SoftBank invests $100 million in Cybereason, a cybersecurity-focused startup

Cybereason said on Wednesday it received $100 million in investment from its biggest investor SoftBank Corp, as the cybersecurity-focused startup looks to develop new technologies and increase distribution channels.

SoftBank, a subsidiary of SoftBank Group Corp, is also one of Cybereason's biggest customer and distribution partner. Following the latest financing, Cybereason has raised a total of $189 million in capital from CRV, Spark Capital, Lockheed Martin and SoftBank since its inception in 2012.

The Boston, Massachusetts-based firm's products are used by companies to protect their systems from cyber attacks, such as the recent WannaCry ransomware attack. The WannaCry attack in May infected 300,000 computers in more than 150 countries, disrupting factories, hospitals, shops, and schools.

WannaCry, also known as WannaCryptor, or WCry had created havoc across the world, especially Europe. It had supposedly affected 200,000 computers worldwide. Once in the system, it demands a ransom of 300 dollars in bitcoin (around rupees 19,000). However, the price doubles if the required sum is not paid within three days. And as reported earlier, WCry claims the data cannot be recovered. Modern encryption standards make it almost impossible to recover encrypted data without an immense amount of computing power at your disposal, and even then, the chances of recovery are slim.

Reuters

 


Published Date: Jun 21, 2017 02:56 pm | Updated Date: Jun 21, 2017 02:56 pm