Exabeam, the smarter SIEM company, announces that it has closed $75 million in Series E funding to accelerate worldwide efforts to displace legacy security management vendors. The latest round is jointly led by new investor Sapphire Ventures and Lightspeed Venture Partners, which have collectively backed nearly 40 IPOs. Other existing investors also participated. The funds will be used for expanding sales reach and to expedite new product features and configurations.

In the last 12 months, Exabeam’s market perception has shifted from a user and entity behaviour analytics (UEBA) vendor to a leading SIEM provider. Recognising this, Exabeam was recently named a leader in the 2018 Gartner Magic Quadrant for Security Information and Event Management.

Unique data sources

Exabeam has a 72 percent win rate in replacement deals against incumbents

During the last fiscal year, 76 percent of the company’s 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 standardised on Exabeam going forward.

Since its $50 million Series D funding round in August 2018, Exabeam has also seen increased sales of its cloud offerings, on the heels of the release of Exabeam SaaS Cloud, which was launched and purchased by its first customer within the first quarter of this year. The company also expanded its sales team and Technology Alliance Partnership Program, which has already attracted more than 350 software and services vendors, representing integrations with nearly 2,500 unique data sources and APIs.

Collective guidance

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.

Both Lightspeed and Sapphire have an incredible combined track record of spotting up-and-comers"

He added, “Having recently backed groundbreaking public companies like Box, DocuSign, MuleSoft, Nutanix and Square, both Lightspeed and Sapphire have an incredible combined track record of spotting up-and-comers that will ultimately dominate their markets. Their collective guidance and support will only further our mission to keep our customers out of the breach headlines and take over the SIEM market along the way.”

Streamlined threat detection

Alongside the influx of big data driven by cloud applications and mobile devices, as well as increasingly sophisticated insider and external threats, Exabeam is scaling to meet the needs of the largest organisations globally. As a next generation security player founded in 2013, the company continues to disrupt the SIEM market with its flat, user-based pricing model and streamlined threat detection and machine learning-powered behavioural analytics—helping security operations centre (SOC) analysts work smarter.

We’ve chosen to back Exabeam because of the momentum the company has in a very large and important market. Nir and the team are solving the problems that legacy SIEM vendors don’t seem to realise they have, and to us, that demonstrated unmistakable value. Customers are consistently buying its full platform as a replacement for the offerings that once dominated the market to improve their security posture and conquer the hurdles of outdated technology and expensive, data-based pricing,” said Anders Ranum, managing director at Sapphire Ventures.

Endpoint protection vendors

Lightspeed is excited to double down on our investment in Exabeam"

As cyberattacks, cyberwarfare and corporate espionage are on the rise, Exabeam is enabling companies to analyse user behaviour and spot even the most subtle anomalies in a way no other SIEM vendor has. They’re in an ideal position to be the next big security disruptor, and we’re excited to be joining in their journey.”

Lightspeed is excited to double down on our investment in Exabeam,” said Ravi Mhatre, partner at Lightspeed Venture Partners. “Looking broadly at the security market in recent years, there have been several big exits from companies replacing legacy authentication and endpoint protection vendors. Security management is next, and Exabeam is well positioned to be the leader.”

Exabeam has recently been named to Business Insider’s 30 Cybersecurity Startups that Will Blow up in 2019 and Silicon Valley Business Journal’s Best Places to Work in the Bay Area lists. It has also ranked No. 12 overall and No. 1 in security on Inc. Magazine’s 37th annual Inc. 5000, as well as No. 8 on the Wall Street Journal’s Tech Companies to Watch in 2018.

Share with LinkedIn Share with Twitter Share with Facebook Share with Facebook
Download PDF version Download PDF version

In case you missed it

How smart technology is simplifying safety and security in retirement villages
How smart technology is simplifying safety and security in retirement villages

