Press Release January 14, 2016

Illusive Networks Hires First Channel Chief to Launch 100% Channel Sales Strategy

NEW YORK AND TEL AVIV, Israel, Jan. 14, 2016 – illusive networks, the leader in Deceptions Everywhere™ cybersecurity, today announced that security industry veteran Tracy Pallas is joining the company as Vice President of Global Channel Sales. As the company’s first Channel Chief, Pallas will lead its new 100% channel sales strategy, focusing on launching a Partner Program, selecting and signing strategic go-to-market partners globally, and building marketing programs around channel demand generation to ensure rapid pipeline growth.

The executive team expansion follows a $22 million Series B funding round in October led by new investor New Enterprise Associates (NEA), one of the world’s largest and most active venture capital firms. The round included participation from new and existing investors Bessemer Venture Partners, Marker LLC, Citi Ventures, and Eric Schmidt’s Innovation Endeavors. The latest round came just four months after $5 million Series A funding from leading cybersecurity foundry Team8.

illusive networks is deployed at leading financial institutions, insurance, retailers, law firms, healthcare providers, energy and telecommunication companies. Launching a 100% channel strategy enables illusive networks to scale quickly and accelerate its upward trajectory.

“illusive networks continues on a fast growth path, fueled by recent Series B funding and customer demand,” said Shlomo Touboul, CEO, illusive networks. “We are focusing on the channel this early in our company’s history because we believe partners play a critical role as trusted advisors in helping customers to define and implement their security strategies. With Tracy Pallas at the channel’s helm, we have an industry veteran who has repeatedly built successful channel programs that drive increased partner productivity and accelerated revenue growth globally.”

With a career that spans over 20 years of direct sales, channel sales, marketing and consulting experience, Pallas is a proven security industry executive who brings a long line of successes to illusive networks most recently serving as Sr. Director of Americas Channel at Extreme Networks where she doubled the investment in the channel team and implemented a strategic coverage model to increase the productivity of Extreme’s top partners by 15% in just six months.  Previously, she was Vice President of Americas Channels at Palo Alto Network, where she grew the channel by 60% annually. Pallas’s security background also includes roles within Cisco, IronPort Systems, Counterpane Internet Security, Internet Security Systems.

“At illusive networks, the channel is the core strategy for revenue and scale,” said Pallas. “illusive networks’ technology represents a huge advance in cybersecurity. All facets of the company, including enablement, marketing, operations and sales, will be developed and supported based on the critical role we are asking partners to play.  The focus for the next 12 months will be evangelizing illusive’s go-to-market channel strategy and launching a channel program centered around profitability to ensure a high level of mindshare and execution from our channel partners — all of which will accelerate our growth.”

illusive networks’ detection by deception technology has identified numerous advanced targeted attacks that went undetected by other solutions, thereby securing its customers’ networks from Advanced Persistent Threats (APT).