- LightBeam provides a platform designed to streamline and integrate data security, privacy, and governance.
- As stated by the CEO and Co-founder, LightBeam sets itself apart from other providers by automating security and compliance workflows, ensuring a seamless experience for managing sensitive data governance.
LightBeam.ai Inc., a startup specializing in zero-trust data security and privacy automation powered by artificial intelligence, has just disclosed securing a new funding of USD 17.8 million. The capital will be utilized to extend its go-to-market efforts and further enhance its platform through continued investments.
Established in 2020, LightBeam provides a platform with the goal of simplifying and integrating data security, privacy, and governance. The platform is crafted to aid businesses in swiftly and confidently advancing their growth in new markets.
LightBeam contends that the current data economy requires employees to have access to an extensive range of company and user data for enhanced decision-making, leading to significant challenges related to data exposure. Similarly, contemporary AI solutions frequently utilize company and user data for self-training, heightening concerns about privacy and data security. A zero-trust strategy toward data involves a unified and consistent method for data inventory, classification, and access, assisting organizations in preserving the comprehensive lineage of their data.
Himanshu Shukla, Co-founder and Chief Executice, said, “In the era of generative AI breakthroughs, organizations are empowered to unlock valuable insights from customer data. However, this advancement poses the crucial challenge of ensuring secure and compliant handling of customer data within the evolving landscape of AI governance and privacy regulations.”
According to Shukla, LightBeam stands out from other providers by its ability to automate security and compliance workflows, offering an experience for governing sensitive data without unnecessary friction.
The company reports robust expansion, noting a 300% surge in its customer base over the past year from an undisclosed starting point. This growth encompasses businesses in various sectors, including banking, financial services, insurance, healthcare, technology, and retail. Noteworthy clients in their portfolio include Snap Finance Inc., Roost Labs Inc., RiskOptics, Horizon Clinical Research Services Inc., and MonetizeNow Inc.
Vertex Ventures US LLC spearheaded the Series A round and saw participation from Dropbox Ventures, 8VC (Eight Partners LLC), and Village Global Inc. Head of corporate development and ventures at Dropbox, Donald Tucker, said, “The combination of LightBeam’s integrated platform, their AI-powered data discovery tools and their ability to ingest and classify both structured and unstructured data uniquely positions them to be a leader in the data governance space.”
Including the new funding, LightBeam has raised USD 22.3 million to date, according to data from Tracxn.