Israeli cyber security company illusive networks today announced a strategic investment by Microsoft Ventures. The company said that the new funding will be used to advance global expansion, invest in sales and marketing, and expand the engineering and support teams for the company's patent-pending cybersecurity deception technology.
Microsoft Ventures joins current investors New Enterprise Associates (NEA), Bessemer Venture Partners, Marker LLC, Citi Ventures, Cisco Investments, and Eric Schmidt's Innovation Endeavors. Illusive networks had previously raised $30 million but did not disclose the size of the latest investment.
illusive networks was founded by Israeli cybersecurity think tank and venture creation foundry Team8. Earlier this month Microsoft Ventures also announced that it was investing in Team8.
illusive networks CEO Ofer Israeli said, "Microsoft Ventures' investment opens a new world of opportunities for illusive networks to explore future deceptions in the world of endpoints and cloud and expand the reach of our deception technologies to users around the world."
Microsoft Ventures general manager Mony Hassid said, "illusive networks has the expertise to continue to evolve next-generation deception cybersecurity technology and protect enterprises against increasingly sophisticated advanced attacks. We're pleased to support illusive networks as they work to make their deception technology the market standard."
illusive networks deception technology is deployed across dozens of leading financial institutions, insurance, retailers, law firms, healthcare providers, energy and telecommunication companies in the US, EMEA and APAC.
Published by Globes [online], Israel business news - www.globes-online.com - on January 24, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017