The story
Cybereason was founded in 2014 by Lior Div and Yonatan Striem-Amit. In 2014, two years after being founded and incorporated in Delaware, USA, Cybereason established its headquarters in Boston, Massachusetts. In November 2016, three months after incorporating a subsidiary in the United Kingdom, it established a new office in London.
In June 2017, Cybereason launched Malicious Life, a podcast about the history of cybersecurity. Hosted by Ran Levi, it ended its run after 258 episodes in December 2024.
In April 2018, Cybereason established an office in Sydney, a distribution partnership with Nextgen Distribution, and a channel partnership with Sydney-based security firm Seccom Global to support Australia and New Zealand.
In June 2019, Cybereason reported on "Operation Soft Cell," a massive state-sponsored espionage campaign targeting multiple global telecommunications providers. The attack was attributed to APT10 (aka Red Apollo), thought to be backed by the Chinese government.
IPO Plans and Aftermath
In February 2022, Reuters reported that Cybereason had confidentially filed to IPO later in 2022 with a target valuation of $5 billion.
However, in June 2022 the company laid off roughly 100 employees, or about 10% of its total workforce, as startup valuations plummeted. Since then, Cybereason has seen two more rounds of layoffs: about 200 employees (or about 17% of the workforce) were let go in October 2022, and then a third round in March 2024 that impacted dozens of senior employees.
In October 2022, Cybereason conceded that "the tech IPO market has essentially closed," forcing it to drop its IPO plans and hire JPMorgan Chase to find a buyer for the company.
Proposed Merger and Aftermath
In November 2024, Cybereason and Trustwave announced a definitive merger agreement, with SoftBank as the majority investor and Trustwave’s current owner, MC2 Security Fund, a private equity fund sponsored by The Chertoff Group, continuing to be a channel partner and strategic advisor. The deal was expected to close in early 2025, pending customary closing conditions and regulatory approvals, and the two companies were expected to "function independently but collaborate strategically on value-added services and capabilities."
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In February 2025, CEO Eric Gan sued SoftBank Vision Fund and Liberty Strategic Capital, accusing them of putting the company at risk of bankruptcy by rejecting multiple plans for a much-needed capital infusion of as much as $150 million. Several weeks later, on March 5, 2025, Mr. Gan resigned as CEO from Cybereason, and the planned merger with Trustwave was also terminated according to an unnamed source cited by Bloomberg News. In May 2025, Eric Gan voluntarily dismissed his claims against Cybereason and its shareholders.
From Wikipedia’s article on Cybereason, shared under CC BY-SA 4.0.7