A Boston-based cyber security firm, Cybereason which specialises in endpoint detection and response to security breaches has secured $100 million funding from SoftBank Corp. A subsidiary of the Japanese SoftBank Group.
Cybereason has been able to raise up to $189 million in funding to-date. Some of its other investors are Charles River Ventures, Spark Capital and Lockheed Martin. However, the start-up didn’t disclose its valuation so far.
Lior Div, co-founder and chief executive officer at Cybereason said that this capital will enable the firm to grow faster and develop technology for the industry.
Lior Div founded Cybereason in 2012 along with Yossi Naar and Yonatan Striem-Amit.
The new capital will help the startup to expand its product offering. Moreover, it will have access to better manpower and increase in size. Its offices are present in Boston, Tel Aviv, London and Tokyo. Moreover, covering the entire EMEA and APAC regions.
To make things clear the funding is not from the Vision Fund of SoftBank Group. This funding entirely came from its subsidiary SoftBank Corp.
The recent increase in cyber attacks on companies has raised the opportunity for the cyber security industry as well. Moreover, the businesses are eager to spend more to keep their data safe. During past one month, the ransomware attacked approximately 200000 machines around the world.
According to the CEO, ransomware is one of the biggest threats facing the companies today. Moreover, he said that the problem lies in not keeping up to date with the online cyber threats.
Cybereason’s technology is a leading tech in behavioural analytics keeping an eye on every single digital action. It monitors every interaction in the company’s network. The process of monitoring is real-time. Moreover, its ability to pull information and display results makes it a potent security provider against the modern cyber threats.
With the help of this technology, the IT professionals are able to detect and act promptly against threats. The damage to the data is minimal when Cybereason is there to protect the firm.
Because the technology is behavioural it is able to go beyond the basics of 0nes and zeroes. It takes into account the whole process of information assimilation and dissemination. Cybereason is much better when compared to conventional means of cyber security. It can scan and prevent a lot of potential threats circulating the web right now.
The industry experts believe that these threats will increase in future. The connectivity of devices and the Internet of Things is making it difficult to provide an umbrella of security cover. Therefore, technology firms like Cybereason are future of cyber security.
