park, California-headquartered U.S. Venture Partners and Tel Aviv-based Aleph Venture Capital.Luminate stated it intends to use the funding to expand its operations in the U.S. and its customer base, which already include financial, technology, and consumer services enterprises.
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Luminate was founded in January 2017 by Ofer Smadari, Leonid Belkind, and Eldad Livni, all have military cyber background and experience working at Check Point Software Technologies Ltd. and cloud security startup Adallom, bought by Microsoft in 2015. Luminate has dual offices in Tel Aviv and Palo Alto, California.
Luminate founders Ofer Smadari. Eldad Livni and Leonid Belkind. Photo: PR
Luminate develops universal software that provides secure access to corporate applications on hybrid cloud environments. As cloud and complex hybrid environments become more common, the company said in a statement, traditional network security techniques such as virtual private networks, demilitarized zones, and firewall systems become out-of-date. Luminate's software integrates with existing IT tools, enabling employees to access any corporate resources from any device safely, the company added.
Jacques Benkoski of U.S. Venture Partners and Aaron Rosenson of Aleph will join Luminate's board.