Cybersecurity platform provider Cybereason Inc. today announced that it has raised $100 million in new funding from SoftBank Group Corp. to support its global growth and advance its innovation in extended detection and response, endpoint detection and response and endpoint protection platform solutions.
Founded in 2012, Cybereason offers an automated EDR platform that identifies elements of cyber attacks for effective response in real-time. The company’s platform detects signature-based and non-signature-based attacks and accelerates incident investigation and response, connecting individual pieces of evidence to form a complete picture of a malicious operation.
Cybereason’s platform draws on an extensive database of threat signatures and collections of technical data on hacking tactics to identify breach attempts that use methods known to the cybersecurity community. The service delivers enhanced investigation of attacks and continuous endpoint visibility via a big-data analytics platform designed to reveal malicious operations. The received data is signed and stored for research, flowing through an in-memory graph where machine-learning behavioral models search for anomalies and other risks in order to reveal unknown non-signature-based attacks.
Along with the funding, Cybereason also announced that Eric Gan is taking up the position as the company’s new chief executive officer, subject to confirmation by the company’s board. Co-founder and current CEO Lior Div will transition to the role of adviser.
Gan is currently an executive vice president at SoftBank but has a long history with Cybereason, starting with SoftBank’s initial investment in Cybereason in 2015. Before working at SoftBank, Gan co-founded eAccess, a telecommunications company. He has also worked as an analyst and managing director for Goldman Sachs Group Inc.
The funding comes as Cybereason says that it has experienced significant traction in recent months, including being named a leader in the 2022 Gartner Magic Quadrant for Endpoint Protection Platforms.
Including the new funding, Cybereason has raised $850.6 million, according to Crunchbase. Previous investors include Google LLC, Liberty Strategic Capital LLC, Irving Investors Inc., Charles River Ventures Inc., All Blue Capital LLC and Spark Capital Partners LLC.