Team8, an Israel-based cyber security company, is catching the attention of some high-profile investors including Microsoft Ventures, Cisco, Qualcomm Ventures, and Eric Schmidt’s Innovation Endeavors. The company, which describes itself as a cyber security think tank, is founded by three former members of the Israeli Defense Forces who say they have a “revolutionary” approach to combatting threats.
Team8 founders Nadav Zafrir, Israel Grinberg, and Liran Grinberg say the key to their company is that they use their cyber-security expertise and proprietary processes to create sustainable security businesses. The co-founders closely work with firms during the entire process — from creation to validation.
Qualcomm Ventures said it plans to work with Team8 on security for data centers and the Internet of Things (IoT). One of the big concerns surrounding IoT is the security of the devices. Last year an IoT-based botnet, called Mirai, was blamed for causing a massive distributed denial of service (DDoS) attack that disrupted several major Internet sites including GitHub, Twitter, and Netflix.
Security experts said the DDoS attack was caused by a large number of IoT devices that were constantly querying a domain name service (DNS) provider, making it impossible to translate Internet addresses into IP addresses so that networks can route traffic.
Team8 launched in 2014 and since that time it has helped start two security firms —illusive networks, which specializes in deception technology to detect targeted attacks, and Claroty, which makes a security platform for critical infrastructure such as power grids, steel mills, and oil refineries.
According to Team8’s website, the company’s portfolio of firms generated more than $22 million in sales in 2016. Plus, the company says it has raised more than $92 million in funding.
Team8 has about 180 employees in Israel, the U.S., the U.K., and Singapore and says it plans to hire 100 more employees in 2017.