Cybereason, Israeli cyber-security platform, raises $59M in Series C funding led by SoftBank
Cybereason has announced the close of $59 million in Series C funding, led by a new investor, SoftBank Corp.(“SoftBank”), a subsidiary of SoftBank Group Corp. (TOKYO: 9984) along with existing investors CRV and Spark Capital. In conjunction with this investment, SoftBank will be the leading distributor of Cybereason’s cyber-security platform in the Japanese market. Per the terms of their agreement, Softbank and Cybereason 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 Corp.
“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.”
Amane Kito, Chief Information Officer of SoftBank Corp., added, “Cybereason super-charges the ability of security teams to defend against cyber threats and significantly reduce security costs. What makes Cybereason stand out above hundreds of security start-ups is its transformational approach to cyber-security, which leverages machine learning and behavioral analytics to detect and thwart even the most advanced cyber threats.”
Cybereason’s Series C funding round will further accelerate the exceptional growth it has experienced since launching its platform in February 2014, as reflected in the many awards and accolades it has received. Most recently, CRN named Cybereason an “Emerging Vendor” and one of the “10 Coolest Security Companies of 2015 (so far)”. Earlier this year it was named “Best Emerging Technology” by SC Magazine UK, one of the 10 Most Innovative Companies at RSA Conference 2015, one of “Nine Israeli companies to watch” by Inc. Magazine, one of “12 hot security startups you need to know” by Network World and in 2014 Gartner, Inc. selected it as Cool Vendor in Application and Endpoint Security. Additionally, Cybereason’s research arm – Cybereason Labs, has published numerous reports on attack trends, from DGA based malware to the discovery of a new Ransomware-as-a-Service operation to the discovery of a new APT targeting Microsoft OWA, published earlier this month.
“We seek to partner with the biggest and brightest players that can offer a unique platform for market expansion and the development of new product offerings. We are excited to work with the excellent team at SoftBank to launch an advanced security solution in Japan, a region that values great technology,” continues Div.
SoftBank Corp., a subsidiary of SoftBank Group Corp. (TOKYO: 9984), provides mobile communication, fixed-line communication and Internet connection services to customers in Japan. Leveraging synergies with other companies in the SoftBank Group, SoftBank Corp. aims to transform lifestyles through ICT and expand into other business areas including IoT, robotics and energy.
Source: Cybereason Press Release