Earlier this month, an Israeli cybersecurity company Cyberperson Today announced the completion of a $100 million Series G funding round led by SoftBank Corp. At the time the assumption was that because the recent investment was from existing investors, the company’s valuation hadn’t changed significantly since the $2.7 billion valuation when it raised $355 million in December 2021.
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However, Axios reported today that a Delaware stock authorization form seen by Nasdaq Private Market stated that Series G shares were being sold at a discount of more than 90%.
Cybereason was founded in 2012 in Israel by former CEO Lior Dev, Yonatan Stream-Amit, and Yossi Naar – all veterans of the IDF’s Intelligence Unit 8200. In 2019, Cybereason moved its headquarters to Boston while development activities remained in Israel .
Cybereason’s XDR platform combines endpoint prevention, detection, and response into one lightweight form factor. The company says it identifies, detects, and terminates malicious processes before they take hold, allowing users to terminate attacks in minutes.
Earlier this month, Cybereason announced that former SoftBank Executive Vice President Eric Gan would replace Div as CEO. “In the low-tech market, the company considered many alternatives, but ultimately our commitment to shareholders and the ability to fund our entire business. Coupling this new round with a new management team and focus on product innovation sets the company for long-term growth,” Gan told Axios. Which makes the total share price or even valuation not as important as our disciplined focus on the company. The company has been very disciplined in raising no more than it believes it needs, thus limiting the amount of dilution.”
Published by Globes, Israel business news – en.globes.co.il – on April 24, 2023.
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