February 24, 2016 | Israeli cyber security incubator-investor Team8 has closed a $23 million financing round, including strategic partners AT&T, Accenture, Nokia, Mitsui, and Temasek, as well as additional funding from 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 the Israel Defense Forces Intelligence Unit 8200 (the equivalent of America’s National Security Agency), Team8 runs its own cyber security research groups, from which it spins out companies in which it then invests. Since its launch in February 2015, Team8 established Illusive Networks and is on pace to found two more companies in 2016. Developer of deception technology that protects against Advanced Persistent Threats (APT), Illusive Networks recently announced a $22 million B Round of funding, led by NEA and including participation from Citi Ventures.
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