US-Israeli cybersecurity firm Cybereason, which utilizes behavioral analytics to identify threats, raised a huge $200 million from Japanese multinational SoftBank Corp and its subsidiaries to $400 million, the company said Tuesday.
The company based in Boston utilizes cognitive analytics and learning from machines to process data in real-time. According to the website of the company, the software can inform businesses if they are under assault, evaluate its effect and move to prevent the danger.
Cybereason’s client base has grown by more than 300 percent over the past two years, protecting more than 6 million points, the firm said in a declaration. The company also has headquarters in Tel Aviv, Tokyo, London, Sydney, Continental Europe, and Asia-Pacific.
The raised funds will help the company boost worldwide revenues, work with extra partners and further improve its product offering, including an independent safety software, the declaration said, to assist companies to use artificial intelligence-based technology to identify cybersecurity attacks and depend less on analysts ‘ manual job.
“Because of our technology, our individuals and our associates, we are leading the wave, becoming the most reliable and efficient endpoint prevention and detection solution in the world,” said Lior Div, CEO, and co-founder of Cybereason in a declaration.
“We assist all safety teams to prevent more assaults, earlier, in ways that allow quicker comprehension and decisive action.” Cybereason will also say it will boost investment in its key R&D and assess possibilities for acquisition to expand its operational scope.
Operation SoftCell, a huge hack of several worldwide telecommunications businesses involving the robbery of large quantities of private information, allegedly carried out by state-backed actors in China, was recently discovered by Cybereason.
SoftBank Corp., a SoftBank Group Corp. subsidiary, is one of the largest shareholders in Cybereason and one of its largest clients. The Japanese company offers clients in Japan with mobile communication, fixed-line communication, and internet connection services. In 2017, after spending $59 million in 2015, SoftBank invested $100 million in Cybereason. Other start-up companies established in 2012 include CRV, Spark Capital, and Lockheed Martin.
“Cybereason plays a major position in assisting businesses to handle cybersecurity hazards and safeguard data from people,” said SoftBank Group Chief Operating Officer Marcelo Claure. “AI-driven technology like Cybereason’s helps secure our increasingly linked environment.” The investment follows last week’s announcements of two other Israeli start-ups, Lightricks, a photo, and video editing app manufacturer, who said it raised $135 million last Wednesday. And said it raised $150 million from investors in a bid on Tuesday last week.
According to IVC Research Center, which monitors the sector, Israeli startups in their development phase are gaining access to bigger pools of capital, particularly from overseas investors. Startups with original income and income development phases raised $2.02 billion in 70 deals in the second quarter of this year, the largest quantity since 2013, IVC said.
