Team8, an Israel-based cybersecurity think tank and venture creation foundry backed by several corporate investors, has raised an undisclosed amount and added strategic partners to its syndicate.
Microsoft Ventures and Qualcomm Ventures, respective subsidiaries of software provider Microsoft and chipmaker Qualcomm, have joined Team8’s cyber syndicate along with financial services firm Citi, with which the foundry has also signed a strategic partnership agreement.
Team8 was founded by three members of Israel Defence Forces’ Technology & Intelligence Unit 8200, and is seeking to develop cybersecurity startups. Since its 2014 formation it has announced two such companies – Claroty and Illusive Networks – while additional startups are in stealth.
The company had previously raised more than $92m in funding from cyber syndicate members Cisco, AT&T, Accenture, Nokia, Temasek, Mitsui, Bessemer Venture Partners, Innovation Endeavors and Marker.
Nadav Zafrir, co-founder and CEO of Team8, said: “Our global cyber syndicate is one of the strongest in the world.
“Adding the powerful brands of Microsoft Ventures, Qualcomm and Citigroup will dramatically improve our research capabilities and access to the world’s biggest enterprises across a diverse arena of markets and industries.”