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Exabeam, a cybersecurity startup, today announced a funding round of $30 million. The round was led by Lightspeed Venture Partners and Cisco Investments.
The San Mateo, Calif.-based startup developed a cybersecurity software that is deployed either on premises or in the cloud — it has customers running the software atop Amazon Web Services (AWS). The software works on three levels: collecting data, detecting attacks, and responding to them.
Exabeam initially launched its Advanced Analytics software in 2013, adding on Threat Hunter last year. Last week, the startup launched three new products: Log Manager, a data management system; Incident Responder, a cyberattack/breach support tool; and Cloud Connection, a data collection system for the cloud.
The three new products put Exabeam into a new competitive class as it goes up against major security information and event management (SIEM) providers like ArcSight, FireEye, IBM, and Splunk, a spokesperson told VentureBeat in an email.
The startup charges annually based on how many people use the software. It has approximately 100 paying customers and 75 ongoing pilots, the spokesperson wrote. Customers include ADP, Hulu, Safeway, and Union Bank.
Norwest Venture Partners, Aspect Ventures, Icon Ventures, and Shlomo Kramer participated in this round alongside Cisco and Lightspeed. Ravi Mhatre of Lightspeed will be joining the Exabeam board of directors. “As cyberattacks continue to grow, organizations need a solution for detecting and responding to them. Exabeam is well positioned to be the leader in the security intelligence market,” Mhatre said in a statement.
Founded in 2013, Exabeam has raised a total of $68 million to date and currently has 110 employees. The new funds will be used to hire more people and increase the startup’s marketing reach, the spokesperson wrote.
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