SoftBank Corp., a Japanese multinational conglomerate, has led a $100 million funding round for Cybereason, a cybersecurity company based in Boston. The investment will be used to enhance Cybereason’s cybersecurity solutions and expand its global presence.
Cybereason was founded in 2012 by former members of the Israeli Defense Forces’ Unit 8200, a highly skilled intelligence unit. The company’s mission is to protect organizations from cyber attacks by providing advanced threat detection and response solutions. Cybereason’s platform uses artificial intelligence and machine learning to detect and respond to threats in real-time.
SoftBank’s investment in Cybereason is part of its larger strategy to invest in companies that are developing technologies that will shape the future. SoftBank has been actively investing in technology companies around the world, including Uber, WeWork, and Arm Holdings.
The investment in Cybereason is particularly significant given the growing threat of cyber attacks. According to a report by Cybersecurity Ventures, cybercrime will cost the world $6 trillion annually by 2021. This includes the cost of damage and destruction of data, stolen money, lost productivity, theft of intellectual property, and other factors.
Cybereason’s platform is designed to help organizations detect and respond to cyber attacks quickly and effectively. The platform uses advanced analytics and machine learning to identify threats in real-time, allowing organizations to take action before significant damage is done.
The investment from SoftBank will allow Cybereason to continue to develop its platform and expand its global presence. The company plans to use the funding to hire additional staff, invest in research and development, and expand its marketing efforts.
In a statement, Lior Div, CEO and co-founder of Cybereason, said: “We are thrilled to have SoftBank join us as we accelerate our global growth. SoftBank’s support and investment will enable us to further enhance our platform and continue to innovate in the cybersecurity space.”
SoftBank’s investment in Cybereason is a significant vote of confidence in the company’s technology and its ability to address the growing threat of cyber attacks. With the investment, Cybereason is well-positioned to continue to grow and expand its presence in the global cybersecurity market.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- Source: Plato Data Intelligence: PlatoData