Illumio was founded in 2013 by Andrew Rubin and PJ Kirner. In 2021, when asked about a potential IPO, CEO Rubin told reporters "I’d like to think that would be part of our journey," but refrained from offering any specific time goals.
Illumio is a cybersecurity company that specializes in protecting data centers and cloud networks through a practice it calls "microsegmentation." The company operates within the zero trust framework, a cybersecurity approach that applies strict verification standards to every access request, even those which originate from behind a firewall. Illumio has raised more than $550 million in venture capital funding from investors including Andreessen Horowitz, General Catalyst, Formation 8, and Thoma Bravo. The company achieved a $2.75 billion valuation following a $225 million funding round in 2021.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.