Exabeam raises $50 million for SIEM

Exabeam, a start-up based in San Mateo, California, raised $50 million in Series D funding for its next-gen Security Information and Event Management (SIEM) solutions.

The funding round was led by Lightspeed Venture Partners and supported by existing investors Aspect Ventures, Cisco Investments, Icon Ventures, Norwest Venture Partners and cybersecurity investor Shlomo Kramer.

Exabeam cites 250 percent market growth in 2017, coming off 300 percent growth in 2016, for its Security Intelligence Platform (SIP), which is built on open source, big data technology, including Elasticsearch and Hadood. It enables unlimited secure data collection, indexing and search but without volume-based pricing.

“Our investors have an amazing track record of investing in companies that truly are disruptive and typically become category leaders,” said Exabeam CEO Nir Polak. “Their experience with high-growth companies like MuleSoft, Nutanix, Zscaler, ForeScout – is invaluable to us in the advice and guidance they pass along to our executive team. The new funding will allow us to invest heavily in our new cloud solutions and reach even more enterprises around the world. We are on track to overtake Splunk and be the next SIEM market leader.”