IT Admin Stories of Challenge and Success
VAULT HOME
 / 
Productivity

We raised +$30M led by a16z and unveiled the first internal AppStore for companies

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

Sandi Green, Product Marketing @Lumos
3 Min Read
Share
https://lumos.com/may-2022-press-release

This story is part of Security Essentials, the IT Vault’s practical advice for getting the most out of your security team.

This story is part of Foundations Essentials, a collection of must-reads for all IT professionals.

We're announcing our 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. We're 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. Our platform detects project, role, or employee changes and kicks off an access review process, removing licenses where applicable.

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 our 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.

Andrej explains, “Eliminating IT tickets is possible. There’s a better, more compliant way to manage app and permission sprawl. It crucially involves structured self-service. By enhancing role-based access control (RBAC) with a self-service portal (with roles, rules and workflows), IT, IAM and security teams can automate the on and offboarding process, ensure security and compliance, and kill the IT ticket.”

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.

“Lumos is changing the way that companies think about driving productivity while managing costs, compliance and security. We’ve seen a huge spike in the number of security breaches and ransomware attacks. And the first step in protecting your company data from attacks is by implementing good cyber hygiene and access control policies. Lumos is the only company we have seen to be able to create a consumer-grade user experience for employees, while enabling admins to reduce over-provisioning with automated access review and removal workflows,” Peter Levine, General Partner at a16z.

"We looked at a variety of solutions. However, we didn't find a holistic platform until Lumos. Most solutions didn't offer a consumer-grade UX. And all of them just focused on a few use cases such as reducing app spend or conducting access reviews. With Lumos, we get all of the productivity, compliance and cost features in a single platform. It's a no-brainer,” Drew Daniels, IT/Security Leader @Secureframe.

“As the largest investor network focused on supporting and investing in the best venture-backed companies that embrace and value diverse leadership, including LGBTQIA+, Gaingels is proud of participating in this financing and is resolved on helping Lumos grow and scale while strengthening its prospects of success by building a culture that reflects the diversity of its executive teams, staff, and customers.” - Lorenzo Thione, Managing Director, Gaingels.

About Lumos

Employees shouldn't be admins for hundreds of web apps with excessive permissions. But then again, nobody wants to be stuck in IT ticket queues for days to get the right access. Lumos is the first internal AppStore for companies. With Lumos, you make your employees more productive and your enterprise more compliant with self-service app requests, access reviews, and license management.

The result: employees can go to their Company AppStore and ask for access to apps and permissions. IT and security love it, too. They can control who can request which apps, perform access reviews and automate access creation. Lumos makes companies be productive and compliant at the same time.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
This is some text inside of a div block.

By using this form, you agree with Lumos' Privacy Policy