Cybereason News
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Cybereason, founded in Israel, and which was once valued at $2.73 billion, raised money earlier this year at a valuation of $850 million.
Cybereason, a cybersecurity company founded in Israel, has been acquired by US cybersecurity services company LevelBlue in an all-share deal. The acquisition is part of a broader industry consolidation trend. Cybereason, once valued at $2.73 billion, saw its valuation drop to $475 million in October 2023 before recovering to $850 million after raising $120 million in March 2023. Main investors include Liberty Strategic Capital and SoftBank, who will become shareholders in LevelBlue. The company is facing fierce competition from Palo Alto Networks and SentinelOne. Additionally, Cybereason plans to lay off dozens of senior employees.
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ענקית שירותי האבטחה המנוהלים LevelBlue רוכשת את חברת הסייבר הישראלית-אמריקאית Cybereason בעסקת מניות, שלוש שנים לאחר ששוויה הוערך ב-3 מיליארד דולר
The Boston- and Tel Aviv-based company had raised over $900 million before succumbing to industry headwinds.
Cybereason, a cybersecurity company once valued at over $3 billion, has been acquired by LevelBlue, a provider of managed security services. The acquisition, announced on a Tuesday, aims to combine LevelBlues AI-powered managed detection and response capabilities with Cybereasons Extended Detection and Response platform. The deal is estimated to be a stock agreement, with SoftBank Corp., SoftBank Vision Fund 2, and Liberty Strategic Capital becoming investors in LevelBlue. This acquisition follows Cybereasons struggles, including internal conflicts, layoffs, and a steep valuation decline. The company had previously secured a $120 million emergency investment led by SoftBank and Liberty Strategic Capital to stabilize operations.
Acquired-byLayoffsInvestmentManagement Changes
The funding, led by SoftBank and Liberty Strategic Capital, comes after months of financial turmoil and a shift away from a merger with Trustwave.
Eric Gan steps down after accusing Mnuchin, SoftBank of obstructing vital financing.
Cybereason, a cybersecurity startup, is facing a severe financial crisis following the resignation of its CEO, Eric Gan, amid boardroom disputes. Gan, who took over in 2023, resigned due to irreconcilable differences with the board and has filed a lawsuit against major investors, including SoftBank and Steven Mnuchin, accusing them of blocking crucial funding efforts. The company, once valued at $5 billion and preparing for an IPO, has seen its valuation drop to $300–$400 million after multiple layoffs. Despite a $100 million emergency investment from SoftBank in April 2023, Cybereason is struggling with debt and potential bankruptcy. A planned merger with Trustwave is uncertain due to the ongoing leadership and financial turmoil.
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Once $5 billion IPO bound, Cybereason merges with Trustwave amid decline | CTech
Cybereason, an Israeli-founded cybersecurity company, is merging with Trustwave, an American cybersecurity firm. The merger comes amid a challenging period for Cybereason, which has seen a 90% drop in valuation and significant layoffs. SoftBank remains the majority investor in the new entity. The merger aims to enhance market presence by offering integrated cybersecurity solutions. Cybereason had previously aimed for a $5 billion IPO but faced setbacks due to economic challenges, leading to over 300 layoffs and a valuation drop to $300-400 million. The merger is seen as a strategic move to compete in a saturated market by leveraging combined strengths in various cybersecurity services.
Acquired-byLayoffsManagement Changes
Cybereason crisis continues with dozens of jobs to be cut in third round of layoffs | CTech
Cybereason, a cybersecurity company, is undergoing significant reorganization, including a third round of layoffs and the departure of Zohar Alon, President of Product and R&D. The companys value has dropped by 90% from $3 billion to $300 million, and its CEO has resigned. The company had previously been on the verge of an IPO in 2021. The layoffs and reorganization come after the companys main investor, SoftBank, demanded immediate and massive cuts. The company has parted ways with more than 300 employees in two large rounds of layoffs.
LayoffsManagement Changes
Cybereason valuation dropped by over 90% in recent funding round | CTech
Cybereason received a $100 million investment from SoftBank Corp., but the companys valuation has decreased significantly. The new CEO, Eric Gan, replaced co-founder Lior Div. The investment was made at a valuation of $300-400 million, compared to the previous valuation of roughly $3 billion. Cybereason had previously raised $275 million in 2021. The company also experienced layoffs, with 200 employees being let go in October. Despite the valuation decrease, the new management and focus on product innovation are expected to maximize the companys potential.
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SoftBank invests another $100 million in cyber unicorn Cybereason, replaces CEO | CTech
SoftBank Corp. is investing $100 million in Cybereason, making it the companys leading shareholder. Eric Gan will serve as the new CEO, replacing Lior Div who will become an advisor. Cybereason had previously laid off 200 employees, but the company has been performing well and meeting its sales goals. Cybereason is a cybersecurity company that offers AI software and services for protection against ransomware and malware attacks. It has been recognized as a leader in the industry and has raised a total of $850 million from investors. The company was founded in 2012 by three Israeli partners.
