Cybereason confidentially filed with U.S. regulators for an initial public offering that could give the Boston-based security startup a valuation of more than $5 billion, Reuters reported Monday.
Reuters cited sources that say the cybersecurity company has finalized the underwriters for the IPO, which could kick off in the second half of 2022.
Cybereason develops artificial intelligence-based software and provides services to help organizations protect their systems from ransomware and malware attacks. In October, the company established a U.S. government arm to help agencies speed up detection of malicious operations.
Among Cybereason’s investors are SoftBank’s Vision Fund 2, Alphabet’s (Nasdaq: GOOGL) Google Cloud business, Liberty Strategic Capital, Lockheed Martin (NYSE: LMT), Spark Capital and CRV.
