Cybersecurity startup Illumio raises $225 million, valued at about $2.8 billion

Illumio said on Thursday it raised $225 million in a funding round led by private equity firm Thoma Bravo that valued the cybersecurity startup at $2.75 billion.

The pandemic has driven up venture capital investments into the cybersecurity space, as businesses increasingly turn to firms like Illumio to tackle the digital security challenges brought on by their shift to remote work.

Illumio, which helps companies protect their digital operations from breaches and compromises, serves customers including enterprise software company Salesforce.Com Inc and financial institutions Morgan Stanley and Bank of England.