Cybereason, American-Israeli security startup backed by SoftBank's (9984.T) Vision Fund 2 and Alphabet Inc's (GOOGL.O) Google Cloud unit, has confidentially filed for a US initial public offering that could value it at more than $5 billion, according to sources familiar with the matter.
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Cybereason, which also counts former US Treasury Secretary Steven Mnuchin's investment firm Liberty Strategic Capital among its investors, has finalized underwriters for its IPO, which could come in the second half of the year, the sources said.
Cybereason was valued at roughly $3 billion when it raised $275 million from investors last year. It has raised nearly $750 million from investors to date, according to PitchBook.
Cybereason, which competes with other cybersecurity players like CrowdStrike and SentinelOne, builds artificially intelligent software and offers a variety of services including ransomware protection and prevention of malware attacks.
Its software is installed across computers, mobile phones and other tech systems. The company also created a subsidiary focusing on preventing malicious operations targeting US government agencies.
