illusive networks Announces Series B Funding Extension

NEW YORK and TEL AVIV, Israel, May 16, 2016 /PRNewswire/ -- 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.

About illusive networks

illusive networks is pioneering deception-based cybersecurity with its patent-pending Deceptions Everywhere® technology that neutralizes targeted attacks and Advanced Persistent Threats (APT) by creating a deceptive layer across the entire network. By providing an endless source of false information, illusive networks disrupts and detects advanced attacks with real-time forensics and without disruption to business. For more information, please visit www.illusivenetworks.com or follow @illusivenw on Twitter.

illusive networks is led by CEO Shlomo Touboul, a proven cybersecurity CEO and entrepreneur.  illusive networks was founded by VP R&D Ofer Israeli, Check Point veteran, together with leading cybersecurity foundry Team8. Nadav Zafrir, CEO of Team8 and former Head of the IDF's Intelligence Unit 8200, serves as illusive network's Chairman of the Board.

SOURCE illusive networks

Related Links

http://www.illusivenetworks.com