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Security Unicorn Illumio Raises $65M, Hires a New CFO

February 08, 2019 / Jessica Lyons Hardcastle

Security unicorn Illumio raised $65 million in a Series E round and hired Anup Singh as its chief financial officer. The latest funding brings its total to $332.5 million and follows an even bigger $125 million Series D investment in June 2017. And — perhaps more importantly — it confirms that segmentation is a thing, says CEO and founder Andrew Rubin. “The amount, to me, was never the interesting part,” Rubin said. The significance of the Series E is two-fold, he added. First, Morgan Stanley is an Illumio customer, and clients advised by J.P. Morgan Asset Management led both the Series D and Series E rounds. “And second, it is continued validation that segmentation, or microsegmentation, is real,” Rubin said. “If you start a company that builds a firewall, there’s no debate about whether the firewall category is real. It’s been so for two decades. But when we started Illumio, the reality is segmentation didn’t even exist in c...