Cybersecurity startup Illumio Inc. is in talks to raise about $250 million in a funding round that values the company at about $2.9 billion, according to people with knowledge of the matter.
Private equity firm Thoma Bravo is poised to lead the latest funding round for the Sunnyvale, California-based company, said the people, who requested anonymity because the information is private.
An Illumio representative didn’t immediately respond to a request for comment, while a Thoma Bravo spokesperson declined to comment.
Closely-held Illumio in February said it had a strong fiscal year ending Jan. 31, reporting an over 100% jump in international annual recurring revenue and a fourth quarter that was its strongest ever.
The startup, led by co-founder and Chief Executive Officer Andrew Rubin, said more than 10% of Fortune 100 companies — including Morgan Stanley, BNP Paribas SA and Salesforce.com Inc. — rely on it to protect their data centers, networks and other applications against cyberattacks.News Source: Bloomberg