Israeli cybersecurity company Cybereason has filed confidentially with the US Securities and Exchange Commission (SEC) for a Wall Street IPO at a company valuation of $5 billion, according to people familiar with the matter, "Reuters" reports.
"Reuters" adds that Cybereason has finalized the underwriters for its IPO, which could take place in the second half of 2022. The sources, who requested anonymity, told "Reuters" that the discussions are confidential, and cautioned that the timing and the size of the flotation were subject to market conditions.
Cybereason has raised $750 million, according to PitchBook, and investors include SoftBank Vision Fund II, Alphabet (Google), and Liberty Strategic Capital, the investment firm of former US Treasury Secretary Steve Mnuchin. Other investors include CRV and Spark Capital. Cybereason's most recent financing round was completed last July when it raised $275 million, at a company valuation of $3.2 billion.
The company was 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. Two years ago the company moved its headquarters to Boston while development activities remain in Israel.
Cybereason's XDR platform combines endpoint prevention, detection, and response all in one lightweight agent. The company says that it recognizes, exposes, and end malicious operations before they take hold allowing users to end attacks in minutes.
"Reuters" added that, "Cybereason competes with other cybersecurity players like CrowdStrike and SentinelOne, builds artificially intelligent software and offers a variety of services including ransomware protection and prevention of malware attacks."
"Reuters" said that Cybereason declined to comment on the report.
Published by Globes, Israel business news - en.globes.co.il - on February 1, 2022.
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