illusive networks was founded in 2014 by team8 and ofer israeli. in june 2015, illusive received $5 million in series a funding from cybersecurity incubator, team8. team8 is funded by a group of investors, including google chairman eric schmidt's venture capital fund, innovation endeavors, alcatel-lucent, cisco systems, marker llc, bessemer venture partners, and others. while in israel at the 5th annual international cybersecurity conference in 2015, schmidt paid a visit to illusive networks' headquarters on june 9 during the company's official launch. the company was named one of gartner's cool vendors in security and intelligence for 2015.