Cybereason has raised approximately $750 million to date and was valued at around $3 billion last year following a $275 million fundraising.
Cybereason, a fast-growing cybersecurity company behind major endpoint protection in government and institutions, has reportedly filed for confidential paperwork with United States regulators to go public later this year. According to news outlet Reuters, people familiar with the matter revealed that the Cybereason company is eyeing an IPO that could value it at more than $5 billion.
The SoftBank and Alphabet Inc.-backed firm has finalized underwriters for the IPO who are expected to be revealed during the second half of 2022. Cybereason has raised approximately $750 million to date and was valued at around $3 billion last year following a $275 million fundraising.
Since the cyberattack on the United States Colonial Pipeline that shut down a major oil pipeline, large corporations and government agencies are spending more money and time on system protection. Moreover, cryptocurrencies like Monero have enabled malicious attacks and dark web activities that have resulted in huge losses.
While some cyber attackers are financially motivated, some have complicated the attacks by focusing on politically instigated issues. Cybereason has heavily invested in the industry by hiring top-notch talents from all over the world. Among them are military-grade experts with vast knowledge in the industry. No wonder Cybereason was ranked position 32 in the ninth annual CNBC Disruptor 50.
Besides the notable investors, Cybereason takes pride in support from Liberty Strategic Capital, the investment firm of former Treasury Secretary Steven Mnuchin.
The US-Israeli cybersecurity firm has seen its cyber security tools used by global enterprises and mobile devices all over the world.
Cybereason and Its Activities Ahead of Its IPO
Reports of attacks have increased over time, particularly geopolitically motivated attacks. Enterprises find it easier to hire specialists in the field to curb system attacks and in turn focus on other matters that entail company growth.
Cybereason’s bird’s eye view gives it a vantage point to its competitors. Besides, the company is heavily invested by leading tech companies that ultimately become the number one customers.
For instance, in its recent cyber operation, Cybereason has been tracking an Iranian hacker group known as Moses Staff.
According to the company, the hacker group’s motivation is to harm Israeli companies by leaking sensitive, stolen data. Among other countries on the hacker’s radar, Cybereason noted that the group is not financially motivated.
“Unlike financially motivated cybercrime ransomware groups who encrypt the files as leverage for ransom payment, the encryption of the files in the Moses Staff attacks serves two purposes: inflicting damages by disrupting critical business operations, and covering the attackers’ tracks,” the firm noted in its recent blog post.
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