American-Israeli cybersecurity firm Cybereason announced on Wednesday that it secured a $275 million investment led by Liberty Strategic Capital, the new investment firm founded by Steve Mnuchin, who served as the Secretary of the Treasury for the administration of former US president Donald Trump, and led by David Friedman, the former US ambassador to Israel.
Irving Investors, Neuberger Berman, and Softbank’s Vision Fund 2 also invested in the round.
Founded in 2012 by Lior Div, Yossi Naar, and Yonatan Amit, Cybereason offers clients endpoint detection and response (EDR), extended detection and response (XDR), next-generation antivirus (NGAV), anti-ransomware solutions, and active monitoring services, through its Cyber Defense Platform. The company says its platform is operation-centric and works to expose and end entire “malicious operations” (MalOps) before they become breaches.
Cybereason is headquartered in Boston, with offices in London, Tel Aviv, and Tokyo.
This latest round triples Cybereason’s valuation, the company said in an announcement, adding that it will use the funds to fuel “hypergrowth driven by strong market demand.”
“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 Div, who serves as CEO. “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.”
“Cybereason is fast becoming the global leader in cyber defense technology, and we could not be more pleased to make this extraordinary innovator the first addition to Liberty Strategic Capital’s portfolio,” said Mnuchin in a statement. “Cybereason has established itself as a visionary in prevention, detection and response, and Liberty Strategic Capital is excited to partner with the Cybereason team in their cutting-edge work to defend critical information networks, businesses, and governments around the world against the growing danger of cyber attacks.”
As part of the investment deal, 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).
Cybereason has raised over $389 million to date with investors such as Softbank Group, CRV, Spark Capital, and Lockheed Martin.