Artificial Intelligence-powered cybersecurity startup Cybereason has raised $200 million in its latest financing round from SoftBank Group and its affiliates. With this funding, the company has officially joined the rank of unicorns.
SoftBank has been on an investment spree lately pouring money in promising tech startups across the globe. Cybereason stated that this new funding would be geared towards geographic expansion and development of cutting edge technology that would enable the services to be autonomous.
Marcelo Claure, CEO at SoftBank Group, stated that cybersecurity played a leading role to help companies manage cybersecurity threats and protect people’s information.
The Japanese investment firm has been strategically investing in tech startups all over the world to gain access to emerging technologies. SoftBank plans to upgrade its existing security software and products using Cybereason’s technology to keep pace with the hackers.
Co-Founded by Lior Div, Yonatan Striem-Amit, and Yossi Naar, the Boston-based startup creates tools and software that are integrated into the mainframe systems to establish communication with a ‘brain’ in the cloud server.
The ai-powered platform detects and isolated the vulnerabilities in the system. CEO Div’s experience stems from the time he spent in the Israel army’s 8200 unit that focused on addressing cybersecurity threats.
“We have developed a machine that works faster than hackers hack, but we need to continue to learn and evolve. Cybersecurity doesn’t standstill. Countries are not using spies to do espionage. They are using cybertechnologies. It is much safer, much more elegant, and much more effective” quoted Div.
Cybereason’s previous funding round was closed at $100 million funded entirely by SoftBank in the year 2017. The company is also backed by CRV, Spark Capital, and Lockheed Martin. The total venture capital of the firm stands at $400 million. The company operates across five continents with offices in Boston, Tel Aviv, Tokyo, and London.
The cybersecurity market space looks very crowded with more and more companies such as Kaseya, KnowBe4, and Auth0 joining the Unicron club recently. Cybereason is en route to go public by 2021.
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