Exabeam Raises $200M to Accelerate Security Operations Growth

Exabeam Secures $200 Million in Funding, Reaches $2.4 Billion Valuation

Exabeam, a company specializing in the detection of sophisticated cybersecurity threats, has successfully obtained $200 million in a new funding round.

This investment elevates the company’s valuation to $2.4 billion.

Series F Funding Details

The Series F growth round was spearheaded by Blue Owl Capital’s Owl Rock division.

Significant participation also came from existing investors, including Acrew Capital, Lightspeed Venture Partners, and Norwest Venture Partners.

Leadership Transition

Concurrent with the funding announcement, Exabeam revealed a change in leadership.

Nir Polak, the co-founder and current CEO of Exabeam (established in 2013), will be succeeded by Michael DeCesare, formerly the chief executive of ForeScout.

Michael DeCesare’s Background

DeCesare brings over 25 years of experience in leading rapidly expanding security firms to his new role.

Prior to joining Exabeam, he served as CEO and president of ForeScout, beginning in February 2015.

Before ForeScout, he held the position of president at McAfee for four years while it was under Intel’s ownership.

Under his direction, ForeScout completed a successful initial public offering (IPO), raising approximately $117 million and achieving an $800 million valuation.

Polak’s Future Role

Polak will transition to the role of chairman at Exabeam.

He will remain an active member of the executive team and continue contributing to the company’s direction.

DeCesare’s Vision for Exabeam

“Nir has cultivated a remarkably strong, diverse, and inclusive culture at Exabeam, and I am dedicated to its continued success,” stated DeCesare.

He expressed enthusiasm about collaborating with Polak and the leadership team to propel the company into its next growth phase.

Funding Allocation and Company Goals

Exabeam, having now raised a total of $390 million across six funding rounds, intends to utilize the new capital to accelerate growth, foster innovation, and solidify its market leadership.

Polak commented that the funding will enable a significant increase in R&D efforts, focusing on the development of advanced UEBA, XDR, and SIEM cloud security solutions.

Expanding Partnerships and Integrations

The company has substantially invested in its partner ecosystem over the past year.

This network now encompasses over 400 partners, including resellers, distributors, systems integrators, MSSPs, MDRs, and consulting firms worldwide.

Exabeam also boasts more than 500 technology integrations with leading cloud network, data lake, and endpoint vendors, such as CrowdStrike, Okta, and Snowflake.

Addressing Evolving Security Challenges

Exabeam believes its outcome-based security approach is well-suited to assist organizations in managing increasing data volumes and navigating the complexities of hybrid work environments.

The company notes a growing trend of cyberattacks targeting employees returning to the office, a threat expected to escalate as more companies reduce remote work options.

Blue Owl Capital’s Perspective

“Exabeam is well-positioned to become a leading force in cloud security analytics, XDR, and SIEM markets,” said Pravin Vazirani, Managing Director and Co-Head of Tech Investing at Blue Owl Capital.

He affirmed that the funding was provided to support the company’s sustainable growth and long-term value creation.