NEW YORK (Reuters) – Cyber security firm Illumio said on Thursday it raised $65 million in a funding round led by J.P. Morgan Asset Management that will be used to help the money-losing company expand outside the United States.
The investment values the company at a “significant” increase from its previous round, Chief Executive Andrew Rubin told Reuters. He declined to be more specific.
Illumio raised $125 million in a June 2017 round that valued it at $1.18 billion, according to Pitchbook.
Six-year-old Illumio’s investors include 8VC, Accel, Andreessen Horowitz, DCVC and General Catalyst. It 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 and Cisco Systems Inc.
Rubin said the company was open to making acquisitions to bolster its technology offerings and also bring in talent from acquired companies.
The company has raised more than $332.5 million to date.
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