Cybereason, a cybersecurity company that specializes in endpoint detection and response, recently announced that it has raised $100 million in funding and appointed a new CEO. This move is significant for the company as it marks a shift towards becoming a “cyber unicorn” – a term used to describe companies valued at over $1 billion.
The funding round was led by SoftBank Group Corp’s Vision Fund 2, with participation from existing investors like CRV, Spark Capital, and Lockheed Martin. This brings Cybereason’s total funding to date to $389 million.
The new CEO, Lior Div, is one of the co-founders of Cybereason and previously served as the company’s Chief Product Officer. He takes over from former CEO, Yonatan Striem-Amit, who will remain with the company as its Chief Technology Officer.
In a statement, Div said that the funding will be used to accelerate the company’s growth and expand its product offerings. He also emphasized the importance of Cybereason’s mission to protect businesses from cyber threats.
“We are on a mission to protect our customers from the most advanced cyber attacks and empower them to take control of their security,” Div said. “This new investment will enable us to accelerate our growth and continue to innovate our products to meet the evolving needs of our customers.”
Cybereason’s endpoint detection and response platform is designed to detect and respond to cyber threats in real-time. The company’s technology uses machine learning and behavioral analytics to identify suspicious activity on endpoints like laptops, servers, and mobile devices.
The company has seen significant growth in recent years, with over 1,000 customers in industries like healthcare, finance, and government. Cybereason has also expanded its global presence with offices in Boston, London, Tokyo, and Tel Aviv.
The cybersecurity industry is growing rapidly as businesses increasingly rely on digital technologies to operate. However, this growth has also led to an increase in cyber threats, with hackers constantly developing new tactics to breach security systems.
Cybereason’s funding and leadership changes signal a commitment to staying ahead of these threats and continuing to provide innovative solutions for businesses. As the company moves towards becoming a cyber unicorn, it will be interesting to see how it continues to evolve and shape the cybersecurity landscape.
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