CyberSun, a security startup backed by SoftBank’s Vision Fund 2 and Alphabet Inc.’s Google Cloud unit, has confidentially filed for a US initial public offering that would be worth more than $5 billion, according to people familiar with the matter. . could.
Cyberiasan, which also counts Liberty Strategic Capital, the investment firm of former US Treasury Secretary Steven Mnuchin, has finalized underwriters for its IPO, which could come in the second half of the year, sources said.
The sources, who requested anonymity because discussions are confidential, cautioned that the timing and size of the flotation was subject to market conditions.
CyberSun declined to comment.
Cybersun was valued at about $3 billion when it raised $275 million from investors last year. According to Pitchbook, it has so far raised about $750 million from investors.
Large companies and government agencies increased spending on cyber security services during the COVID-19 pandemic, as employees began working remotely amid the widespread lockdown. Cyber Season and other companies in the cyber security sector saw rapid growth during that period.
CyberSense, which competes with other cybersecurity players such as CrowdStrike and SentinelOne, creates artificially intelligent software and provides a variety of services, including ransomware protection and malware attack prevention.
CyberSun’s software is installed in computers, mobile phones and other technology systems. The company also created a subsidiary focused on preventing malicious actions targeting US government agencies.
Other major investors in CyberSun include Lockheed Martin, CRV and Spark Capital.
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