This infusion doubles the company’s funding and makes it more prominent among other technology startups in the region. This latest funding values Cybereason at about $1 billion.
Softbank led the previous $59 million venture round in Cybereason, which closed in October 2015, and lead to a joint venture between the two firms giving a security platform in the Japanese market. The firm also recently purchased Waltham-based robotics company Boston Dynamics from Alphabet Inc. In May, Softbank closed on $93 billion of an intended $100 billion “Vision fund”, the largest technology investment fund in history.
The Boston, Massachusetts-based firm’s products are used by companies to guard their systems from cyber attacks, such as the latest
WannaCry attack. ransomware
in infected 300,000 computers in more than 150 countries, distracting manufacturers,
hospitals, shops and even schools. WannaCry
“Our strengthened partnership with Softbank, which has a formidable sales force and enterprise customer base in Japan and a global reach, will also enable us to further expand our presence in the cyber security market.”
“Right now, I believe that there is a very rare opportunity for us to build a huge business,” Div said. “ I want to dominate the cyber security market as we define it,” he added.
Softbank, a subsidiary of Softbank Group Corp, is also one of the biggest customers and distribution partners of Cybereason.
Meanwhile, by 3:00 PM GMT +9, Softbank Group Corp traded 0.98%, or 91, to JPY 9,182. It opened in JPY 9,300, with a session high of JPY 9,339 and a session low of JPY 9,160. Its market capitalization was 10.11 trillion, with a P/E ratio of 11.77 and a dividend yield of 0.48%.