Cyber security company Cybereason, based in Boston, Massachusetts and in Tel Aviv, where it maintains an R&D center, has completed a second fund-raising round within four months. After raising $25 million in its previous round, today the company announced that it had raised a further $59 million, making it $84 million in four months, a remarkable amount within so short a time. Altogether, the young company, which was founded just three years ago, has raised $88.6 million.
The current round was led by Japanese telecommunications giant SoftBank Group Corp. via its SoftBank Corp. unit, alongside existing investors CRV and Spark Capital. Following SoftBank's investment Cybereason will open a branch in Japan, and SoftBank will become the main distributor of its security platform in the Japanese market. Lockheed Martin, which invested in the previous round, also became a strategic partner of Cybereason.
Cybereason's system enables enterprises to reduce substantially the response time required to locate a cyber attack, identifying both known and unknown malicious activity. Its founders, CEO Lior Div, CTO Yonatan Striem-Amit, and CVO Yossi Naar, are all veterans of the IDF's 8-200 intelligence unit.
The company's system collects data on all activity on a computer system, from programs used and data transfers down to keystrokes and mouse movements, and is able to detect deviations from normal activity.
Lior Div said, "In the past year, Cybereason has demonstrated that it is capable of protecting the world's largest and most prestigious enterprises, that suffer daily from cyber attack threats. The partnership with SoftBank replicates the partnership model we created with Lockheed Martin, our first customer that both invested in the company and also linked up to it as a partner that sells our products and assists us in penetrating new markets. This model enables us to remain flexible and to focus on innovation while leveraging the credibility, resources and experience that only industry giants can give us."
Published by Globes [online], Israel business news - www.globes-online.com - on October 13, 2015
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