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NEW Cybereason Study Reveals That Ransomware Attacks and Workforce Shortages are Keeping a Stranglehold on Security Operations Centers
Cybereason, a cybersecurity company, published the results of a global study on security operations centers (SOCs) and the impact of cyberattacks and staffing shortages on modernization. The study revealed that ransomware is the biggest threat faced by organizations, followed by supply chain attacks and daily targeted attacks. Many respondents expressed the need for more staff and contracted services to deal with the growing ransomware threat. The study also highlighted the lack of insight and visibility into attack stories, with respondents in Italy and the travel and transportation industry facing the highest levels of visibility challenges. Cybereason emphasized the importance of decentralized, capabilities-based SOCs that leverage industry-leading technologies and managed services. The research was conducted in Q4 2022 and involved 1,203 cybersecurity professionals from various countries and industries.
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Gartner Positions Cybereason in the 'Leaders' Quadrant of the 2022 Magic Quadrant for Endpoint Protection Platforms
Cybereason has been named a Leader in the 2022 Magic Quadrant for Endpoint Protection Platforms by Gartner. The companys growth includes achieving the best results in the history of the MITRE Engenuity ATT&CK Evaluations for Enterprise, being named to CNBCs Disruptor 50 list, and being named to the Forbes Cloud 100. Cybereasons CEO and Co-founder, Lior Div, highlighted the companys ability to protect customers from cyberattacks and data breaches. The article emphasizes Cybereasons evolution as a next-generation vendor and its qualification to end threats in customer environments.
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Cybereason to lay off 17% of workforce
Cybereason, an Israeli cybersecurity company, has confirmed it is laying off 17% of its workforce, including 50 employees in Israel, as part of a streamlining process. The company is focusing on financial efficiency over growth due to significant changes in market conditions and the closure of the tech IPO market. Despite the layoffs, demand for Cybereasons technology remains high. The company has raised $750 million from investors including SoftBank Vision Fund II, Alphabet, and Liberty Strategic Capital.
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Cybereason looking for buyer after IPO falls through | CTech
Israeli cybersecurity unicorn Cybereason, valued at $2.5 billion, has abandoned its plan to go public and is seeking a sale instead. The company has hired J.P. Morgan to lead the search for a buyer. Cybereason had previously filed for a U.S. IPO that could have valued it at over $5 billion but is now changing its strategy due to market conditions. The company laid off around 100 employees in June and is active in over 50 countries with a total of 1,500 employees. Cybereason builds AI software and offers services for ransomware protection and malware prevention. It competes with cybersecurity players like CrowdStrike and SentinelOne.
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Cybereason Warns Global Critical Infrastructure Operators After Attacks from Ragnar Locker Ransomware Gang
Cybereason, a cybersecurity company, has issued a global Threat Analysis Report on the Ragnar Locker ransomware gang and its attacks on critical infrastructure operators. The report assesses the threat level as HIGH. Ragnar Locker has carried out over 50 successful attacks on U.S. critical infrastructure operators and recently targeted Greeces largest natural gas provider. The ransomware group uses a double extortion scheme, stealing sensitive information and threatening to publish it unless a ransom is paid. Cybereason provides recommendations to organizations to reduce the risk of ransomware attacks. They suggest implementing security awareness programs, conducting drills, isolating infected devices, and deploying Endpoint Detection and Response (EDR) on all endpoints. Cybereason is a privately held international company headquartered in Boston.
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Cybereason laying off 100 employees in Israel, U.S. and Europe CTech
Cybereason, a cybersecurity company, is laying off around 100 employees in Israel, the U.S., and Europe. The layoffs come after the company confidentially filed for a U.S. initial public offering (IPO) that could value it at more than $5 billion. Cybereason, backed by SoftBanks Vision Fund 2 and other investors, has finalized underwriters for its IPO, which is expected to take place in the second half of the year. The company, founded in 2012, offers AI-based software and services for cybersecurity. It has raised nearly $750 million from investors to date.
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US-Israeli cyber firm uncovers 'massive' Chinese-backed industrial espionage ring
Cybereason, a cybersecurity firm, has uncovered a massive hacking operation led by a group believed to be backed by China. The group, known as the Winnti Group, has engaged in intellectual property theft and industrial espionage on three continents. Cybereasons research shows that the group has been active since at least 2010 and has targeted technology and manufacturing companies in the US, Europe, and Asia. The extent of the damage caused by the group is difficult to assess. Cybereason has briefed the FBI and the Department of Justice on its research. The company has raised over $700 million in capital and has confidentially filed for an IPO that could value the company at more than $5 billion.
