LightBeam.ai, a Palo Alto, CA-based zero trust data protection company, raised $17.8M in funding.
The round was led by Vertex Ventures US, with participation from Dropbox Ventures and existing investors 8VC and Village Global, alongside angel investors.
The company intends to use the funds to expand its go-to-market initiatives across sales, marketing, channel, and alliances, and to continue investing in its vision of converging data security, privacy, and AI governance into a single platform.
Led by CEO Himanshu Shukla, LightBeam streamlines and converges data security, privacy and governance, enabling businesses to accelerate their growth in new markets with speed and confidence. Leveraging generative AI as a foundational technology, it provides an identity-centric and automation-first approach to zero trust data protection. LightBeam combines sensitive data cataloging, control, and compliance across structured, unstructured, and semi-structured data applications providing 360-visibility, risk remediation, and compliance with PCI, GDPR, HIPAA among other regulations.
This investment follows strong business momentum, with nearly 300% annual customer base growth led by banking, financial services, insurance, healthcare, tech, and retail sectors.
Commenting on the news, Himanshu Shukla said: “At LightBeam, we address these challenges head-on with our revolutionary Zero Trust sensitive data protection platform. What sets us apart is our capability to automate security and compliance workflows seamlessly, providing a frictionless experience for sensitive data governance. We are committed to providing organizations with the tools they need to navigate these challenges effortlessly, empowering them to responsibly harness the power of Generative AI.”
FinSMEs
31/01/2024