Can Cybereason keep up the momentum to become an industry leader?
SoftBank has invested $100 million in endpoint security and anti-virus (AV) startup Cybereason, a figure surpassing the total amount raised by the company since being founded in 2012.
Cybereason are now gaining momentum, having last year accumulated 500 percent growth in revenue and close to 200 percent growth in employees globally.
The company is working on AV with a Next-Gen approach, while also offering a platform for endpoint security. Cybereason has been engaged in providing automated security technology, and monitoring systems to Fortune 1000 companies.
This investment from SoftBank Corp is separate from the SoftBank Group’s Vision Fund which gained headlines in recent weeks as it closed in May with $93 billion committed.
Ken Miyauchi, President and CEO, SoftBank Corp showed a great deal of confidence in the Cybereason offerings, he said: “Cybereason’s products are truly amazing. SoftBank tested a number of cybersecurity products from all over the world, but Cybereason’s products are by far better than those of their competitors. We strongly believe Cybereason will be one of the global leaders in cybersecurity,”
Endpoint protection has become highly sought after by organisations as devices are increasingly used within the network, potentially weakening security considerably.
Lior Div, co-founder and CEO, Cybereason said: “We are thrilled with our incredible growth but we are never satisfied because hackers still have a big advantage over the vast majority of corporations. This new funding allows us to increase our growth through new distribution channels and to develop new technologies. Our strengthened partnership with SoftBank, which has a formidable sales force and enterprise customer base in Japan and a global reach, will also enable us to further expand our presence in the cybersecurity market,”
“Software is the most powerful force in today’s connected world. People can use its power for good or evil, and the mission of Cybereason is to stop the adversary from gaining an unfair advantage by giving our customers the upper hand,” said Div.