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LightBeam Launches Data Privacy Automation Platform to Help Businesses Streamline Compliance

LightBeam.ai came out of stealth and announced the general availability of its category-defining, AI-powered, identity-centric data privacy automation platform.

The trifecta of ubiquitous data collection, universal access, and uninhibited sharing makes it nearly impossible for companies to safeguard their sensitive data from accidental leakages and targeted breaches. Furthermore, a fast-evolving privacy regulatory environment has spawned a plethora of manual compliance processes that are both inefficient and ineffective in addressing the associated regulatory and reputational risks.

As a data privacy automation (DPA) platform, LightBeam fosters autonomous privacy management tying together discovery, cataloging, access controls, and data loss prevention (DLP). One of the platform's key innovations is LightBeam's ability to detect fragments of Personally Identifiable Information (PII) and Protected Health Information (PHI) data and help privacy and security teams understand the identities (customers/patients/partners) to whom such data belongs, enabling them to automate security of all sensitive data proactively.

"Privacy professionals in FinTech lose sleep over securing sensitive customer data and complying with privacy regulations," said Kiran Sharma, Senior Privacy Manager, Snap Finance. "The legacy manual ways have become too limiting. I am impressed with LightBeam's automation-first approach and how the platform enforces data privacy controls across structured and unstructured data."

"The explosion of data, hybrid work, and risk has left organizations struggling to effectively manage their data from a risk and privacy compliance perspective. Unfortunately, businesses find themselves having to adhere to disparate regulations, which is confusing, manual and often expensive," said Ryan O'Leary, Esq., Research Manager, Privacy and Legal Technology at International Data Corporation (IDC). "A data discovery and governance first approach can help businesses lay the foundation of data privacy management. This approach also enables automation and helps them adhere to current and future regulations efficiently."

LightBeam consolidates the compliance processes required at each stage of a business, discovering and identifying ownership of sensitive data, automating previously manual processes, and enforcing regulations to remain compliant across a myriad of regulations. Its unique identity-centric approach helps customers automate compliance against a patchwork of existing and emerging privacy regulations such as GDPR, CPRA, HIPAA, and PCI-DSS.

"​​In the healthcare industry, securing protected health information (PHI) is paramount," said Samir Ranjan, CIO of Family Health Centers San Diego. "The industry has been looking for the holy grail where all PHI leakage including leakage via images/screenshots can be controlled. LightBeam can help organizations holistically manage and protect all sensitive patient data."

"As a data-driven enterprise becomes a necessary reality, it brings with it hard-to-manage fragmentation, complexity and distribution across structured and unstructured data," said Bhaskar Ghosh, Partner at 8VC. "Making discovery, compliance and governance work in this scenario with a rich and nuanced identity-centric view is necessary, but technically very challenging. Lightbeam's AI-enabled platform and use-case focused product offerings solves that, and much more. 8VC is proud to be part of this superb founding team's journey to redefine and enable an enterprise's identity-first future."

Founded by ex-LinkedIn and ex-Nutanix executives Himanshu Shukla, Aditya Ramesh and Priyadarshi Prasad, LightBeam raised seed funding in December 2020, with 8VC leading the round. Village Global and Monta Vista Capital supported the round, together with a number of angel investors from the security and privacy space.

LightBeam.ai will be unveiling its generally available data privacy automation platform at booth #119 of the IAPP Global Privacy Summit 2022 in Washington, DC, April 11 - 13, 2022.

Published Friday, April 08, 2022 2:33 PM by David Marshall
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