Israeli Cyber Security Business Foundry, Team8, on Track to Build 5 Firms by 2020

Team8, a cyber security business foundry created by veterans of the Israeli army’s technology and intelligence unit 8200, said it closed a $23 million round of financing. Team8 plans to use the money to develop five companies over the next four years. Investors in the round include AT&T Inc., Accenture Plc, Nokia Oyj, Mitsui & Co. Ltd., and Temasek Holdings Private Ltd. They join existing backers, including Cisco Systems Inc., Alcatel-Lucent SA, Bessemer Venture Partners, Marker LLC and Eric Schmidt’s Innovation Endeavors.