Cybereason, a Cambridge, Mass.-based provider of threat detection solutions, announced on Tuesday that it has closed a $59 million Series C funding round led by SoftBank.
Founded by members of the Israeli intelligence agency’s cyber security Unit 8200, the company’s platform leverages big data analytics and machine learning to reduce the endpoint detection and response time by continuously “hunting” for known and unknown malicious activities within an environment.
Cybereason claims that its Endpoint Detection Suite can analyze up to eight million events per second to detect key elements of an attack, including its timeline, root cause, adversarial activity, malware involved, communication inside and outside of the environment and the affected endpoints and users.
As part of the funding agreement, Cybereason said it would also join forces with SoftBank to build and offer a joint solution to help Japanese organizations to defend against cyber attacks, which SoftBank will distribute in the Japanese market.
“Our deployment of the Cybereason platform internally gave us firsthand knowledge of the value it provides, and led to our decision to invest. I’m confident Cybereason and SoftBank’s new product offering will bring a new level of security to Japanese organizations,” said Ken Miyauchi, President & CEO of SoftBank Corp.
As a new investor in the company, SoftBank was joined by existing investors CRV and Spark Capital, which participated in a $25 million series B funding round announced in May.
Lockheed Martin is also a strategic investor in the company.
“We built our relationship with SoftBank to mirror the success we achieved with Lockheed Martin,” Lior Div, CEO and Co-founder of Cybereason said in a statement. “This model enables us to maintain our agility and focus on innovation while leveraging the credibility, resources and experience that only industry giants bring to the table.”
Cybereason is privately held and headquartered in Boston, Mass. with offices in Tel Aviv, Israel.
Cybereason will be exhibiting at the 2015 ICS Cyber Security Conference, taking place in Atlanta from Oct. 26-29th.