Cybersecurity startup Illumio just raised $65 million and hired its first CFO, as it pushes a new kind of cloud security tech

Business Insider | 2/8/2019 | Rosalie Chan
trainman (Posted by) Level 3
Click For Photo:

On Thursday, cybersecurity startup Illumio announced it closed $64 million in Series E funding.

It also hired Anup Singh, who previously worked at Anaplan, as CFO.

Illumio - Singh - Board - CFO - Company

Illumio says that having Singh on board as CFO will help build a durable company for the long run, but won't commit to holding an IPO.

Illumio, a competitor of Cisco and VMware, helps its customers tackle cybersecurity by isolating individual apps on a network, securing them separately from each other.

Cybersecurity - Illumio - Round - Funding - Cisco

Cybersecurity startup Illumio just raised a major round of funding that will help it take on Cisco and VMware. And on top of that, it just hired a CFO, ahead of its grand vision of going public some day.

On Thursday, Illumio announced the closing of $65 million in Series E funding, in a round led by clients advised by J.P. Morgan Asset Management. In total, it has raised $332.5 million in funding.

Valuation - CEO - Co-founder - Andrew - Rubin

Although he did not disclose its valuation, CEO and co-founder Andrew Rubin says it's was "a significant uptick from our series D" in 2017. At that time, Illumio had a valuation of $1.18 billion, according to Pitchbook.

Illumio also announced it hired Anup Singh, who had previously worked as CFO of Anaplan. Illumio declined to comment on the possibility of one day going public, but having a CFO will help it build a sustainable and durable company that will make it possible to, perhaps, have an IPO, says Rubin.

IPO - Along - Reason - Company - Level

"Whether we have an IPO along or not remains to be seen, but the reason why I joined is to continue to scale the company to the next level," Singh told Business Insider. "The company has a lot of opportunities to grow to a very large company. We have built a world class team. I'm super excited to work alongside the team in continuing to build the company."

Illumio, which...
(Excerpt) Read more at: Business Insider
Wake Up To Breaking News!
Why do democrats never have to face the reality of what's on the ground, like 2000 years of marriage.
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!