illusive networks, a Tel Aviv, Israel-based cybersecurity company providing security deception technologies, raised $22m in Series B funding.
The round was led by new investor New Enterprise Associates (NEA), with participation from Bessemer Venture Partners, Marker LLC , Citi Ventures, and Eric Schmidt’s Innovation Endeavors. In conjunction with the funding, Kittu Kolluri, General Partner at NEA, will join illusive networks’ Board of Directors.
The company intends to use the funds for global expansion investing in sales and marketing, as well as expanding the engineering and support teams.
Founded by VP R&D Ofer Israeli and led by Shlomo Touboul, CEO, illusive networks is pioneering deception-based cybersecurity with patent pending Deceptions Everywhere™ technology that neutralizes targeted attacks and Advanced Persistent Threats (APT) by creating a deceptive layer across the entire network.
The solution is deployed across dozens of financial institutions, insurance, retailers, law firms, healthcare providers, energy and telecommunication companies in the United States and EMEA.
Launched in June 2015, the company had previously raised $5M in a Series A round from cybersecurity foundry Team8.