Lumos to Acquire YC-backed Fastgen's Technology, Marking a Transformation in Identity Security
Lumos, the leading Identity Platform, has announced the acquisition of automation technology from Fastgen, a pioneering low-code development platform.
SAN FRANCISCO and NEW YORK, December 9, 2024 — Lumos, the leading Identity Platform, has announced the acquisition of automation technology from Fastgen, a pioneering low-code development platform. This strategic move positions Lumos to accelerate the delivery of a complete identity platform on auto-pilot, boosting efficiency and speed of IT and security teams.
Lumos manages access to apps and data with complete visibility, intelligent controls that drive the right actions and full-cycle automation across the identity lifecycle. The acquisition includes Fastgen's advanced workflow builder, which will be integrated into the Lumos platform, augmenting identity lifecycle management, identity threat detection and response (ITDR) and spend optimization capabilities. With powerful custom workflows, customers can drive the right decisions from data at high velocity - driving down security risks and unnecessary spend.
"By incorporating Fastgen's innovative technology, we are taking a significant leap forward in our mission to unlock access to all technology across humans and machines. This acquisition aligns perfectly with our goal to eliminate app and identity management bottlenecks, save time and decrease software spend for our customers”, said Andrej Safundzic, CEO & Co-Founder of Lumos.
"We are proud that our technology will power Lumos's new identity capabilities. This transaction underscores the value of what we’ve built and ensures it will continue to drive efficiency for global organizations", said Mike Mahlkow, CEO of Fastgen.
As part of the deal, Fastgen will focus its remaining resources on advancing AI-driven innovations. The company sees this transition as an opportunity to lead in the AI space while transitioning the technology to enhance Lumos platform capabilities.
"This deal with Lumos validates the strength of our technology. We are excited to see it applied at Lumos at scale, reinforcing our joint commitment to innovation and rapid execution", said Constantin Schreiber, Co-founder of Fastgen.
With this first-of-its-kind acquisition, Lumos solidifies its position as a leader in identity security, offering enhanced solutions that empower organizations to work smarter and safer with the power of software.
Financial terms of the deal were not disclosed. For more information on Lumos, please visit www.lumos.com.
About Lumos:
Lumos is the first complete identity platform to automatically discover and manage access across all your apps. Instead of being overwhelmed by the sprawl of apps and access, Lumos empowers organizations with one unified solution that controls access on auto-pilot. With Lumos, gain full visibility, enhance security, and boost productivity — all in one platform. Trusted by hundreds of companies, Lumos powers millions of access requests across global companies. Learn more: https://www.lumos.com
About Fastgen:
Fastgen is a New York and Berlin-based technology company. Founded in 2023, Fastgen is now fully focused on leveraging the power of AI to deliver transformative technologies for the future of business.
