Cybersecurity firm Cybereason, which helps combat real-time cyber-attacks using artificial intelligence and counts Lockheed Martin SoftBank and Motorola among its clients, has received $100M in its fourth round.
About Cybereason
Cybereason is a Boston-based startup founded in 2012 by Lior Div, together with Yonatan Striem-Amit and Yossi Naar. The company has a software-as-a-service platform that uses artificial intelligence to enable its customers to combat cyber-attacks in real time. Its customers include hundreds of Fortune 1000 companies.
In the last five years, the company has built up a workforce of 300 employees. The and have a presence in Tel Aviv, Boston, London and Tokyo. In the last year, the company has registered an overall growth of 500TP1T in revenues and 200% in employees.
This growth has come largely thanks to the investment rounds closed by the company since 2014, to which Softbank's $100M has now been added. In total the company has raised a total of $188.6M. In addition to Softbank, investors include Spark Capital and CRV.
Softbank leads a $100M round in Cybereason
Softbank, which had already invested in Cyberseaon in 2015, has decided to invest in the company again, this time doubling the amount.
This Series D round of funding will serve to Cybereason to enhance its growth, developing through new distribution channels and incorporating and creating new technologies. Div also expects the strengthened partnership with SoftBank to "expand our presence in the cybersecurity market".
The US company joins other security firms such as Illumio, Tanium, CrowdStrike, which in recent months have received investments in excess of $100M for the development of their operations.
Artificial intelligence is revolutionising cybersecurity
Investments in cybersecurity firms hit a record high last year and the first quarter of 2017 was the biggest quarter for deals in the last five years. Many of these companies that are receiving investment are trying new technologies to offer innovative solutions to old cyber threats. One of the technologies that is being used the most is artificial intelligence. According to CB Insights, cybersecurity is the fourth most active sector in deals for companies using artificial intelligence.
The uses of artificial intelligence in security include: monitoring activity in systems and networks in real time, identifying patterns and anomalies in internal and external data flows, accelerating detection, freeing up resources, enabling faster remediation, and generally helping to improve ongoing cyber resilience.
Among the companies offering AI solutions in cybersecurity, there are 2 large companies with a valuation above $1B. Tanium, which offers automated endpoint protection and intelligent predictive enterprise Cylance.
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