Last updated January 19th 2017

January 10, 2017 | The venture arms of Microsoft and Qualcomm Ventures have invested in Team8, an Israeli creator of cybersecurity startups, as big multinational companies get behind Israel’s burgeoning cyber industry in the face of growing threats. The Tel Aviv based company also announced a strategic partnership with Citigroup to help develop its products. Team8’s other investors are Cisco, AT&T, Accenture, Nokia, Singapore’s Temasek, Japan’s Mitsui, Bessemer Venture Partners, Google executive chairman Eric Schmidt’s Innovation Endeavors and Marker LLC. Cofounded by CEO Nadav Zafrir, Israel Grimberg and Liran Grinberg, all veterans of the Israel Defense Forces Intelligence Unit 8200 (the equivalent of America’s National Security Agency), Team8 does not invest in cybersecurity companies, but creates them. The Tel Aviv-based company launched in late 2014 with an $18 million financing round and raised a further $23 million last February. With the latest financing round, Team8 says it has now raised $92 million.