Cybereason co-founders Yonatan Striem Amit (left), Lior Div and Yossi Naar Photo CybereasonCybereason co-founders Yonatan Striem Amit (left), Lior Div and Yossi Naar Photo Cybereason
Cybereason, an Israeli cybersecurity startup and a unicorn, announced a $100 million investment led by the Japanese firm SoftBank Corp, which had previously invested in the company. SoftBank will now be the firm’s largest shareholder and hold effective control. Cybereason was recently valued at $3.5 billion.
Eric Gan will serve as the company’s new CEO, replacing current CEO and Co-Founder Lior Div, who will transition to the role of advisor.
Div said, “Today marks a bittersweet milestone for me. As we celebrate an extraordinary new round of $100M financing for Cybereason, I also announce my transition from CEO to an advisor for Cybereason. I am so incredibly proud of what we have built here – a company that Gartner recognizes as a clear EPP leader, a platform that achieved historic MITRE ATT&CK scores, and, most importantly, a technology that protects thousands of customers worldwide from cyberattacks..”
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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.
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.
Last 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.
