In new financing round, Israeli cybersecurity venture studio Team8 has raised $85 million from a clutch of new and returning strategic investors including SoftBank, Walmart, Airbus, and M-12, Microsoft’s venture-capital arm.
The company’s previous rounds of funding included Cisco Investments, Nokia, Bessemer Venture Partners, Temasek and Innovation Endeavors. They have now joined the coalition.
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Temasek, Team8 investor, acquired Sygnia, earlier this month, for $250 million. Sygnia, a company from the venture studio’s portfolio that had only emerged from stealth a year ago.
Singapore investor Temasek acquires Israeli cybersecurity Startup Sygnia For $250 Million
Rather than simply viewing cybersecurity as a necessity, The Coalition will unlock its value through rethinking enterprise infrastructure, enabling new growth opportunities through infrastructure for networks, the Cloud, data, and computing.
The Tel Aviv-based company Team8 co-founded by Nadav Zafrir, Israel Grimberg, and Liran Grinberg, all veterans of the Israel Defense Forces Intelligence Unit 8200. The studio has invested in four companies that are currently active on the market and has another four that are still in stealth mode.
Team8 has raised $260 million to date and employs 370 researchers, scientists, engineers and analysts around the world.
The Coalition $85 million have secured to fund a series of companies led by Team8 studio model and its dedicated team.
According to a statement announcing the fund’s launch all Chief Information, Technology, Data and Security Officers from each of the member organizations will work together with Team8’s research, recruiting and business development teams to identify problems, ideate on disruptive solutions, validate the technology, hire talent and plan go-to-market approaches.
The committed fund will be invested at seed-level into each of the solutions, resulting in independently operating companies with shared ownership by the investors.
The commitment from our new partners illustrates the significance of our work to galvanize digital transformation across all industries,” says Team8 CEO Nadav Zafrir. “The synergy and insight from leaders in retail, aerospace, insurance, financial services and technology combined with our unrivalled cyber and data expertise at Team8 will enable companies to adopt new data-driven methods of working, ensuring they can retain their competitive advantage and thrive, in spite of cyber threats.”
“Rogue states, hackers, terrorists and criminals are intent on wreaking physical, financial and societal havoc and catastrophic damage on governments, corporations and individuals,” said Eric Schmidt, Founding Partner of Innovation Endeavors, a lead investor in the Team8 Coalition. “As data continues to proliferate and our technical capabilities expand, cyber attacks and wars will increase in number and intensity. Team8 has gathered the brightest minds from Israel and around the world to drive its think tank, industry coalition and innovation foundry. We, at Innovation Endeavors, are proud to partner with Team8 as it expands beyond cyber to solve imminent threats around data sharing, collaboration and machine learning.”
