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Existing investors including Andreessen Horowitz, General
Catalyst, 8VC, Accel and DCVC were among the participants in the
Series D round, which brought total funding to $267 million,
Illumio said.
The new funding valued Sunnyvale, California-based Illumio at
$1.18 billion, up from $1 billion in an April 2015 financing
that raised $100 million, according to PitchBook Data.
The company declined to comment on that estimate.
Illumio sells software that large organizations use to segment
computers from each other in a bid to prevent hackers from
gaining access to large networks by compromising a single
machine. Competitors include VMware Inc <VMW.N> and Cisco
Systems Inc <CSCO.O>.
The company plans to use the funds to expand its sales,
marketing and customer service operations as it enters new
markets in Europe and Asia, Chief Executive Andrew Rubin said in
a telephone interview.
Rubin said he is focused on growth, not turning a profit,
because the company wants to establish itself as a leader in the
rapidly-growing market for network segmentation technology.
He declined to discuss the company's sales performance or
targets.
"We've been fortunate to be well-funded since very early on,"
Rubin said. "Profitability is not an issue in a rapidly-growing
space - as long as you are growing rapidly and leading."
Illumio has about 100 customers including JPMorgan Chase & Co <JPM.N>,
Morgan Stanley <MS.N>, Salesforce.com Inc <CRM.N> and Workday
Inc <WDAY.N>, Rubin added.
(Reporting by Jim Finkle in Toronto, editing by G Crosse)
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