Enterprise security platform Cybereason raises $200m

6 Aug 2019

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Boston-based Cybereason will use a new round of funding to finance operations and focus on global expansion.

This morning (6 August), enterprise security platform Cybereason announced that it has secured $200m in funding.

Since the company was founded in 2012, it has raised approximately $400m from investors including CRV, Spark Capital, Lockheed Martin and others. This new round of investment comes primarily from SoftBank Group and its affiliates. SoftBank previously invested in the company in 2015.

Boston-based Cybereason is now valued at $900m, according to Forbes. The company has a number of products and services that are used for endpoint detection and response (EDR) and managed detection and response (MDR). The company also offers a platform called Replay, which allows users to “go back in time” to investigate the root cause of a cybersecurity issue.

According to Tech Crunch, the cybersecurity company’s services process and analyse data in real-time across an organisation’s daily operations and relationships, to look for anomalies or suspicious behaviour to flag.

CEO and co-founder Lior Div said: “Cybereason’s big data analytics approach to mitigating cyber risk has fuelled explosive expansion at the leading edge of the EDR domain, disrupting the EPP [endpoint protection platform] market.

“We are leading the wave, becoming the world’s most reliable and effective endpoint prevention and detection solution because of our technology, our people and our partners. We help all security teams prevent more attacks sooner, in ways that enable understanding and taking decisive action faster.”

Global expansion

Over the last two years, Cybereason’s customer base has increased by more than 300pc, with over six million endpoints under protection. The company has 500 employees, with headquarters in Boston and offices in London, Tokyo, Sydney and Tel Aviv.

In June of this year, Cybereason uncovered a vast hacking operation on more than a dozen mobile carriers around the globe, which was dubbed Operation Soft Cell. During this operation, hackers were attempting to steal data including usernames, passwords and personal credentials from customers of European, African, Asian and Middle Eastern phone providers.

COO at SoftBank Group, Marcelo Claure, said: “Cybereason plays a leading role in helping companies manage cybersecurity risk and protect people’s information. AI-driven technology from Cybereason is helping secure our increasingly connected world.”

The company said that it will use the latest funding round to finance operations and focus on global expansion, while innovating its core EPP offering.

Kelly Earley was a journalist with Silicon Republic