LightBeam.ai, a Palo Alto, CA-based zero trust data protection company, has raised $17.8 million in an oversubscribed Series A funding round.
SaaS Investors
The investment was led by Vertex Ventures US and supported by Dropbox Ventures, 8VC, Village Global, and several angel investors.
Founded in 2015, Vertex Ventures US is a venture capital firm based in Palo Alto, California. The firm seeks to invest in enterprise and deep tech companies.
LightBeam.ai Use of Funds
The company aims to use the funding to expand its go-to-market initiatives and continue developing its platform that converges data security, privacy, and AI governance.
About LightBeam.ai
LightBeam.ai is a data security and privacy automation platform intended to democratize data to drive business value. Leveraging generative AI as a foundational technology, LightBeam ties together sensitive data cataloging, control, and compliance across structured, unstructured, and semi-structured data applications providing 360-visibility, risk remediation, and compliance with PCI, GLBA, GDPR, and HIPAA among other regulations. Continuous monitoring with full data residency ensures ultimate zero-trust data protection, LightBeam is on a mission to create a secure privacy-first world.
Funding Details
Company: LIGHTBEAM.AI, INC.
Raised: $17.8M
Round: Series A
Funding Month: February 2024
Lead Investors: Vertex Ventures US
Additional Investors: Dropbox Ventures, 8VC, Village Global, and Angel Investors
Company Website: https://www.lightbeam.ai/
Software Category: Data Security and Privacy Automation
Source: https://www.prweb.com/releases/lightbeam-raises-17-8m-in-new-capital-driven-by-explosive-demand-for-its-ai-powered-data-protection-solutions-302050558.html