Exabeam raises $75 Million for smarter SIEM

Exabeam, a start-up based in San Mateo, California, closed $75 million in Series E funding for its next-gen Security Information and Event Management (SIEM) solutions.

Exabeam claims that over the past year 76 percent of its replacement deals eliminated legacy vendors, including IBM, McAfee, RSA, LogRhythm, Micro Focus and Splunk. In addition, Exabeam has a 72 percent win rate in replacement deals against these incumbents. Technology and services giant NTT DATA is just one example of a global deployment where Exabeam displaced multiple legacy SIEMs and the company standardized on Exabeam going forward.

“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, Exabeam CEO.

The latest round was jointly led by new investor Sapphire Ventures and Lightspeed Venture Partners, with participation from other existing investors.

https://www.exabeam.com

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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.”

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