Cybereason, a leader in the cybersecurity industry, has successfully raised $120m in a new funding round.
This investment was spearheaded by SoftBank Corp., SoftBank Vision Fund 2, and Liberty Strategic Capital, highlighting strong market confidence in the company’s capabilities.
The funds will bolster Cybereason’s renowned endpoint detection and response (EDR) solutions and its consulting services. This strategic financial injection aims to propel the company’s global expansion and enhance its technology to meet the evolving demands of cybersecurity threats faced by enterprises around the world.
Cybereason plans to utilize the newly acquired funds to deepen its product capabilities in EDR solutions and to enhance its strategic partnerships, notably with Trustwave, a leader in managed security services. This move is part of a broader strategy to focus intensely on its core areas of expertise in the cybersecurity domain.
In addition to the funding news, Cybereason announced that Manish Narula has assumed the role of CEO. The leadership update signifies a strategic pivot as the company aims to strengthen its position in the cybersecurity market, driven by Narula’s and Chief Administrative Officer Gregory Puff’s extensive experience.
During the announcement, Manish Narula expressed his enthusiasm about the investment and the company’s future direction. “We are thrilled to have key investors SoftBank Corp., SoftBank Vision Fund 2 and Liberty Strategic Capital leading this investment round. This funding is a testament to the strength of our technology, and the trust our partners place in Cybereason,” Narula said. He further emphasized that this capital would enable Cybereason to push the boundaries of innovation in cybersecurity technology and services.
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