Former Israeli Intelligence Officers Get $18 Million to Launch Incubator for Cyber Security Startups

Team8

Team8, a startup company belonging to a group of retired Israeli intelligence officers, announced today the closing of an $18 million funding round.

The group, which is well connected to the IDF, will identify cyber security technologies and startups, to help bring them to market.

CEO Nadav Zafrir, the former head of IDF Unit 8200, which the Wall Street Journal described as Israel’s NSA or GCHQ, said Team8 will focus on nurturing cyber-security start-ups.

The group also includes Israel Grimberg, the former head of Unit 8200’s cyber division.

Some of Team8’s current companies provide security solutions for financial institutions and heavy industry.

Zafrir wants to hire mostly Unit 8200 and other IDF technology service veterans.

Team8’s investors in this funding round include Alcatel-Lucent ALU.FR +1.63%, Cisco Investments, Marker Financial Advisors LLC, Bessemer Venture Partners, and Google Chairman Eric Schmidt’s Innovation Endeavors.

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