Cybersecurity startup Illumio just raised $65 million and hired a CFO
Cybersecurity startup Illumio just raised a major round of funding that will help it take on Cisco and VMware. And on top of that, it just hired a CFO, ahead of its grand vision of going public some day.
On Thursday, Illumio announced the closing of $65 million in Series E funding, in a round led by clients advised by J.P. Morgan Asset Management. In total, it has raised $332.5 million in funding.
Although he did not disclose its valuation, CEO and co-founderAndrew Rubin says it's was "a significant uptick from our series D" in 2017. At that time, Illumio had a valuation of $1.18 billion, according to Pitchbook.
Illumio also announced it hired Anup Singh, who had previously worked as CFO of Anaplan. Illumio declined to comment on the possibility of one day going public, but having a CFO will help it build a sustainable and durable company that will make it possible to, perhaps, have an IPO, says Rubin.
"Whether we have an IPO along or not remains to be seen, but the reason why I joined is to continue to scale the company to the next level," Singh told Business Insider. "The company has a lot of opportunities to grow to a very large company. We have built a world class team. I'm super excited to work alongside the team in continuing to build the company."
Illumio, which started six years ago, has grown to a 330-person global company. With the funding, Illumio plans to expand the company's footprint and market strategy.
Rubin recalls that when he first co-founded the company, the service Illumio provides — a specific type of cybersecurity tech, called segmentation — wasn't very well known. Illumio's brand of segmentation creates virtual "zones" in data centers and the cloud, so that that each applications can be individually isolated and secured.
"In all early markets, it feels like you have to evangelize why something is important," Rubin told Business Insider. "We do not feel that way anymore. The market and customers have come around to the realization that segmentation is no longer something that seems interesting and new."
source businessinsider
Industry: Cyber Security News
Latest Jobs
-
- Infrastructure (Network / Security) Engineer | West London commutable | Permanent
- London
- Apply today
-
Infrastructure (Network / Security) Engineer | West London commutable | Permanent This is an in house opportunity. Looking for someone that has on prem / data center experience MUST be a currently hands on config, Install, upgrade, troubleshooting experience Routing, Switching, Network Security (firewall, IDS etc), Microsoft Active Directory / 365. VMWare Scripting / automation experience wanted. Python, Powershell etc Must be commutable to West London twice a week. Visa sponsorship not available. Apply today for more information Book a call via this link https://calendly.com/d/crqf-t28-7tb
-
- Identity & Access Management Architect
- Edinburgh
- Upto £95000 plus bonus and benefits
-
Location: Edinburgh | Hybrid Working | Permanent Are you an experienced Identity & Access Management professional with a passion for designing and implementing cutting-edge security solutions? We are looking for a Lead Architect, where you’ll play a key role in helping clients enhance their IAM capabilities, protect critical data, and navigate complex security challenges. About the Role As a Lead Architect, you will be responsible for shaping and delivering IAM strategies, designing robust security solutions, and driving long-term digital transformation. You’ll leverage your expertise to provide strategic guidance on areas such as: Identity Governance & Administration (IGA) Privileged Access Management (PAM) Access Management (AM) Entitlement Management Directories & Authentication Solutions You will have the opportunity to work with innovative technologies and frameworks, ensuring that businesses can securely manage access to critical assets while enabling growth. What You’ll Be Doing Providing subject matter expertise in IAM and leading transformation projects for clients Developing IAM roadmaps, operating models, and governance frameworks Driving innovation by integrating IAM capabilities into wider digital transformation strategies Building and maintaining strong relationships with clients and stakeholders Designing and implementing scalable IAM solutions to meet business needs What We’re Looking For Proven experience in IAM strategy, solution architecture, or assurance Strong leadership skills with experience guiding technical teams Ability to work in a client-facing role, delivering clear communication and insights A technology-focused, innovative mindset with strong business acumen Willingness to work from our Edinburgh office 2-3 days per week