Security intelligence startup Exabeam raises $50M to grow its cloud portfolio
Security intelligence and management solutions startup Exabeam Inc. today said it has raised $50 million in new funding to grow the company’s cloud portfolio, as well as sales and channels to expedite global expansion.
The Series D round, its first capital injection since February 2017, was led by Lightspeed Venture Partners, with Aspect Ventures, Cisco Investments, Icon Ventures, Norwest Venture Partners and Shlomo Kramer also participating.
Founded in 2013, Exabeam provides security intelligence and management solutions that assist enterprises in protecting their valuable information. It does so through a “Security Intelligence Platform” that uses machine learning to deliver advanced analytics and automated incident responses.
Pitched as able to comb through “unlimited data collection at a predictable price,” the company’s big data security analytics allows information technology security teams to detect and respond to cyberattacks and insider threats in real time. The platform is said to unlock the potential of existing security information, event management and log management data repositories.
Exabeam has found a willing audience, growing by more than 250 percent in 2017 and is on track to more than double its size in 2018. Notable customers include Automatic Data Processing Inc. Hulu LLC, Safeway Inc. and MFG Union Bank N.A.
“Exabeam’s SIP delivers where legacy vendors have failed,” the company explained. “Built on open source, big data technology, including Elasticsearch and Hadoop, it provides unlimited secure data collection, indexing and search but without volume-based pricing. The comprehensive platform contains many other customizable features spanning incident response and threat hunting, giving companies the freedom to scale and select only the security management solutions that fit their business needs.”
Including the new round, Exabeam has raised $115 million to date.
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