Lumos raises +$30m led by a16z and unveils the first internal AppStore for companies

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May 03, 2022, 06:30 ET

First-of-its-kind identity platform transforms SaaS management and identity governance with self-service solution

SAN FRANCISCO, May 3, 2022 /PRNewswire/ -- The identity company Lumos announced its out-of-stealth launch with a total +$30m funding from Andreesen Horowitz, Neo, Lachy Groom, Google Cloud CISO Phil Venables, OpenAI CTO Greg Brockman, and many more. Lumos is on a mission to build the AppStore for companies, replacing an IT ticket with a self-service portal for employees to select the apps and permissions needed. The platform detects project, role, or employee changes and kicks off an access review process, removing licenses where applicable.

Lumos Co-Founders from L-R: Andrej Safundzic, Leo Mehr, Alan Flores-López

Employees are using hundreds of SaaS apps to get their job done. But that convenience comes at a price. More apps plus more employees equals more security concerns for CISOs and more operational work for IT teams. With every app used by employees, the company inches closer to a disaster dubbed the 'APPocalypse' by Lumos co-founder Andrej Safundzic. The APPocalypse will bite companies in the SaaS: IT tickets, compliance breaches, unnecessarily high SaaS license costs, increased risks from compromised employee accounts, and insider threats.

The Lumos AppStore increases internal controls around access management while keeping workforce productivity high. By combining SaaS management and identity governance, IT and security teams can focus on strategic initiatives instead of dealing with operational headaches. The key to achieving that goal is self-service. Through self-service employees increase productivity, while making sure security is baked into the process.

"As the world has shifted from "bring your own device" to "bring your own app" and now "bring your own office" the challenge of shadow IT has only continued to compound. We're very excited to partner with the Lumos team as they build the tool that can bring light to this darkness," Peter Levine, General Partner at a16z.

Full release.

About Lumos
Lumos is the first internal AppStore for companies. With Lumos, employees are more productive and your enterprise more compliant with self-service app requests, access reviews, and license management.

The result: employees go to their Company AppStore and ask for app and permission access. IT and security can control who can request which apps, perform access reviews and automate access creation. Lumos makes companies productive and compliant at the same time. Learn more: lumos.com.

SOURCE Lumos