SoftBank Invests $100 Million in Cybersecurity Firm Cybereason
Cybereason, a Boston-based cybersecurity startup, continues to rake in the cash, with the latest capital infusion coming from SoftBank Corp. The Japanese telecom and Internet service provider has invested $100 million in Cybereason, according to a June 21 announcement.
The funding will enable Cybereason, which provides automated SaaS cybersecurity technology and advanced monitoring services, to develop new technologies and increase its growth through new distribution channels, according to Lior Div, Cybereason CEO and co-founder.
Including the latest investment by SoftBank, which is Cybereason’s biggest investor and one of its biggest customers and distribution partners, the security company has raised $189 million in capital since it was founded in 2012 by Div, Yossi Naar and Yonatan Striem-Amit. Other investors have included CRV, Spark Capital and Lockheed Martin.
Cybereason says the new financing “solidifies” the company as a leading cybersecurity startup. Last year, the company had 500 percent growth in revenue and nearly 200 percent growth in employees. Hundreds of Fortune 1000 companies use Cybereason to protect themselves from advanced attacks, according to the company, including the recent WannaCry ransomware attack in May that affected approximately 200,000 computers in more than 150 countries.