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Cybereason, a leading global cybersecurity company, today announced a $120 million investment led by SoftBank Corp., SoftBank Vision Fund 2, and Liberty Strategic Capital to advance the company’s global growth fueled by its award-winning endpoint detection and response (EDR) solutions and its world-class consulting services, enhanced by a strategic partnership with Trustwave. Manish Narula will serve as the company’s new CEO.
New Investment Funding
Cybereason has secured an additional $120 million in funding from key investors, including SoftBank Corp., SoftBank Vision Fund 2, and Liberty Capital. Other current investors will have the opportunity to participate in the funding round.
This investment reflects strong confidence in Cybereason’s industry-leading EDR technology and its ability to combat sophisticated cyber threats. It ensures the company remains a long-term, trusted cybersecurity partner for enterprises worldwide, while reinforcing its commitment to delivering exceptional customer service to meet the evolving needs of its clients.
“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.” said Manish Narula, CEO of Cybereason. “With this capital infusion, Cybereason’s Chief Administrative Officer and General Counsel, Gregory Puff, along with the entire Cybereason team, will continue to push the boundaries of innovation in cybersecurity technology and services, expanding our reach in critical markets.”
Leadership Transition
Manish Narula has been appointed as the new CEO, effective immediately. Narula, along with Puff, will leverage the executive team’s extensive leadership, financial, and operational experience and position Cybereason for success in its new chapter.
With this investment and to support Cybereason's renewed focus on its core EDR and consulting services, we have decided to pursue expansion of our strategic relationship with Trustwave, a leader in managed security services, rather than complete the previously announced intent to merge.
About Cybereason
Cybereason (cybereason.com) is a leading global cybersecurity company. Cybereason provides attack protection with cutting edge EDR and industry recognized consulting services to support organizations throughout any stage of the incident lifecycle. Cybereason’s award-winning technology and elite experts empower organizations of all sizes to harden, respond and recover from cyber threats in an ever evolving threat landscape. Cybereason is a privately held international company headquartered in California with customers in more than 40 countries.
Forward-Looking Statements
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 the investment occur and/or if the investment occurs at all, (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.
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