NEW YORK and TEL AVIV, Israel, March 4, 2020 /PRNewswire/ -- Illusive Networks®, the leader in deception-based cyber defense solutions, today announced it has received a multimillion euro grant from the European Union to drive its continued growth in the region.
Deception-based cybersecurity technology is recognized as a must-have by industry analysts, government agencies, regulatory bodies, and independent security experts, which is leading to rapid market growth. Illusive recently announced breakout results for Q4, capping a stellar year of business success in 2019. The company plans to invest the grant funds to fuel continued EU growth initiatives.
European Growth and Investment
Illusive's growth throughout Europe builds on the company's global success, and includes major banks in London, Scandinavian-based global retailers, and innovative luxury manufacturers in the Germany-Austria-Switzerland region. In 2019, Illusive was honored to participate in the exclusive Swiss Kickstarter program, which encourages joint partnerships between established Swiss enterprises and innovators. The highlight of the company's recent European advancement came in the form of the highly competitive grant from the European Union's Horizon 2020 program: the largest EU Research and Innovation program, and a 2020 flagship initiative aimed at securing Europe's global competitiveness.
"With Illusive technology now in play across the world's largest enterprises, and as we are expanding our business in Europe, the timing of the Horizon 2020 grant is ideal," Ofer Israeli, founder and CEO of Illusive, said. "In response to increased demand in Europe, we're growing Illusive's sales and marketing teams, adding new customer success engineers and accelerating our technical leadership in cloud security innovation. For too long, attackers had the upper hand – they only needed to be right or get lucky once, and their attacks succeeded. Now, Illusive helps flip that script by putting defenders back in charge."
The grant from the EU comes as support for deception-based technology gains traction with independent security analysts, regulatory bodies and government agencies, including the MITRE Corporation. In January, the organization endorsed cyber detection products and expertise for the Department of Defense and other federal security agencies, in a report titled: The Cyberspace Advantage: Inviting Them In! - How Cyber Deception Enables Better Resilience.
About Illusive Networks
Illusive Networks uses next-generation deception technology to stop cyber-attacks by paralyzing attackers, destroying their ability to make decisions, and depriving them of the means to move sideways towards attack targets. Illusive's inescapable deception and attack surface reduction capabilities eliminate high-risk pathways to critical systems, force attackers to reveal themselves early in the threat lifecycle, and capture real-time forensics that accelerate incident response. Built on agentless, advanced automation, and requiring very little security team support, Illusive immediately shifts the advantage to defenders, freeing precious resources from the complicated and data-heavy approaches that overloaded them in the past.
Media Contact for Illusive:
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SOURCE Illusive Networks