Exabeam Secures $200M at $2.4B Valuation, Welcomes New CEO and President

June 1, 2021 — Exabeam, a security analytics and automation company, today 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 (NASDAQ: MCFE), and most recently, DeCesare was CEO and president of ForeScout Technologies (NASDAQ: FSCT), which went public in 2017 under his leadership.

In addition, Exabeam Chief Product Officer Adam Geller will now lead both the product and engineering organizations, ensuring even tighter integration and alignment. Geller was previously a senior vice president of cloud security at Palo Alto Networks (NYSE: PANW) before joining Exabeam in 2020.

“Exabeam defined the user entity and behavior analytics (UEBA) security technology category and is a leader in the security information and event management (SIEM) market. Innovation is in our DNA. We are reimagining the threat detection, investigation and response (TDIR) problem with an open extended detection and response (XDR), offering automation and use case-specific content so security analysts can quickly defend against threats, which is a true game changer for security teams,” said DeCesare. “Nir has built an incredibly robust, diverse and inclusive culture at Exabeam, and I am committed to helping it flourish. I’m thrilled to join Nir, Adam and the whole leadership team to help drive the company through its next phase of growth.”

Exabeam’s outcome-based approach to security around external threats, compromised insiders and malicious insiders is suited to support organizations as they manage exponential amounts of data and 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, which now includes more than 400 reseller, distributor, system integrator, MSSP, MDR and consulting partners globally. In addition, driven by its open XDR approach for security teams, the company now has over 500 technology integrations with leading IT and security companies including cloud network, data lake and endpoint vendors such as CrowdStrike, Okta and Snowflake.

According to Mordor Intelligence, the cloud security software market is valued at $29.5 billion in 2020 and is expected to reach a market value of $37.37 billion by 2026, registering a CAGR of 5.2 percent over the forecast period (2021-2026). Gartner predicts that the SIEM market, worldwide, is poised to grow from $4 billion to $6.3 billion during 2020-2024, progressing at a CAGR of 11.86 percent during the forecast period.

About Blue Owl

Blue Owl Capital is an alternative asset manager that provides investors access to direct lending and GP capital solutions strategies through a variety of vehicles. The firm’s breadth of offerings and permanent capital base enables it to offer a differentiated, holistic platform of capital solutions to participants throughout the private market ecosystem, including alternative asset managers and private middle market corporations. The firm had approximately $52.5 billion of assets under management as of March 31, 2021. Blue Owl’s management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. Blue Owl has approximately 250 employees across its Dyal Capital Partners and Owl Rock Capital divisions and has six offices globally. For more information, please visit us at www.blueowl.com.

About Exabeam

Exabeam is a global cybersecurity leader that adds intelligence to every IT and security stack. We are reinventing the way security teams use analytics and automation to solve threat detection, investigation, and response (TDIR), from common security threats to the most critical that are difficult to identify. The Exabeam Security Management platform is a comprehensive cloud-delivered solution that leverages machine learning and automation using a prescriptive, outcomes-based approach to TDIR. It is designed and built to help security teams detect external threats, compromised users and malicious adversaries, minimize false positives, and make security success the norm. For more information, visit www.exabeam.com.

Source: Exabeam