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Cybersecurity unicorn Cybereason opening new R&D center in Beer Sheva CTech
Cybereason, an Israeli cybersecurity company, is expanding its operations by opening a new R&D center in Beer Sheva. The company, which already has an R&D center in Tel Aviv, plans to recruit over 100 new employees for the Beer Sheva center. The decision to expand to Beer Sheva was driven by the companys growth and the popularity of the hybrid work model. Cybereason has experienced significant growth over the past year, doubling its workforce in Israel. The new center will be headed by Roy Zwebner, former CEO of the Gav-Yam Negev High Tech Park. Cybereason has also confidentially filed for a US IPO that could value the company at over $5 billion. The company is backed by SoftBanks Vision Fund 2, Google Cloud, and Liberty Strategic Capital.
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Cybereason files for $5b valuation NY IPO - report
Israeli cybersecurity firm Cybereason has confidentially filed with the US Securities and Exchange Commission (SEC) for an IPO, which could take place in the second half of 2022. The company is reportedly valued at $5 billion. Cybereason has raised $750 million in funding, with investors including SoftBank Vision Fund II, Alphabet (Google), and Liberty Strategic Capital. The companys most recent financing round was completed in July, raising $275 million at a valuation of $3.2 billion.
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Google Cloud invests $50 million in cybersecurity startup Cybereason
Cybereason, a cybersecurity company, has secured a $50 million investment from Google Cloud. The investment extends Cybereasons series F round to $325 million, making it one of the best-funded startups in the cybersecurity industry. Cybereason and Google Cloud have entered into a strategic partnership to bring to market a platform called Cybereason XDR, powered by Chronicle. The platform scans over 23 trillion security-related events per week and applies AI to reveal, mitigate, and predict cyberattacks. Cybereasons platform helps prevent malware and ransomware through behavioral analysis, AI, and machine learning. The company faces competition from other cybersecurity companies such as SentinelOne, Cylance, CrowdStrike, and Dtex Systems. Prior to the investment from Google Cloud, Cybereason received funding from Softbank Vision Fund 2 and Lockheed Martin.
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Cybereason and Google Cloud join forces for new XDR service
Cybereason has partnered with Google Cloud to provide a cloud-native extended detection and response service. The new service, called Cybereason XDR powered by Chronicle, aims to detect, prevent, and respond to security threats by unifying data from various sources. This partnership marks the first time Cybereason has collaborated with Google on such a large-scale project. The collaboration is expected to enhance Cybereasons threat hunting and incident response services, as well as provide research on ransomware attacks and threat groups. The partnership between Cybereason and Google Cloud is seen as a positive growth opportunity for both companies. There is speculation that this partnership could potentially lead to an acquisition in the future.
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Cybereason exposes Iranian state-sponsored cyber espionage
Israeli cybersecurity firm Cybereason has published a report revealing a cyber-espionage operation targeting aerospace and telecommunication companies worldwide. The report identifies a newly discovered Iranian threat actor called MalKamak, which has been active since at least 2018. The threat actor uses a Remote Access Trojan called ShellClient to evade antivirus tools and abuse Dropbox services. The attacks were found to have connections to Iranian state-sponsored threat actors. Cybereason takes an operation-centric approach to detect and respond to sophisticated attacks. The report highlights the abuse of cloud-based storage services for command and control purposes. Cybereason provides operation-centric attack protection to customers in 50 countries.
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Cybereason exposes alleged Chinese gov't telcos hack
Cybereason, an Israeli cybersecurity company, has exposed a Chinese surveillance system that infiltrated mobile telephony companies worldwide to gather subscriber information. The attackers, believed to be linked to Chinese government espionage services, managed to remain undetected within networks for years, obtaining information on millions of subscribers. The attack was carried out by three groups, Soft Cell, Naikon APT, and Group-3390, who are suspected to have acted in the interests of the Chinese government. The attack mainly targeted countries in South-East Asia, with Israel not being one of the countries mentioned.
Customers
Cybereason acquires empow, enhancing its XDR offerings
Cybereason has acquired empow, a security analytics company based in Tel Aviv, Israel. The acquisition will add predictive response technology, data integrations, and engineering and product talent to Cybereason. This acquisition will help Cybereason deliver on its mission to end cyberattacks. The empow acquisition will also accelerate integrations with over 70 leading IT and security vendors. Cybereason recently secured $275 million in crossover financing led by Liberty Strategic Capital, with additional backing from other investors. Cybereason provides attack protection and has customers in over 30 countries. empow, founded in 2014, has developed an AI-powered security information and event management (SIEM) solution.
