American-Israeli security startup, Cybereason, confidentially filed for a US initial public offering (IPO) speculated to be valued over $5 billion, sources told Reuters earlier this week. Cybereason declined to comment on the matter.
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 raised $275 million from investors in July, lifting its valuation to approximately $3 billion. To date, it has raised $750 million from firms like Lockheed Martin, CRV, and Spark Capital, according to capital market company, PitchBook.
Backed by technology conglomerates Softbank and Alphabet, as well as former US treasurer Steve Mnuchin’s investment firm, Liberty Strategic Capital, sources say Cybereason has “finalized underwriters for its IPO,” which they predict could arrive in the later half of 2022.
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