Israeli cybersecurity startup Cybereason raised $59 million in a series C round led by Japanese telecom conglomerate SoftBank Group with existing investors Charles River Ventures and Spark Capital taking part.
Headquartered in Boston with research and development in Tel Aviv, Cybereason provides endpoint protection and detection.
The round follows a $25 million investment by US defense contractor Lockheed Martin Corp in May. Like Lockheed, Softbank was a Cybereason customer prior to becoming an investor and reseller. As part of the round, SoftBank will distribute Cybereason’s product. Cybereason will open an office in Japan.
“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,” Ken Miyauchi, President & CEO of SoftBank Corp. said in a press release.
Israel is known for its cybersecurity startups. Cybereason is the latest Israeli security company to receive funding or be acquired.
Last week, it was announced that Massachusetts-based, Israeli-founded security company Viewfinity was being acquired by Israeli-founded CyberArk Software Ltd.
Last month, Microsoft Corp. confirmed it acquired Israeli cloud-security startup Adallom Inc.