Exabeam raises $200M to fuel scale, product innovation and extend leadership
Exabeam 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 and 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 and remain at the company. Additionally, Polak will assume the role of chairman of the board.
DeCesare has more than 25 years of experience leading high-growth security companies. He was president of McAfee, and most recently, DeCesare was CEO and president of ForeScout Technologies, which went public in 2017 under his leadership.
Cybersecurity startup Exabeam raises $200 million, valued at $2.4 billion
By Jane Lanhee Lee
Reuters
(Reuters) - Exabeam, a Silicon Valley startup that helps companies automate the analysis and monitoring of their cybersecurity data, on Tuesday said it raised $200 million in its latest round of funding which valued the company at $2.4 billion.
While venture capital investment in cybersecurity has been rising fast over the years, it got an extra boost during the pandemic as remote work created extra challenges.
According to data firm PitchBook, venture funding in cybersecurity hit a record $10.2 billion in 2020 and as of late May 2021 had already reached $8 billion. A bulk of the funding is happening with U.S. startups.
Exabeam has brought in former Forescout CEO Michael DeCesare to lead the company as the security analytics and automation vendor notched a $2.4 billion valuation.