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Boston-based online security start-up Cybereason said on Tuesday it raised $200 million in fresh funds from Japan’s SoftBank Group Corp and its affiliates.
That brings the total amount of funds the start-up raised to $400 million since it was founded in 2012. Other backers include Lockheed Martin, CRV and Spark Capital. Cybereason did not disclose its valuation.
The new funds will be used to “grow our global expansion with our partner community,” the CEO and co-founder of Cybereason, Lior Div, told CNBC. The start-up is headquartered in Boston and has offices in Tel Aviv, Tokyo, London, and Sydney as well as a presence in all continents.
Div added that Cybereason would also invest in research and development, and look at potential acquisition opportunities in order to stay “one step ahead of hackers.”
In a news release, the company said it would continue to innovate its core endpoint protection platform.
Endpoint protection platforms refer to technologies that can prevent malware attacks, detect malicious activities and provide corporate security teams with the ability to investigate and fix network breaches, according to Gartner.
Cyberattacks and data breaches against companies have increased, forcing businesses to invest in more advanced means of protection against hackers.
In a study published by management consultancy EY, CEOs said they see cyberattacks as the number one threat to the global economy over the next five to 10 years.
