A Cybereason IPO (initial public offering) could arrive in 2022. The cybersecurity software company, which has been engaging MSPs and MSSPs, recently filed confidentially for a U.S. IPO, Reuters reported.
So what's next? Here are 10 things to know about a potential Cybereason IPO; the company's XDR (eXtended Detection and Response) and MDR (Managed Detection and Response) platforms; and MSP and MSSP partner engagement strategies.
1. Cybereason's Market Focus: The company's XDR Platform and MDR capabilities allow MSPs, MSSPs and end-customers to "recognize, expose, and end malicious operations before they take hold," Cybereason asserts. The company was founded in 2012 by Lior Div, an ex-soldier of Israel's Unit 8200, Wikipedia notes.
2. Potential IPO Timing: The Cybereason IPO could come in the second half of 2022, though market fluctuations could influence the timing.
3. Target Valuation: The IPO could value Cybereason at roughly $5 billion, the Reuters report indicated. By contrast, rival valuations include SentinelOne at $12.5 billion and CrowdStrike at $40.6 billion as of February 3, 2022. (Note: Valuations can change dramatically amid the current volatility on Wall Street.)
5. Existing Cybereason Investors: In addition to Google Cloud, existing investors include SoftBank and former U.S. Treasury Secretary Steven Mnuchin's investment firm Liberty Strategic Capital, Reuters noted.
6. Cybereason Revenues and EBITDA: Keep checking back for potential details.
7. Channel, MSP and MSSP Partner Strategy: Multiple milestones surfaced in 2021 and the moves continued into 2022. Much of the partner strategy involves MSPs and MSSPs, and incident response partners. Key milestones included:
- February 2021: Cybereason hired several executives as part of its efforts to grow its channel partnerships.
- April 2021: The company unveiled a North American MSSP partner program that blends managed detection and response (MDR), threat hunting, endpoint protection and more.
- July 2021: Cybereason unveiled The Cyber Defenders League global partner program for MSSPs, resellers and other technology providers.
- January 2022: The company unveiled a Pay as You Grow option for MSPs and MSSPs.
9. Cybereason Ticker Symbol: Keep checking back for potential details.
10. Ongoing Cybereason Business, Partner Program and IPO Updates: We'll update this blog as more IPO details surface. Also, track all Cybereason news here.