Cybereason’s $275 Million Crossover Financing

Cadwalader represented Cybereason, while Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Liberty in the transaction.

Cybereason ha secured $275 million in crossover financing led by Liberty Strategic Capital, with additional backing provided by Neuberger Berman and Softbank. 

Cybereason, the leader in operation-centric cyber attack protection, will use the proceeds to continue to fuel the company’s hypergrowth driven by strong market demand for its AI-powered Cybereason Defense Platform. This round follows $389 million in prior funding from Softbank Group, CRV, Spark Capital and Lockheed Martin.

In connection with Liberty’s investment in Cybereason, former U.S. Treasury Secretary Steven Mnuchin will join the Cybereason Board of Directors, and Liberty’s Senior Advisor General Joseph F. Dunford (Ret.), who served as the 19th Chairman of the Joint Chief of Staff (2015-2019), will join the Cybereason Advisory Board.

Liberty Strategic Capital is a Washington, DC-based private equity firm focused on strategic investments in technology, financial services and fintech, and new forms of content. The firm was founded in 2021 and is led by former Secretary of Treasury Steven T. Mnuchin. 

J.P. Morgan served as exclusive placement agent to Cybereason.

The Cadwalader team was led by partners Ira Schacter (Picture) and Joshua Apfelroth, along with Jodi Avergun, Joel Mitnick and Linda Swartz providing regulatory, antitrust and tax advice.

Involved fees earner: Joshua Apfelroth – Cadwalader Wickersham & Taft; Jodi Avergun – Cadwalader Wickersham & Taft; Joel Mitnick – Cadwalader Wickersham & Taft; Ira Schacter – Cadwalader Wickersham & Taft; Linda Swartz – Cadwalader Wickersham & Taft;

Law Firms: Cadwalader Wickersham & Taft;

Clients: Cybereason;

Martina Bellini

Author: Martina Bellini