Exabeam secures $200 Million at $2.4 Billion Valuation

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The company also announced a new CEO and President, Michael DeCesare

Exabeam this week announced a $200 million Series F growth round at a valuation of $2.4 billion. The round is led by the Owl Rock division of Blue Owl Capital. It is supported by existing investors Acrew Capital, Lightspeed Venture Partners and Norwest Venture Partners. Exabeam also welcomes cybersecurity industry leader Michael DeCesare as CEO and president.

The company’s co-founder and first CEO, Nir Polak, will continue on as an active member of the executive team. He will assume the role of chairman of the board. “Innovation is in our DNA,” said DeCesare. “We are reimagining the threat detection, investigation and response (TDIR) problem with an XDR offering automation and use case-specific content.” This will help security analysts quickly defend against threats, he added.

“This funding round gives us the operating capital required to continue executing on our vision to deliver the number one trusted cloud SecOps platform on the market,” said Polak. “It gives us the opportunity to triple down on our R&D efforts and continue engineering the most advanced UEBA, XDR and SIEM cloud security products available today.”

An “outcome-based approach” to help companies recover from COVID

According to Exabeam, their outcome-based approach to security around external threats is perfectly suited to support organizations as they return to the post-pandemic workplace in a variety of hybrid scenarios. The company recently launched its new Fusion product line with Fusion XDR and Fusion SIEM.

With 70 percent of new business in 2020 delivered through Exabeam cloud-based analytics and automation, adding XDR puts a new name on what Exabeam already provides to customers. Over the last 12 months, Exabeam has also made significant investments in the Exabeam Partner Program. This now includes more than 400 reseller, distributor, system integrator, MSSP, MDR and consulting partners globally.

In addition, the company now has over 500 technology integrations with leading IT and security companies. These include cloud network, data lake and endpoint vendors such as CrowdStrike, Okta and Snowflake.