New funding will expand investment in customer success, product innovation, and global partner strategy
SUNNYVALE, Calif.—Illumio, the pioneer and leader of Zero Trust Segmentation, today announced a $225 million Series F funding round at a $2.75 billion valuation. The round is led by Thoma Bravo and is also supported by Franklin Templeton, funds managed by Hamilton Lane, and Owl Rock, a division of Blue Owl Capital.
Cyberattacks and ransomware are more successful than ever. We are witnessing the most catastrophic breaches in history on a regular basis, despite security spending that is expected to top $150 billion* this year. Colonial Pipeline, JBS, Microsoft Exchange and daily incidents of smaller ransomware payouts prove that legacy security does not provide adequate protection, and the entire security model is in question. A Zero Trust strategy is the new model, designed to assume breach at all times. While no single product or platform equals a complete Zero Trust approach, segmentation is a core pillar of every Zero Trust strategy.
Illumio pioneered Zero Trust Segmentation, and the company’s SaaS platform makes it easy to deliver automated enforcement in minutes, dramatically reducing risk by stopping successful cyberattacks and ransomware from moving to other applications, clouds, containers, data centers, and endpoints. Many Fortune 100 companies and hundreds of global enterprises are using Illumio today, including the three top enterprise SaaS companies, five of the leading insurance companies, and six of the ten biggest banks in the world.
“Adopting Zero Trust strategies has never been more important for organizations across all industries, as the Biden Administration’s recent cybersecurity Executive Order demonstrates. This investment signals that now is the time to reimagine the cybersecurity model as we know it, with Zero Trust Segmentation playing a fundamental role in this strategic shift,” said Andrew Rubin, CEO and co-founder of Illumio. “With this funding, we will accelerate our innovation in product and engineering, further invest in customer success, and build upon our global partner strategy.”
Illumio provides fast, simple, cloud-native Zero Trust Segmentation. Illumio Core and Illumio Edge make it easy to segment your hybrid, multi-cloud IT estates and to secure workloads at any scale, from 100 to 100,000+ workloads. Illumio delivers intelligent visibility, a radically simple policy creation engine, and automated segmentation and enforcement in minutes. Illumio’s unique approach to stopping the spread of cyber disasters has fueled the fastest period of growth in company history with highlights including:
- Being named as a Leader in Zero Trust platforms by Forrester Research in The Forrester Wave™: Zero Trust eXtended (ZTX) Ecosystem Platform Providers, Q3 2020 report
- Closing the strongest quarter (Q4 for the fiscal year ended January 31, 2021) in company history and highest number of new customers in a fiscal year
- Achieving international annual recurring revenue (ARR) growth of more than 100 percent
- Gaining significant traction in the Illumio federal business including the recent win of a U.S. Air Force SBIR Award
“As the volume and sophistication of cyberattacks increases, Zero Trust Segmentation is set for a breakthrough moment, and Illumio is the clear market leader,” said Robert (Tre) Sayle, a partner at Thoma Bravo. “Illumio plays a critical role in protecting some of the largest organizations in the world and is well-positioned to build upon its record-breaking growth with continued sales momentum and product innovation. We look forward to partnering with the talented Illumio team and leveraging Thoma Bravo’s significant security and operational expertise as we embark on an initiative to invest in hyper growth software and technology companies.”
* “Gartner Forecasts Worldwide Security and Risk Management Spending to Exceed $150 Billion in 2021”, May 17, 2021. https://www.gartner.com/en/newsroom/press-releases/2021-05-17-gartner-forecasts-worldwide-security-and-risk-managem
Illumio, the pioneer and market leader of Zero Trust Segmentation, stops breaches from becoming cyber disasters. Illumio Core and Illumio Edge automate policy enforcement to stop cyberattacks and ransomware from spreading across applications, containers, clouds, data centers, and endpoints. By combining intelligent visibility to detect threats with security enforcement achieved in minutes, Illumio enables the world’s leading organizations to strengthen their cyber resiliency and reduce risk.
About Thoma Bravo
Thoma Bravo is one of the largest private equity firms in the world, with more than $78 billion in assets under management as of March 31, 2021. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm's deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired more than 300 companies representing over $85 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco. For more information, visit thomabravo.com.
Read the release on the Globe Newswire website here.