Illumio, a self-styled zero trust unicorn, has closed a $225 million Sequence F funding round at a $2.75 billion valuation.
The round became once led by Thoma Bravo, which no longer too lengthy ago sold cybersecurity supplier Proofpoint for $12.3 billion, and supported by Franklin Templeton, Hamilton Lane and Blue Owl Capital.
The round lands extra than two years after Illumio’s Sequence E funding round at some stage in which it raised $65 million and fueled speculation of an impending IPO. The corporate’s founder, Andrew Rubin, restful isn’t ready to be pressed on whether or no longer the corporate plans to dart public, though he knowledgeable TechCrunch: “If we carry out our job actual, and if we invent our potentialities a success, I’d devour to direct that might perchance be phase of our scuttle.”
Illumio’s most up-to-date funding round is well timed. No longer totally does it come amid a substantial rise in a success cyberattacks that time out a pair of of the extra frail cybersecurity measures are no longer working, from the SolarWinds hack in early 2020 to the extra most up-to-date assault on Colonial Pipeline, but it surely also comes supreme weeks after President Joe Biden issued an executive account for pushing federal companies to implement critical cybersecurity initiatives, including a zero trust architecture.
“And good a pair of weeks ago, Anne Neuberger [deputy national security adviser for cybersecurity] keep out a memo on White Condo stationary to all of company The United States announcing we’re living by a ransomware pandemic, and here’s six issues that we’re imploring you to carry out,” Rubin says. “Thought to be one of them became once to section your network.”
Illumio makes a speciality of defending data products and companies and cloud networks by something it calls microsegmentation, which it claims makes it more uncomplicated to carry watch over and guard against skill breaches, to boot as to fetch a breach if one happens. This zero trust manner to security — a blueprint centered on the blueprint that that agencies might perchance presumably additionally neutral restful no longer automatically trust something else within or start air its perimeters — has never been extra crucial for organizations, in accordance with Illumio.
“Cyber occasions are no longer constrained to cyberspace,” says Rubin. “That’s why folk are in the end announcing that, after 30 years of relying totally on detection to carry us protected, we will no longer rely on it 100% of the time. Zero trust is now changing into the mantra.”
Illumio tells TechCrunch this is in a position to presumably utilize the newly raised funds to invent a “substantial” funding in its self-discipline operations and channel companion network, and to invest in innovation, engineering and its product.
The gradual-stage startup, which became once founded in 2013 and is primarily primarily primarily based in California, says extra than 10% of Fortune 100 firms — including Morgan Stanley, BNP Paribas SA and Salesforce — now utilize its know-how to offer protection to their data products and companies, networks and other capabilities. It seen 100% worldwide declare at some stage in the pandemic, and says it’s also broadening its customer unsuitable across extra industries.
The corporate has now raised extra $550 million from investors including Andreessen Horowitz, Traditional Catalyst and Formation 8.