|By Business Wire||
|June 10, 2014 09:13 AM EDT||
Exabeam, a big data security analytics company that is unlocking the potential of existing logs to fundamentally change the way cyberattacks are detected, has raised $10 million in a series A funding round. The investment is led by Silicon Valley venture capital firm Norwest Venture Partners, and includes additional funds from Aspect Ventures and Angel Investor Shlomo Kramer. Exabeam will use this investment to support its go-to-market strategy and continue developing its solution, which will simplify security operations and arm IT teams with the information needed to win the war against today’s sophisticated hackers.
Exabeam’s founding team consists of seasoned security and enterprise IT veterans from leading companies, including CEO Nir Polak and Vice President of Products Sylvain Gil, both formerly with Imperva, and Chief Technology Officer Domingo Mihovilovic, formerly with Sumo Logic. Exabeam’s approach complements existing security information and event management (SIEM) and log management systems, so there is no need to rebuild monitoring infrastructure. Its groundbreaking, machine-learning technology focuses on attacker behavior rather than ever changing malware and tools to effectively detect modern cyberattacks without the need to hire an army of security-savvy data scientists.
“Exabeam is addressing a long-awaited market need by harnessing big data to address security threats beyond initial intrusion. With modern technology at its core and a team built of security powerhouses, Exabeam is poised to disrupt the security analytics scene,” said Managing Partner Matthew Howard of Norwest Venture Partners, a venture capital and growth equity firm with a successful track record of security industry investments, such as FireEye, MobileIron, 41st Parameter and Shape Security.
Theresia Gouw, co-founder of Aspect Ventures, said, “This founding team has the experience, expertise and drive to make Exabeam a success by simplifying security solutions for IT teams fighting cyberattacks." Exabeam is Aspect Ventures first enterprise Series A investment. Gouw's other security investments include Imperva, ForeScout, TRUSTe and Webroot.
Howard and Gouw will join Exabeam’s board of directors, which includes founders Polak and Gil, as well as Angel Investor and CEO of Imperva Shlomo Kramer, who has a track record of founding, funding and growing successful security companies such as Check Point, Imperva, Palo Alto Networks and Trusteer.
Exabeam CEO Nir Polak said, “Organizations are losing the battle against cyberattacks, and the industry is in need of an effective approach to reverse the asymmetric advantage favoring hackers. Our investors have an impressive history of building transformative companies, and their confidence in Exabeam’s big data security analytics will help us solve the most persistent and important challenge in the security industry – stopping data breaches in their tracks.”
Exabeam is a big data security analytics company that is unlocking the potential of existing logs to fundamentally change the way cyberattacks are detected and greatly simplify security operations. The company’s groundbreaking, machine-learning technology focuses on attacker behavior rather than ever changing malware and tools to effectively detect modern cyberattacks without the need to hire an army of security savvy data scientists. Built by seasoned security and enterprise IT veterans from Imperva and Sumo Logic, Exabeam is headquartered in San Mateo, California and is privately funded by Norwest Venture Partners, Aspect Ventures and Investor Shlomo Kramer. Visit us on Facebook or Twitter and follow us on LinkedIn.
About Norwest Venture Partners
Norwest Venture Partners (NVP) is a global, multi-stage venture and growth equity investment firm that has partnered with entrepreneurs to build great businesses for more than 50 years. The firm manages approximately $5 billion in capital and has funded more than 550 companies since inception. Headquartered in Palo Alto, Calif., NVP has subsidiaries in Mumbai and Bengaluru, India, and Herzelia, Israel. NVP makes early to late-stage venture and growth equity investments across a wide range of sectors including: technology, information services, business services, financial services, consumer products/services and healthcare. For more information visit: www.nvp.com. Follow NVP on Twitter @NorwestVP.
About Aspect Ventures
Aspect Ventures works with entrepreneurs in the emerging mobile marketplace, making Seed and Series A investments in Mobile, Consumer Internet, Enterprise, SaaS and Healthcare IT. We approach the growth and building of companies from every aspect. With a long industry perspective across over 80 Seed and Series A investments, we work alongside great entrepreneurs – as active advisors, board members and partners – through every point on their success curve. For more information, please visit www.aspectventures.com. Follow Aspect Ventures @AspectVC.
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