Prevention, detection, and response solutions provider Cybereason on Wednesday announced raising $275 million in a crossover funding round, which brings the total raised by the company to more than $663 million.
The financing round was led by Liberty Strategic Capital, with participation from Neuberger Berman and Softbank. Cybereason says it plans on using the money to fuel its growth, including enhancing and expanding its product offerings.
Israeli news outlet Globes reported that the Boston, Massachusetts-based company has been valued at roughly $3.2 billion.
Steven Mnuchin, founder and managing partner of Liberty Strategic Capital, who served as Treasury secretary during the Trump administration, will join Cybereason’s board of directors.
Late-stage crossover financing often precedes an initial public offering (IPO), but neither Mnuchin nor Cybereason CEO Lior Div could provide a precise timeline for an IPO when asked about it by CNBC.
Cybereason competitor SentinelOne went public late last month and it reportedly exceeded its IPO goal to raise $1.2 billion. The company’s shares have been in the $40-50 range.
Founded in 2012, Cybereason has developed a platform that includes next-generation antivirus, endpoint controls, endpoint detection and response, mobile protection, cloud protection, threat intelligence, incident response, threat hunting, and assessment capabilities.
The company achieved unicorn status in 2019, after raising $200 million in a Series E funding round.
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