14 DAY TRIAL // Microsoft Ventures, which is Redmond’s venture arm, is the latest company to invest in Team8, an Israeli venture creation foundry that helps launch start-ups focused on cybersecurity.
Microsoft is thus joining a growing group of companies backing Team8, including here rivals such as Innovation Endeavors and Marker LLC (owned by Google executive chairman Eric Schmidt), Nokia, AT&T, Cisco, Accenture, and others.
“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.”
Mobile technology company Qualcomm is also investing in Team8, with the focus on a growing collaboration on new “opportunities in the cybersecurity, data center, and IoT sectors.”
Qualcomm also joining the party
Qualcomm obviously wants to make the most of this security investment by improving its own technologies, as it’s becoming one of the main chip suppliers for flagship smartphone manufacturers across the world.
Its client portfolio includes the biggest phone makers, including Samsung, with Qualcomm now expanding in the PC business with a partnership with Microsoft itself that would bring Windows 10 on ARM chips developed by the company.
“Mobile devices are prolific and offer a wealth of convenience and essential functionality to consumers and enterprises throughout the world. This also means greater threats and security risks need to be mitigated via robust security design measures,” said Quinn Li, Vice President and Global Head of Qualcomm Ventures. “Team8 is a world class cybersecurity organization and together we see a number of great opportunities on the horizon.”
And last but not least, Citigroup has also announced the signing of a strategic partnership to help raise an undisclosed funding round. Team8, however, says total funding exceeded $92 million following the latest round involving Microsoft and Qualcomm.
Team8 currently has 180 people in one of the biggest markets, including the UK and Israel, and plans to expand its workforce with an additional 100 workers by the end of the year.