Illumio, a Zero Trust Segmentation platform provider, has secured $225 million in a Series F funding round led by private equity firm Thoma Bravo. The round values Illumio at $2.75 billion.
With the funding, Illumio will invest in customer success and product innovation and its global partner strategy, the company said. Illumio also looks poised to enhance its Illumio Core platform.
Organizations can use Illumio Core to visualize, protect and control lateral movement across clouds or data centers, the company indicated. That way, they can isolate cyberattacks and stop breaches from spreading.
Furthermore, Illumio Core shows organizations how applications communicate with one another, the company noted. It provides vulnerability exposure insights and allows organizations to create segmentation policies that work on bare-metal, virtual machines and containers.
Illumio Core also enables organizations to protect across clouds and data centers at any scale, the company pointed out. The platform is available as a SaaS offering or on-premises.
What Does the Future Hold for the Global Zero Trust Security Market?
The global Zero Trust security market is projected to expand at a compound annual growth rate of 17.4 percent between 2020 and 2026 and could be worth approximately $51.6 billion by 2026, according to industry analyst MarketsandMarkets. As such, the number of investments in Zero Trust security companies could increase in the foreseeable future.
Many MSSPs and MSPs may deliver Zero Trust security solutions in the years to come, too. By doing so, MSSPs and MSPs can bolster their portfolios and help organizations guard against a wide range of cyber threats.