Cybereason Secures $100M in Funding Led by SoftBank Corp.Cybereason Secures $100M in Funding Led by SoftBank Corp.
Cybereason announces additional funding led by Softbank Corp.
April 4, 2023
BOSTON, April 3, 2023 /PRNewswire-PRWeb/ -- Cybereason, the XDR company, today
announced a $100 million investment led by SoftBank Corp. to support the
company's global growth and advance its innovation in XDR, EDR, and EPP
solutions. In addition, Cybereason announced that Eric Gan will serve as the
company's new CEO, subject to confirmation by the company's board and pending
customary regulatory approvals, while current CEO and Co-Founder Lior Div will
transition to the role of advisor.
As an Executive Vice President of SoftBank Corp., Eric Gan has a long history
with Cybereason, starting with SoftBank Corp.'s initial investment in Cybereason
in 2015. Prior to SoftBank Corp., Gan co-founded eAccess, a telecommunications
company. Gan later became an Executive Vice President of SoftBank Corp., where
he led its Business Development Unit, which formed alliances with overseas
companies. Before eAccess, Gan was an analyst and managing director for Goldman
"I have watched Cybereason grow from its earliest stages to a leader in the
cyber industry as evidenced by its recent position as a leader in the Gartner
Magic Quadrant for EPP and its record-breaking MITRE ATT&CK results. I look
forward to supporting Cybereason's next stage of global growth and scale," said
"I am so proud of what we have accomplished at Cybereason and I look forward to
being a part of helping the company move to the next level," said Div.
This round of funding comes as Cybereason has experienced significant traction
in recent months including:
Being named a Leader in the 2022 Gartner Magic Quadrant for Endpoint Protection
Achieving the best results in the history of the MITRE Engenuity ATT&CK®
Evaluations for Enterprise, scoring 100% in Prevention, 100% in Visibility, and
100% in Real-Time Protection;
Being named to the prestigious Forbes Cloud 100;
Being named to CNBC's 10th Annual Disruptor 50 list of the most innovative
privately held global companies.
Cadwalader, Wickersham & Taft LLP is representing Cybereason in the financing,
and Goodwin Procter LLP is representing Softbank Corp. in the financing.
Cybereason is the XDR company, partnering with Defenders to end attacks at the
endpoint, in the cloud, and across the entire enterprise ecosystem. Only the
AI-driven Cybereason Defense Platform provides predictive prevention, detection,
and response that is undefeated against modern ransomware and advanced attack
techniques. The Cybereason MalOp(TM) instantly delivers context-rich attack
intelligence across every affected device, user, and system with unparalleled
speed and accuracy. Cybereason turns threat data into actionable decisions at
the speed of business. Cybereason is a privately held international company
headquartered in Boston with customers in more than 40 countries.
This press release contains forward-looking statements. The words "believe,"
"may," "will," "potentially," "estimate," "continue," "anticipate," "intend,"
"could," "plan," "expect," and similar expressions that convey uncertainty of
future events or outcomes are intended to identify forward-looking statements.
These forward-looking statements include, but are not limited to, statements
concerning the following: (i) whether or not the conditions to closing upon some
or all of the Financing occur and/or if the Financing occurs at all (in whole or
in part), (ii) whether or not regulatory approvals are obtained and/or events
conditioned on the receipt of regulatory approvals occur at all, (iii) the
potential for growth in the market for cloud-based security solutions
(domestically and internationally) and future cybersecurity spending; (iv) our
business plan and our ability to effectively manage our growth; (v) anticipated
trends, growth rates and challenges in our business and in the markets in which
we operate; and (vi) the ability of the Company to manage costs and find
efficiencies and the sufficiency of our cash to meet our cash needs.
These forward-looking statements are subject to a number of risks,
uncertainties. It is not possible for the Company to predict all risks, nor can
the Company assess the impact of all factors on its business or the extent to
which any factor, or combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements. In light of
these risks, uncertainties, and assumptions, the forward-looking events and
circumstances discussed in this press release may not occur and actual results
could differ materially and adversely from those anticipated or implied in the
forward-looking statements. The forward-looking statements made in this press
release relate only to events as of the date on which the statements are made.
We undertake no obligation to update publicly any forward-looking statements for
any reason to conform these statements to actual results or to changes in our
expectations. In addition, statements that "we believe" and similar statements
reflect our beliefs and opinions on the relevant subject. These statements are
based upon information available to us as of the date of this press release,
which may be limited or incomplete, and our statements should not be read to
indicate that we have conducted an exhaustive inquiry into, or review of, all
potentially available relevant information. These and all other forward-looking
statements are inherently uncertain and should not be relied upon.
Learn more: https://www.cybereason.com/
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