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Cybereason Secures $100 Million in Funding Led by SoftBank Corp.

Apr 3, 2023

Cybereason, the XDR company, today announced a $100 million investment led by SoftBank Corp. to support the company’s global growth and advance its innovation in XDR, EDR, and EPP solutions. In addition, Cybereason announced that Eric Gan will serve as the company’s new CEO, subject to confirmation by the company’s board and pending customary regulatory approvals, while current CEO and Co-Founder Lior Div will transition to the role of advisor.

 As an Executive Vice President of SoftBank Corp., Eric Gan has a long history with Cybereason, starting with SoftBank Corp.’s initial investment in Cybereason in 2015. Prior to SoftBank Corp., Gan co-founded eAccess, a telecommunications company. Gan later became an Executive Vice President of SoftBank Corp., where he led its Business Development Unit, which formed alliances with overseas companies. Before eAccess, Gan was an analyst and managing director for Goldman Sachs. 

 “I have watched Cybereason grow from its earliest stages to a leader in the cyber industry as evidenced by its recent position as a leader in the Gartner Magic Quadrant for EPP and its record-breaking MITRE ATT&CK results. I look forward to supporting Cybereason’s next stage of global growth and scale,” said Gan. 

 “I am so proud of what we have accomplished at Cybereason and I look forward to being a part of helping the company move to the next level,” said Div. 

 This round of funding comes as Cybereason has experienced significant traction in recent months including:

  • Being named a Leader in the 2022 Gartner Magic Quadrant for Endpoint Protection Platforms;

  • Achieving the best results in the history of the MITRE Engenuity ATT&CK® Evaluations for Enterprise, scoring 100% in Prevention, 100% in Visibility, and 100% in Real-Time Protection;

  • Being named to the prestigious Forbes Cloud 100;

  • Being named to CNBC’s 10th Annual Disruptor 50 list of the most innovative privately held global companies.

Cadwalader, Wickersham & Taft LLP is representing Cybereason in the financing, and Goodwin Procter LLP is representing Softbank Corp. in the financing.

About Cybereason                                                                                                                             

Cybereason is the XDR company, partnering with Defenders to end attacks at the endpoint, in the cloud, and across the entire enterprise ecosystem. Only the AI-driven Cybereason Defense Platform provides predictive prevention, detection, and response that is undefeated against modern ransomware and advanced attack techniques. The Cybereason MalOp™ instantly delivers context-rich attack intelligence across every affected device, user, and system with unparalleled speed and accuracy. Cybereason turns threat data into actionable decisions at the speed of business. Cybereason is a privately held international company headquartered in Boston 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 some or all of the Financing occur and/or if the Financing occurs at all (in whole or in part), (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. 

Media Contact: 

Bill Keeler

Senior Director, Global Public Relations

Cybereason

bill.keeler@cybereason.com

(929) 259-3261