Cybereason, an Israeli cyber security startup, is reportedly ready to go public and has confidentially filed its paperwork with the SEC. According to Reuters, Cybereason is said to be looking at a $5 billion valuation from an Initial Public Offering IPO on Wall Street. So, another big exit for Israel Startup Nation.
Founded in 2012 in Israel by CEO Lior Div, CTO Yonatan Striem-Amit, and CVO Yossi Naar – all veterans of the IDF’s 8200 intelligence unit, Cybereason is an Israeli cybersecurity company, which provides protection against cyberattacks to both governments and businesses alike. Alphabet Inc’s Google Cloud unit is one of its backers.
Cybereason calls itself the champion for today’s cyber defenders providing future-ready attack protection that “unifies security from the endpoint, to the enterprise, to everywhere the battle moves.” The company boasts that their Cybereason Defense Platform combines the industry’s top-rated detection and response (EDR and XDR), next-gen anti-virus (NGAV), and proactive threat hunting to deliver “context-rich analysis of every element of a Malop (malicious operation).”
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Just last July, Cybereason (Cyber + Reason) raised $275 million in new financing led by the former US Treasury Secretary Steve Mnuchin and his fund Liberty Strategic Capital. Mnuchin started the fund after he left office. At the time, the investment left the company with a $3.3 billion valuation. The company had already been a unicorn before that, however, having already passed the prestigious billion dollar mark in valuation as a startup.
— Cybereason (@cybereason) February 1, 2022
So why is the company so valuable? Well, cyber security is more important than ever. Hackers are not only motivated by money or politics. They often just like being malicious. So even small companies need to be on their guard and be sure to properly protect their systems. In recent times several different Israeli companies were ransomware attacks by the Black Shadow hackers.
Soon after the Mnuchin money came in, Cybereason put it to good use by buying out fellow Israeli firm empow, a security analytics company based in Tel Aviv. empow says that they deliver an intelligent, patented AI and Natural Language Processing (NLP) solution.