Cybereason says partners crucial to growth amid $100m funding top up

Endpoint protection vendor also announces intent to change CEOs

Cybereason's EMEA boss hailed partners as "crucial to our continued growth" as the extended detection and response (XDR) vendor received a further $100m funding injection.

One of six ‘Leaders' in Gartner's latest Magic Quadrant for Endpoint Protection Platforms, Boston-headquartered Cybereason has raised $750.6m since it was founded in 2014, according to Crunchbase.

The latest injection, which was led by SoftBank Corp, is designed to support Cybereason's global growth and advances its innovation in the XDR, EDR and EPP space.

At the same time, the vendor announced its intention that Eric Gan will serve as the company's new CEO, with current CEO and Co-founder Lior Div set to transition to the role of advisor.

Gan is currently an executive VP of SoftBank, which initially invested in Cybereason in 2015.

"I have watched Cybereason grow from its earliest stages to a leader in the cyber industry as evidenced by its recent position as a leader in the Gartner Magic Quadrant for EPP and its record-breaking MITRE ATT&CK results. I look forward to supporting Cybereason's next stage of global growth and scale," said Gan.

In a statement for CRN Frank Koelmel, Cybereason EMEA general manager said: "This new financing will help position Cybereason for global growth and help advance its innovation in XDR, EDR and EPP solutions. Cybereason's ecosystem of partners is crucial to our continued growth and foray into new sectors and geographies."

Div added: "I am so proud of what we have accomplished at Cybereason and I look forward to being a part of helping the company move to the next level."