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Cybereason raises $275m at $3.2b valuation, Mnuchin joins board
Israeli cybersecurity company Cybereason has raised $275 million in a financing round led by Steve Mnuchins Liberty Strategic Capital. The round also includes backing from SoftBank Vision Fund 2, Irving Investors, and certain funds advised by Neuberger Berman Investment Advisers LLC. The financing round values Cybereason at an estimated $3.1 billion to $3.3 billion, triple its previous valuation. Former US Treasury Secretary Steve Mnuchin will join Cybereasons board of directors. The company, which provides cybersecurity and protection against cyberattacks, plans to hire an additional 200 employees as it prepares for a public offering.
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Cybereason: 80% of orgs that paid the ransom were hit again
The article discusses the financial and reputational damage caused by ransomware attacks on businesses. It highlights the significant impact of these attacks, including loss of revenue, damage to the organizations brand, unplanned workforce reductions, and even closure of the business. The Cybereason Global Ransomware Study reveals that organizations implemented various solutions after experiencing a ransomware attack, with security awareness training and security operations being the top two solutions. The study also found that organizations that paid the ransom were often targeted by subsequent attacks. The article emphasizes the importance of prevention in managing ransomware risk. The event described in the article is Transform 2023, which will take place in San Francisco on July 11-12. The confidence level of the answer is 8.
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Cybereason CEO told the world about DarkSide's hacking techniques from a bomb shelter in Israel
Cybereason, a cybersecurity company, has experienced significant growth in the market of endpoint protection. The companys CEO, Lior Div, recently visited Israel and became interested in the cyberattack on the Colonial Pipeline, as the group responsible had previously targeted one of Cybereasons clients. Cybereason researchers traced the roots of the group, known as DarkSide, and discovered that they were selling a product called Ransomware as a Service. Div took it upon himself to raise awareness about DarkSide and how companies can protect themselves. Cybereasons special sauce is its web of sensors that automatically identify suspicious activity on networks. The company has seen 10 attempts by DarkSide to attack its clients. Cybereason raised $200 million from SoftBank in 2019 at a valuation of around $1 billion.
Customers
Cybereason XDR is Named Hottest New Cybersecurity Product
Cybereasons product, Cybereason XDR, was named one of the hottest new cybersecurity products of 2020 by CRN. The companys Cybereason Defense Platform also received a Best Buy rating from SC Magazine. Cybereason offers future-ready attack protection that unifies security from the endpoint to the enterprise. They provide detection and response, next-gen anti-virus, and proactive threat hunting capabilities. The company has received several accolades in 2020, including being recognized as a top place to work by Boston Globe and BuiltIn Boston. Cybereason is headquartered in Boston and serves customers in over 30 countries.
Customers
Cybereason Partners with Ensign to Provide Managed Detection and Response Services in APAC
Cybereason has announced a strategic partnership with Ensign InfoSecurity, a leading cybersecurity firm in the Asia Pacific region. This collaboration aims to enhance the cybersecurity solutions offered by Ensign, providing their customers with advanced threat detection and response capabilities. The partnership will allow mutual customers to access Cybereasons Defense Platform, which includes endpoint detection and response (EDR) and endpoint prevention (EPP) capabilities. This move is expected to strengthen Cybereasons presence in the Asia Pacific market and provide Ensigns clients with improved cybersecurity resilience. The partnership is seen as a positive development for both companies, aligning their capabilities and vision for cybersecurity in the region.
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Cybereason Partners with Ensign to Provide Managed Detection and Response Services in APAC
Cybereason has announced a partnership with Ensign InfoSecurity to expand cybersecurity solutions and services in the Asia Pacific region. The partnership will provide Ensigns customers with access to Cybereasons Defense Platform, enhancing threat detection and response capabilities. Cybereason sees great synergy in the collaboration and aims to deepen its collaboration with Ensign. The partnership comes as organizations face an expanding attack surface and increasingly sophisticated cyberattacks. Ensign InfoSecurity is the largest pure-play end-to-end cybersecurity service provider in Asia, while Cybereason is a leader in future-ready attack protection.
Partners
Cybereason Partners with Ensign to Provide Managed Detection and Response Services in APAC
Cybereason has announced a partnership with Ensign InfoSecurity to expand cybersecurity solutions and services in the Asia Pacific region. The partnership will provide Ensigns customers with access to Cybereasons Cybereason Defense Platform, enhancing threat detection and response capabilities. The collaboration aims to address the increasing cyber risks faced by organizations and their distributed workforce. Cybereasons expertise in endpoint detection and response (EDR) makes them a trusted partner for Ensign. The partnership will allow organizations to optimize their cybersecurity capability, make faster response decisions, and boost resilience through Managed Detection and Response. Cybereason is a leader in future-ready attack protection, while Ensign InfoSecurity is one of the largest pure-play cybersecurity firms in the Asia Pacific region.
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Xconomy: SoftBank Commits $200M to Cybereason, Cybersecurity's Newest Unicorn
The article does not provide any specific information or news about Informa PLC.