October 7, 2020 | technology | No Comments
Illusive Networks, a cybersecurity startup specializing in defense and deception, today announced $24 million in venture funding. The company says the investment will be used to accelerate its next phase of growth, driven by a go-to-market strategy that focuses on sales and marketing expansion, with an emphasis on product enhancements for securing cloud workloads.
Damage related to cybercrime is anticipated to hit $6 trillion annually by 2021, according to Cybersecurity Ventures. Corresponding with this rise, Gartner reports that worldwide spending on cybersecurity is expected to reach $133.7 billion in 2022.
Illusive, which was founded in 2014 by Tel Aviv-based incubator Team8 and Ofer Israel, provides software that detects cyber attackers who penetrate a network while delivering logs to threat intelligence teams. Modular components work together or separately to preempt, detect, and respond to cyberattacks, allowing customers to see their networks as an attacker would and prioritize activity based on risk