Israeli startup Cybereason has announced the close of $59 million in Series C funding (its largest round to date), led by a new investor SoftBank along with existing investors CRV and Spark Capital.
Founded in 2012 by members of the Israeli intelligence agency’s elite cyber security Unit 8200, CEO Lior Div, CTO Yonatan Striem-Amit, and CVO Yossi Naar, the company has raised to date $88.6 million.
Cybereason’s system enables enterprises to reduce substantially the response time required to locate a cyber attack, identifying both known and unknown malicious activity.
In conjunction with this investment, SoftBank will be the leading distributor of Cybereason’s cyber-security platform in the Japanese market. Cybereason and SoftBank will also join forces to build a joint offering that enables Japanese organizations to defend themselves against advanced persistent threats and other sophisticated cyber attacks.
“SoftBank works to obtain cutting edge technology and outstanding business models to lead the Information Revolution. Our deployment of the Cybereason platform internally gave us firsthand knowledge of the value it provides, and led to our decision to invest. I’m confident Cybereason and SoftBank’s new product offering will bring a new level of security to Japanese organizations, ” said Ken Miyauchi, President & CEO of SoftBank.
“Over the past year Cybereason has proven its ability to defend the world’s largest, most prestigious and most highly targeted enterprises against ultra-sophisticated cyber attacks, ” said Lior Div, CEO and co-founder of Cybereason. “We built our relationship with SoftBank to mirror the success we achieved with Lockheed Martin, which also invested in and built a joint go-to-market plan with us. This model enables us to maintain our agility and focus on innovation while leveraging the credibility, resources and experience that only industry giants bring to the table.”
“What makes Cybereason stand out above hundreds of security startups is its transformational approach to cybersecurity, which leverages machine learning and behavioral analytics to detect and thwart even the most advanced cyber threats, ” said Amane Kito, Chief Information Officer of SoftBank.