Cybersecurity "unicorn" Illumio raises $125 million
Illumio, a Sunnyvale, Calif.-based developer of "adaptive segmentation technology" to prevent cyber attacks, today announced that it has raised $125 million in new venture capital funding. No valuation information was disclosed for the Series D round, but the company was valued at around $1 billion in its Series C round last April. J.P. Morgan Asset Management led the new transaction, and was joined by return backers Andreessen Horowitz, General Catalyst, 8VC, Accel and Data Collective.
Big business: Illumio not only aims at the large end of the enterprise market ― nine of America's 15 largest financial companies are clients ― but also experiences massive volume within accounts, saying that a typical deployment secures 10,000 workloads. One even hit 32,000 workloads.
Bottom line: "While there are firewalls and a number of other cross-network security options, the idea behind Illumio is that by segmenting workloads, it's able to manage them and potential breaches better, and in cases where something bad has gotten through, contain them better to prevent a cascading or ripple effect." ― Ingrid Lunden, TechCrunch