Israeli co Cybereason seeks buyer for $2.5b – report

Israeli cybersecurity company Cybereason has hired investment bank JPMorgan Chase & Co. to seek a buyer, “The Information” reports, according to a source with direct knowledge of the matter. The website adds that Cybereason is currently valued at $2.5 billion and that the company is looking for a buyer because of slower growth and a hot acquisition market. In June the company laid off 100 employees out of its workforce of 1,500.

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Cybereason files for $5b valuation NY IPO – report

In February, “Reuters” reported that Cybereason had confidentially filed with the US Securities and Exchange Commission (SEC) for a Wall Street IPO at a $5 billion valuation. But “The Information” now reports that the company has abandoned its plans for an IPO due to the slump on the US stock exchange.

Cybereason has raised $750 million, according to PitchBook, and investors include SoftBank Vision Fund II, Alphabet (Google), and Liberty Strategic Capital, the investment firm of former US Treasury Secretary Steve Mnuchin. Other investors include CRV and Spark Capital. Cybereason’s most recent financing round was completed last July when it raised $275 million, at a company valuation of $3.2 billion.

The company was founded in 2012 in Israel by CEO Lior Div, CTO Yonatan Striem-Amit, and CVO Yossi Naar – all veterans of the IDF’s 8200 intelligence unit. Three years ago the company moved its headquarters to Boston while development activities remain in Israel.

Cybereason’s XDR platform combines endpoint prevention, detection, and response all in one lightweight agent. The company says that it recognizes, exposes, and end malicious operations before they take hold allowing users to end attacks in minutes.

Published by Globes, Israel business news – en.globes.co.il – on October 23, 2022.

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