Israel-based cybersecurity company Illusive Networks secured $22m in a series B round featuring Citi Ventures, financial services group Citi’s strategic investment arm.
The round was led by venture capital firm New Enterprise Associates and also included VC firms Bessemer Venture Partners and Innovation Endeavors, and investment firm Marker.
Illusive is the developer of Deceptions Everywhere, a cybersecurity system that in addition to discovering breaches, creates a deceptive layer around a network, disrupting threats by supplying reams of false information
Team8, the cybersecurity foundry and VC firm backed by telecommunications equipment maker Alcatel-Lucent and networking technology provider Cisco, launched Illusive with $5m of series A funding in June this year.
Illusive will spend the series B capital on sales and marketing, and on expanding its engineering and product support teams.