Cybereason CEO says IPO is ‘the next step’ for the companywritten by Bella Palmer
CEO of Cybereason Lior Div says the company is ‘ready’ to go to market now and is challenging ‘old guard’ companies
The CEO of Cybereason has said an IPO is ‘the next step’ for the US cybersecurity company but is unlikely to happen within the next six months.
Lior Div says the company he founded alongside CTO Yonatan Striem-Amit and Yossi Naar is ‘ready’ to go to market now and is challenging ‘old guard’ companies such as McAfee, Palo Alto and Microsoft.
However, Cybereason is waiting for the right time in the market to launch its IPO.
Cybereason was founded in 2012 and currently has 850 employees globally, with 350 of them based at Cybereason’s Israeli R&D centre. It provides an enterprise software platform for endpoint and extended detection and response (XDR) services.
Div’s comments confirm a report by GlobalData thematic analysts that identified Cybereason as a unicorn likely to go public in the next two years.
Following a $275m Series F funding round in July, the company was estimated to be valued at between $3.1bn and $3.3bn. Two years ago it declined an acquisition offer that valued Cybereason at $1.5bn.
Div declined to share a specific valuation figure but added that the numbers being reported are ‘not so wrong’. He confirmed that Cybereason would be pursuing the IPO route and not a merger with a special purpose acquisition company (SPAC).
According to Div, the market has lagged behind and still views cybersecurity companies as specialising in one area, such as firewalls, endpoint or network.
According to him, this is the incorrect way to view the market.
Because when hackers look at the problem, they don’t think like this, he explains. They look at the attack surface, they’re thinking about what they need to achieve, and then they do it.
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