Sunnyvale, California-based cybersecurity company Illumio has confirmed raising a $65 million Series E investment. The latest investment round was led by a few clients who came onboard after advised by J.P. Morgan Asset Management.
The fresh round takes the total investment raised by the firm to $332.5 million and makes the firm as one of the top-funded cybersecurity company. The same investor had led the Series D round of investment where Illumio had picked $125 million in June 2017. The other investors in the company include notable names like Data Collective DCVC, General Catalyst, Andreessen Horowitz, Accel, 8VC, AME Cloud Ventures, and Kyle Widrick.
During the Series D round, the firm was valued close to $2 billion and as per one of the co-founder and CEO Andrew Rubin, the latest investment will take the valuation significantly higher. Notably, an IPO launch is also on the mind of the company; however, they have not made any official statement regarding this.
Rubin who started the firm along with PJ Kirner in 2013 commenting on the next aim said, “With this latest round of funding, we’re investing more in all parts of the business to meet market demand and continue to enable our customers to prevent the spread of breaches in their global infrastructures.” The latest investment according to the company will help them grow their business in Europe, the Middle East, and Africa. It will also help them expand in Asia and their current market of the U.S.
Notably, apart from picking up the investment, the firm has hired Anup Singh as their CFO Anup had 25 years of financial leadership experience with various firms. He was serving as the CFO of high-growth firm Anaplan. He has worked with the likes of Nimble Storage, Clearwell Systems, and Asurion.
The firm which counts the names like BNP Paribas, Morgan Stanley, Oracle NetSuite, and Salesforce as their client compete with firms like Bromium, Tanium, Shape Security and Ionic Security. The fresh capital infusion would mean that Illumio will have a slight edge over the others.
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