Cybereason has announced it has secured $275 million in crossover financing led by Liberty Strategic Capital, with additional backing provided by Irving Investors, certain funds advised by Neuberger Berman Investment Advisers, and Softbank Vision Fund 2. This latest round of investment validates the company’s position as the preeminent innovator in delivering XDR, EDR, EPP and anti-ransomware solutions. Cybereason will use the proceeds to continue to fuel the company’s hypergrowth driven by strong market demand for its AI-powered Cybereason Defense Platform. This round follows $389 million in prior funding from Softbank Group, CRV, Spark Capital and Lockheed Martin.
“Over the past year, we’ve experienced hypergrowth across the globe as defenders recognize that ending advanced attacks isn’t possible using solutions that rely on meaningless alerts and human intervention,” said Lior Div, CEO and co-founder of Cybereason. “Existing — even ‘next-gen’ — solutions are fundamentally flawed, creating the dynamic we have today where the defender is constantly struggling to keep pace with attackers. Unlike our prolific alert-generating competitors, Cybereason takes an approach that enables defenders to end malicious operations instantly, resulting in the most comprehensive prevention, detection and response solution on the market. This is how we are returning the high ground to the defenders – and we are just getting started.”
In connection with Liberty’s investment in Cybereason, Secretary Mnuchin will join the Cybereason Board of Directors, and Liberty’s Senior Advisor, General Joseph F. Dunford (Ret.), will join Cybereason’s Advisory Board. General Dunford served as the 19th Chairman of the Joint Chief of Staff (2015-2019).
J.P. Morgan is serving as exclusive placement agent to Cybereason, with Cadwalader, Wickersham & Taft LLP serving as legal counsel to the company. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to Liberty.
