Team8, a Tel Aviv, Israel-based cybersecurity company-creation platform, raised $23m in funding.
Backers included Quantum Strategic Partners, AT&T, Accenture, Nokia, Mitsui, and Temasek and existing investors Cisco, Alcatel-Lucent, Bessemer Venture Partners, Marker LLC and Eric Schmidt’s Innovation Endeavors.
Co-founded by Nadav Zafrir, Israel Grimberg and Liran Grinberg, all veterans of Unit 8200 (the equivalent of America’s National Security Agency), Team8 creates cybersecurity companies leveraging a research group with knowledge of both offensive and defensive aspects of cybersecurity, cyber talent, and a global network that gives access to customers, partners and influencers,
Launched in February 2015, Team8 launched illusive networks, a market leader in deception technology, which recently announced a $22 million B Round of funding, led by NEA and including participation from Citi Ventures, and is to launch two more companies in 2016.
In addition to the funding, the firm has added Ronit Benbasat Rom, former VP Human Resources at Check Point (worldwide), to its management team as VP Human Resources to support its recruiting efforts. Team8 plans to recruit an additional 150 people in 2016 following over 120 people hired to its portfolio companies in 2015.