Cybereason, a cybersecurity firm, has raised $275 million in a deal that triples the Boston company’s valuation and brings in two senior Trump administration officials as advisers, it said Wednesday.
The company, which provides cybersecurity defenses for governmental and private clients, will now be valued at $3.1 billion to $3.3 billion, according to Israeli media, tripling the valuation it received after a $200 million funding round two years ago. Cybereason has now raised a total of $664 million since its founding in 2012.
The new funding round underscores the Massachusetts startup community’s strength in drawing private investment. In the first six months of 2021, the state’s companies raised $17.4 billion in venture capital funding, outpacing the total raised in 2020.
Liberty Strategic Capital, a private equity firm started in 2021 by Donald Trump’s secretary of the treasury, Steven Mnuchin, led the latest funding round. As part of the deal, Mnuchin will join Cybereason’s board of directors. General Joseph Dunford, who is also affiliated with Liberty Strategic Capital and served as Trump’s top military adviser until 2019, will join Cybereason’s advisory board.
Lior Div, cofounder and chief executive of Cybereason, said the company’s technology outpaces its competitors’ in defending against cyber breaches, which have risen sharply around the world.
“We’ve experienced hypergrowth across the globe,” Div said in a statement. “We are just getting started.”