Illumio Partners to Gain from $225 Million Funding Round at $2.75 Billion Valuation

Illumio partners will benefit directly from a new a $225 million Series F funding round at a $2.75 billion company valuation.

Thoma Bravo led the funding round. It’s also supported by Franklin Templeton, funds managed by Hamilton Lane, and Owl Rock, a division of Blue Owl Capital. Illumio provides zero trust segmentation.

Its SaaS platform delivers automated enforcement. It reduces risk by stopping successful cyberattacks and ransomware from moving to other applications, clouds, containers, data centers and endpoints.

‘Game-Changer’ for Illumio Partners

Illumio’s Andrew Rubin

Andrew Rubin is Illumio‘s CEO and co-founder. He said the funding round will be a “game-changer” for Illumio partners.

“We plan to make a very significant investment into our channel partner network and systems integrator partners, not just in the U.S., but globally as well,” he said. “As customer demand for a managed service around zero trust segmentation skyrockets, especially due the Biden Administration’s executive order and memo to corporate leaders, Illumio is investing in product innovations that will allow our offerings to run even better inside an MSSPs internal environment.”

As soon as this year, Illumio expects to source most of its business through the channel, Rubin said. Furthermore it’s in the process of enhancing products to make them more operationally friendly for MSSPs.

“Channel partnerships have always been key to Illumio’s growth,” he said. “And our partners will continue to be an important focus as we accelerate our go-to-market strategy.”

Many Fortune 100 companies and hundreds of global enterprises are using Illumio. That includes the three top enterprise SaaS companies, five of the leading insurance companies, and six of the 10 biggest banks in the world.

Expanding Globally

When Illumio first entered the market, it focused primarily on customers in the United States, Rubin said. Now, enterprises use Illumio across the globe.

“As we expand our internal team across EMEA and APAC, we plan to leverage the channel to support more international customers in Japan, the Middle East and other regions,” he said. “After all, cybersecurity is a global crisis. When the Colonial Pipeline was breached in the U.S., ransomware attacks around the world continued. In May, the same group behind the Colonial Pipeline breach (DarkSide) also attacked a European unit of Japanese tech giant Tobisha, compromising over 740 GB of data that included passport information.”

Zero trust segmentation has been a key pillar in mitigating catastrophic ransomware attacks, Rubin said.

“Today, a company’s competitive edge is based on having an ‘assume breach’ mentality,” he said. “Hope is no longer a strategy. A zero trust segmentation approach not only provides a competitive advantage, but is also crucial in protecting critical data and infrastructure. For the first time, we’re watching breaches have a physical, real-world impact and become a top priority for national security. This funding round will allow us to accelerate our innovations in product and engineering, so that Illumio can uphold its role as the market leader in zero trust segmentation and bolster cyber resiliency in every sector.”

Robert Sayle is a partner at Thoma Bravo.

“Illumio plays a critical role in protecting some of the largest organizations in the world and is well-positioned to build upon its record-breaking growth with continued sales momentum and product innovation,” he said. “We look forward to partnering with the talented Illumio team, and leveraging Thoma Bravo’s significant security and operational expertise as we embark on an initiative to invest in hyper-growth software and technology companies.”