Cybereason co-founders Yonatan Striem Amit (left), Lior Div and Yossi Naar Photo Cybereason
Cybereason, an Israeli cybersecurity startup and a unicorn is reportedly looking to find a buyer after its IPO plans fell through. According to the publication “The Information,” the company hired J.P. Morgan to handle its quest for a buyer.
Backed by people like former US Treasury Secretary Steve Mnuchin and his fund Liberty Strategic Capital, Cybereason was at one time valued at as much as $3.5 billion. But now reports indicate that the company is looking at just a $2.5 billion price tag.
In June, Cybereason filed its paperwork with the SEC ahead of its planned IPO. At the time, the company was said to be looking at a $5 billion valuation from a Wall Street Initial Public Offering. But the continuing crisis in worldwide markets and inflation due to the ongoing war in Ukraine has sent indices plummeting and new capital for investment has largely dried up. As a result, this is just not a good time for new firms to go public, but since cyber security is always in demand, Cybereason may find a buyer for the right price.
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And in June, Cybereason joined a number of Startup Nation firms that have been forced to make cutbacks recently. The company layedoff around 100 employees out of the total 1,500 people the company employed in Israel and worldwide.
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).”
