J.P. Morgan leads $125m funding round into data centre and cloud cybersecurity startup
Venture investors Andreessen Horowitz, General Catalyst, 8VC, Accel and Data Collective (DCVC) all participated, alongside new and other existing investors.
California-based Illumio has raised $125m in a Series D founding round led by J.P. Morgan Asset Management which will see the company invest in growing its data centre and cloud security portfolio.
Hailed as “one of the largest and most critical opportunities in enterprise technology and cybersecurity” by Illumio, the protection of data centres and cloud environments is today crucial for the growth of the digital economy.
The new round now closed has brought the company’s total raised cash to $267m. Existing venture investors Andreessen Horowitz, General Catalyst, 8VC, Accel and Data Collective (DCVC) all participated, alongside new and other existing investors.
The new capital will be used to invest in the global expansion of field sales, marketing and customer support, as well as continued product R&D.
These investments will enable the company to accelerate its goal of making adaptive segmentation the foundation for cybersecurity in every enterprise data centre and public cloud.
Illumio has registered annualised bookings growth of 400% from the first (2013) to second year in market.
The company counts as customers nine of the largest 15 financial companies in the US, as well as four of the top seven SaaS providers, including many that have purchased over $1m annually of software.
Andrew Rubin, CEO and co-founder of Illumio, said: “We are very excited to partner with a group of investors led by J.P. Morgan Asset Management to accelerate our mission to protect every data centre and cloud through adaptive segmentation.
“The security segmentation market is already a multi-billion-dollar opportunity and Illumio’s traction with customers such as Salesforce, Morgan Stanley and Workday demonstrates that the Illumio Adaptive Security Platform can solve these challenges at scale.”
Larry Unrein, Global Head of J.P. Morgan Asset Management’s Private Equity Group, said: “Given the exponential growth of cybersecurity risks, it is clear that segmentation is now one of the largest market opportunities in enterprise software.
“Through our due diligence process, which included speaking with a number of Illumio’s key customers, we learned the company’s adaptive segmentation technology is designed to address these threats and offers a range of options without all of the manual work normally associated with traditional segmentation solutions.”