Team8, Israel’s leading cybersecurity think tank and venture creation foundry today announced that it has added Microsoft Ventures to its global cyber syndicate. They will use the new funding for developing disruptive companies that address the biggest problems in cybersecurity.
Microsoft Ventures, Qualcomm Ventures and Citigroup join current Team8 cyber syndicate members Cisco, AT&T, Accenture, Nokia, Temasek, Mitsui, Bessemer Venture Partners, Eric Schmidt’s Innovation Endeavors and Marker LLC.
“Israel’s tech ecosystem is well-known worldwide for its innovation and creativity, and its expertise in cybersecurity truly stands out,” said Nagraj Kashyap, Corporate Vice President, Microsoft Ventures. “Microsoft will work closely with Team8 to explore and research some of the major challenges the world is facing with cybersecurity today.”
Team8 was founded by veterans of the IDF’s Intelligence & Technology Unit 8200; Nadav Zafrir (former head of the unit), Israel Grimberg (former head of its cyber division) and Liran Grinberg (former distinguished officer).
During its first commercial year of operations in 2016, Team8’s portfolio companies generated more than $22M in sales. Since its launch two and a half years ago, the group has raised more than $92M in funding, employs 180 people in Israel, US, UK and Singapore and intends to hire 100 additional employees in 2017.