Exabeam ropes in $75m in Series E Funding

BFSI News

Exabeam-ropes-in-75m-in-Series-E-Funding Exabeam ropes in $75m in Series E FundingExabeam, a San Mateo, California-based security information and event management (SIEM) platform, as per recent reports last week, has just closed a Series E funding round, raising $75 million in investment financing. The recent round was jointly led by new investors Sapphire Ventures, a Palo Alto, California-based venture capital firm, and Lightspeed Venture Partners, a Menlo Park, California-based venture capital firm, and was participated by Exabeam’s existing investors.

The California-based Exabeam, by utilizing the data science and machine learning tech enables companies to analyze user behavior and help them locate any anomalies, if they’re to be found, that might point to some malicious activity or hacking. Exabeam has been ranked first in the security category on the Inc. 5000.

The company’s prime focus is to replace the legendary legacy security providers in the security industries like IBM, McAfee, RSA, and more. Earlier this year, the company announced a cloud offering to protect cloud-based environments from threats.

According to Nir Polak, CEO, Exabeam, over the last two years, the company’s average deal size grew by 100 percent.

With this recent Series E funding, Exabeam has in total raised a sum of $190 million. On a side note, the company mentions that’s its two lead investors in this recent funding round – Sapphire Ventures & Lightspeed Venture Partners – have collectively backed nearly 40 IPOs.

“Over the last year, we’ve seen our strategic value increase, and our average deal size has grown by 100 percent from just two years ago. This is because we’re listening to our customers and delivering the innovative technologies they need, including, most recently, the ability to detect threats in the cloud. With the win rates we’re seeing and market opportunity in replacement business, we’re raising money to accelerate our go-to-market and enhance our products to bring additional innovation to modern SOC environments,” said Nir Polak, CEO, Exabeam.