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Cybereason’s $200 Million Raise and Two-Year IPO Aim: What Happened

Cybereason’s 2019 $200 million financing came with a reported two-year IPO ambition. The company was later acquired by LevelBlue in 2025.
From TheFinanceBase Team2 min to read
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Cybereason announced $200 million in investments and commitments led by SoftBank in August 2019, bringing its reported invested and committed capital to approximately $400 million. Its CEO’s reported aim to take the company public within two years did not culminate in a public listing on that timetable: LevelBlue announced it completed its acquisition of Cybereason on November 25, 2025.

What the $200 million announcement meant

On August 6, 2019, Cybereason said SoftBank Group and its affiliates had supplied $200 million in investments and commitments. The company described the announcement as bringing its total invested and committed capital to approximately $400 million. Those figures reflect Cybereason’s own announcement and its combined wording of invested and committed capital, not a standalone measure of cash received or a valuation. Cybereason’s August 2019 announcement described the company as an enterprise cybersecurity provider offering endpoint detection and response, next-generation antivirus, and active monitoring.

The financing supplied additional backing for a business selling cybersecurity software and services to organizations. The announcement does not establish a specific use for every dollar or explain that the new funding was intended to finance an IPO.

What was said about an IPO—and what was not

TechCrunch reported in July 2021 that CEO Lior Div had said in August 2019 that Cybereason planned to IPO within two years. That is a reported ambition, not a verbatim quotation, formal IPO filing, or guarantee of a listing date. In its 2021 report, TechCrunch noted that Div would not be pressed on whether the company was gearing up to go public. TechCrunch’s July 2021 report therefore documents the earlier aim, but does not show that an IPO was imminent or underway.

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Cybereason’s subsequent funding announcements

Further financing followed, but later rounds do not by themselves demonstrate that the IPO plan was on track. Company announcements used different descriptions and reported figures at different dates; the numbers should be read in their stated contexts rather than added into a single cumulative total.

Date Announced financing Lead investor(s) stated Company-stated context
July 14, 2021 $275 million Liberty Strategic Capital Cybereason called it crossover financing and said it followed $389 million in prior funding. Company announcement
September 21, 2023 $120 million SoftBank Corp. Cybereason said a round initially announced in April had expanded to $120 million. Company announcement
March 10, 2025 $120 million SoftBank Corp., SoftBank Vision Fund 2, and Liberty Strategic Capital Cybereason announced an investment of this amount. Company announcement

The 2021 release’s $389 million prior-funding figure is not directly interchangeable with the 2019 announcement’s approximately $400 million in invested and committed capital: the announcements use different language and dates. The figures above are each attributed to the corresponding company release.

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The eventual outcome: acquisition, not IPO

LevelBlue announced that it completed its acquisition of Cybereason on November 25, 2025. That is the documented later corporate outcome in the available announcements, rather than a public listing. LevelBlue also said SoftBank Corp., SoftBank Vision Fund 2, and Liberty Strategic Capital became investors in LevelBlue as part of the transaction. LevelBlue’s completion announcement describes Cybereason’s expertise in XDR and incident response; product and service descriptions from the companies are their own, not independent measures of performance.

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