Illusive Networks Announces Series B Funding Extension
New York, NY and Tel Aviv, Israel May 16, 2016 – illusive networks, a cybersecurity company at the forefront of deception technology, today announced extending the Series B funding to $25M by investors New Enterprise Associates (NEA), Bessemer Venture Partners, Cisco Investments, Marker LLC, Citi Ventures, and Eric Schmidt’s Innovation Endeavors.
“We are pleased that our investors extended the round allowing us to continue our growth acceleration to supply the increased demand we are experiencing”, said Shlomo Touboul, CEO, illusive networks. “Cybersecurity needs an alternative to ‘old school honeypots’ that are failing to effectively detect advanced attacks. Attacker View™ technology coupled with the Deceptions Everywhere® solution enables IT professionals for the first time to view all of the possible attack paths an advanced attacker can use for malicious lateral movement. With these critical insights, IT professionals can now deploy deceptions across the network forcing the attacker to place a bet on which information is real.”
illusive networks’ solutions are deployed across leading financial institutions, insurance, retailers, law firms, healthcare providers, and energy and telecommunication companies in both the United States and EMEA. illusive networks’ detection by deception technology has identified numerous advanced attacks that went undetected by other solutions, thereby securing its customers’ networks from Advanced Persistent Threats (APT).
Launched in June 2015, illusive networks raised a $5M Series A round from cybersecurity foundry Team8. The $25M Series B round is aimed at further fueling the startup’s global expansion through significant expansions of sales and marketing, as well as expansion of engineering and support teams for the company’s patent-pending deception technology.