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Illumio today announced that it has raised $ 225 million in a Series F funding round led by Thoma Bravo, Franklin Templeton, Hamilton Lane and Blue Owl Capital also investing in the developer of zero security software trust. Illumio’s latest round of funding sets the company’s valuation at $ 2.8 billion.
Illumio, headquartered in Sunnyvale, Calif., Plans to spend its newfound wealth in two main areas, go-to-market and product innovation, CEO and co-founder Andrew Rubin told VentureBeat on Wednesday. . Rubin said the new funds would help plans expand Illumio’s presence in more global markets and grow its network of partners.
The company aims to do more joint go-to-market activities with system integrator partners and start working with Managed Security Service Providers (MSSPs), a category of solution providers that the company does not have. not yet exploited, he said.
“We’ve spent a lot of time thinking about how to put these resources to work and getting to market is definitely a problem. 1 for us, while innovation is also something that we will always do as a technology company. We want to see a significant increase in our channel, where we want to have a stronger voice, a market leading voice in zero trust segmentation, ”said Rubin.
Founded in 2013, Illumio has been recognized for its zero-trust approach to security, which promises real-time detection, mitigation and containment of cyber threats before they can spread and destroy entire networks. Illumio was ranked among the top rated zero trust software developers in the latest Forrester Zero Trust Wave Rank alongside companies like Akamai Technologies, Cisco and Palo Alto Networks.
Rubin said Illumio just ended its strongest quarter and attracted the most new customers per year in the company’s history in its just ended fiscal year. The company’s main products are Illumio Core and Illumio Edge, which provide a cloud-native method for segmenting hybrid and multicloud IT assets in the data center and at the edge of the network.
Illumio’s approach is to rapidly inoculate workloads and data repositories against cyber attacks to minimize damage from a breach to applications, containers, clouds, data centers and endpoints. .
Stop a leak – Stop a flood
Illumio believes that old detection-based methods of protecting against cyber threats are not enough to mitigate risk in today’s more dangerous and complex security environment. Rubin pointed out a a wave of recent high-profile cyber attacks, including Colonial pipeline, the SolarWinds Violation, and JBS United States, as proof that the danger and impact of such incidents are more serious than ever.
“We have a security model based on the overlay of detection levels that have been increasing in number for decades. But look at the last 180 days: When things go wrong when it comes to security, the results are catastrophic. Detection is still part of a strong security posture, but it’s not enough anymore and these recent breaches are proof of that, ”said Rubin.
Rather than waiting for a threat to be detected, zero-trust security treats networks, systems and people as if they are still under attack, he said. This means that users and systems must constantly authenticate themselves and prove that they belong to the digital spaces to which they have access, such as a network or file storage repository, and are authorized to perform the activities they attempt. .
Illumio’s zero-trust segmentation approach further strengthens this cybersecurity technique by allowing different parts of a network to be cut off from each other when contagion such as ransomware attempts to spread. Rubin described Illumio’s segmentation methods as similar to how a submarine has compartments that can be sealed when a leak occurs to prevent the entire ship from being flooded.
Join the summit
Rubin said decision-makers in IT organizations are prioritizing cybersecurity more than ever before and that extends to the C suite and to the highest levels of government.
“Adopting zero trust strategies has never been more important for organizations of all
as evidenced by the recent Biden administration decree on cybersecurity, ”he said, referring to last month’s decree. set new software standards for government agencies and the creation of a cybersecurity review board that will investigate major violations in the same way the Federal Aviation Administration (FAA) conducts aircraft accident investigations.
“In the past, when a breach happened, we would ask, ‘How much data has been stolen?’ We were still somewhat removed from the real impact of these incidents. But now we wonder about this impact in the real world. For example, will a breach result in shortages of fuel and gas lines that will affect our daily lives, immediately? Rubin said.
Illumio has seen a change in the way people perceive security when calling customers, he said. CIOs, CISOs and even CEOs “finally ask the right questions” about strategic risk mitigation and even drive conversations to zero trust and “assume we are violated even when we do everything right”.
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