Microsoft, Qualcomm back Israel's cybersecurity firm

Isreali company Team8 has managed to raise funds over $92 mn

The venture arms of Microsoft and Qualcomm have invested in Team8, an Israeli creator of cybersecurity start-ups, as big multinational companies get behind Israel’s burgeoning cyber industry in the face of growing threats.

Team8, which also announced on Monday a strategic partnership with Citi to help develop its products, said the most recent investment brings its total raised to more than $92 million. Its 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.