Today, cybersecurity firm Illusive Networks announced a significant USD22 million Series B round. Bizjournals said that the Israeli firm raised the amount just four months shy of its Series A, which picked up USD5 million in funding.
The Series B funding was led by New Enterprise Associates, a new investor, and participated by Bessemer Venture Partners, Citi Ventures, Marker LLC, and Innovation Endeavors, Geektime said. Innovation Endeavors is reportedly founded in part by Google’s Eric Schmidt.
Illusive’s primary product is called Deceptions EverywhereTM approach, of which relies on deceptions that have been installed everywhere on a customer’s network, TechCrunch said. If an enterprising hacker acts or stumbles on the deceptions, it automatically launches a forensic application providing clients an opportunity to detect and take control of the situation while minimizing the effects of the attack.
Illusive VP of R&D Ofer Israeli told Geektime, “The Series B funding provides resources to scale more quickly. A year from now illusive networks will be protecting more customers, in more countries, in more market segments, using new counter measure deceptions to security problems that have not yet been envisioned by advanced hackers. Cyber attacks and cyber criminals are constantly changing their attack methods, [and] illusive will constantly evolve to block them.”
