Israel-based cybersecurity incubator Team8 raised $23m in series B funding yesterday from investors including telecommunications firm AT&T, professional services firm Accenture, communications technology producer Nokia and conglomerate Mitsui.
Temasek, the investment firm owned by the Singapore government, and investment management firm Quantum Strategic Partners also supported the round, as did investment firm Marker and venture capital firm Bessemer Venture Partners.
Founded in February 2015, Team8 operates a startup foundry for cybersecurity companies. The incubator’s research group works closely with its strategic investors to create new businesses.
Team8 previously raised $18m in a series A round at the time of its launch from a consortium featuring telecoms equipment manufacturer Alcatel-Lucent and networking technology developer Cisco, which invested through its corporate venturing unit Cisco Investments.
Marker, Bessemer and VC fund Innovation Endeavors also participated in the series A round.
Team8 has launched one company to date, Illusive Networks, which most recently raised $22m in a series B round backed by financial services provider Citi. The incubator hopes to launch an additional two startups this year.
– This article was amended on 25/2 to reflect the disclosure of the presence of Marker and Bessemer in the series B round.