James Twigg is the Managing Director of Total Integrated Solutions (TIS), an independent life safety, security and communication systems integrator, specialising in design & consultancy, technology and regulatory compliance. Total Integrated Solutions work primarily with retirement villages, helping to ensure the safety of residents in numerous retirement villages across the country. In this opinion piece, James shares how smart technology is helping security teams and care staff alike in ensuring the safety and security of their spaces, amid the COVID-19 pandemic and beyond. Impact of smart technology Smart technology is having an impact on pretty much every aspect of our lives Smart technology is having an impact on pretty much every aspect of our lives. From how we travel, to how we work, to how we run our homes. It’s not unusual to have Alexa waking us up and ordering our groceries or Nest to be regulating the temperature and energy in our homes. And while there’s a popular misconception that people in their later years are allergic to technology, retirement villages and care homes are experiencing significant innovation too. And the result is not only improved quality of life for residents, but also improved safety and security systems for management teams. Switching to converged IP systems I’ve been working in the life safety and security industry for over fifteen years. When I first joined TIS, much of the sector was still very analogue, in terms of the technology being installed and maintained. Slowly but surely, we’ve been consulting and advising customers on how to design, install and maintain converged IP systems that all talk to each other and work in tandem. I'm excited to say retirement villages are some of the top spaces leading the way, in terms of technological advancement. Improving the quality of life for residents A move into a retirement village can be daunting and one of the key concerns that we hear about is the loss of independence. No one wants to feel like they are being monitored or to have someone constantly hovering over them. One of the ways we’ve used smart technology to maintain residents' independence is through devices, such as health monitors and motion sensors. For example, instead of having a member of staff check-in on residents every morning, to ensure they are well, sensors and analytics can automatically detect changes in routine and alert staff to possible problems. Similarly, wearable tech, such as smart watches give residents a chance to let staff know they are okay, without having to tell them face-to-face. As our retirement village customers have told us, a simple ‘I’m okay’ command can be the difference between someone feeling independent versus someone feeling monitored. Simplifying and improving security systems Smart technology gives care staff and security oversight of the needs of residents For the teams responsible for the safety of the people, places and spaces within retirement villages, smart technology is helping to improve and simplify their jobs. Smart technology gives care staff and security oversight of the needs of residents, and ensures rapid response if notified by an emergency alert, ensuring they know the exact location of the resident in need. And without the need to go and physically check-in on every resident, staff and management can ensure staff time is being used effectively. Resources can be distributed where they are needed to ensure the safety and wellbeing of those residents who need extra consideration. 24/7 surveillance When planning the safety and security for retirement villages, and other residential spaces, it’s no use having traditional systems that only work effectively for 12 hours a day or need to update during the evening. Surveillance needs to be 24/7 and smart technology allows that without the physical intrusion into people’s spaces and daily lives. Smart technology ensures that systems speak to each other and are easily and effectively managed on one integrated system. This includes video surveillance, which has also become much more effective as a result of advanced video analytics, which automatically warn staff of suspicious behaviour. Securing spaces amid COVID-19 This year has, of course, brought new challenges for safety. COVID-19 hit the retirement and residential care sectors hard, first with the initial wave of infections in mid-2020 and then, with the subsequent loneliness caused by the necessary separation of families. As essential workers, we worked closely with our customers to make sure they had everything they needed As essential workers, we worked closely with our customers to make sure they had everything they needed during this time, equipping residents with tablet devices to ensure they could stay connected with their families and friends. It allowed residents to keep in touch without risking transferring the virus. Thermal cameras and mask detection And now that we’re emerging out of COVID-19 restrictions and most residents can see their families again, we’re installing systems like thermal cameras and mask detection, so as to ensure that security will be alerted to anyone in the space experiencing a high temperature or not wearing proper PPE. Such steps give staff and families alike, the peace-of-mind that operational teams will be alerted at the earliest possible moment, should a COVID-19 risk appear. Thinking ahead to the next fifteen years, I’m excited at the prospect of further technological advancements in this space. Because at the end of the day, it’s not about how complex your security system is or how you compete in the industry. It’s about helping teams to protect the people, spaces and places that matter. I see smart technology playing a huge role in that for years to come.

ASSA ABLOY’s Code Handle protects Fylab physiotherapy practice with secure PIN-operated handles
ASSA ABLOY’s Code Handle protects Fylab physiotherapy practice with secure PIN-operated handles

In all medical settings, people are coming and going all day. Therapists leave their personal belongings in changing rooms, patients want privacy in consulting rooms, open or unlocked doors can be an invitation to opportunists. Yet keeping track of mechanical keys can be a tiresome task for a small practice. There is a solution: the Code Handle PIN lock from ASSA ABLOY. In Irun, in Spain’s Basque country, Fylab sought easy electronic door security for their consulting rooms. These rooms house expensive specialist equipment for the various therapeutic disciplines offered by Fylab. Requirements were straightforward: a simple, secure, keyless access solution designed to work in a facility that gets a lot of daily traffic from professionals and the public. They needed a locking device that is easy to retrofit and incorporates a contemporary device design to match with Fylab’s modern medical workplace. Adding electronic security to room doors The Code Handle PIN-locking door handle added electronic security to three consulting-room doors at FylabThe Code Handle PIN-locking door handle added electronic security to three consulting-room doors at Fylab – without wires or cables. Two screws fit a Code Handle to almost any interior door (between 35mm to 80mm thick). One doesn’t even need to change their existing door cylinder. “I am no artist or handyman, but I managed to fit the handles within 10 minutes,” says Fylab founder, Borja Saldias Retegui. Code Handle adds electronic security to almost any interior door without disrupting its aesthetics. If one needs to secure a door facing a public space, Code Handle does it subtly and with zero hassle. At Fylab, Code Handle devices locks both wooden and glass doors, keeping equipment and therapists’ personal belongings safe. Allows up to 9 different PIN numbers “We like the solution a lot because we can do away with keys,” adds Borja. Code Handle removes the need to track cumbersome keys or install expensive access control. Because every Code Handle allows up to 9 different PIN numbers (4 to 6 digits), all authorised staff at Fylab can have their own security code. Two standard batteries (CR2) slot inside the handle, typically lasting 30,000 lock/unlock cycles before replacement The practice manager cancels or amends PINs at any time using the master PIN. Two standard batteries (CR2) slot inside the handle, typically lasting 30,000 lock/unlock cycles before replacement. It’s simple. “Code Handle is unique in comparison to common code door locks: it has the code function and battery incorporated inside its handle, so you don’t need to make extra modifications to your door,” explains Lars Angelin, Business Development Manager for Code Handle at ASSA ABLOY EMEA. Auto-locking feature of Code Handle Auto-locking is another helpful feature. When the door closes, Code Handle locks it automatically. One doesn’t need to put down whatever they are carrying, and no one can open it from the outside while they are not looking. To keep the door open briefly, one can simply hold Code Handle down for 5 seconds and it remains temporarily unlocked. For convenience, Code Handle always opens freely from the inside. “Code Handle provides the simplest solution for access control in a small facility,” says Borja. To learn more about Code Handle please visit: https://campaigns.assaabloyopeningsolutions.eu/codehandle

What are the challenges and benefits of mobile access control?
What are the challenges and benefits of mobile access control?

There is a broad appeal to the idea of using a smartphone or wearable device as a credential for physical access control systems. Smartphones already perform a range of tasks that extend beyond making a phone call. Shouldn’t opening the door at a workplace be among them? It’s a simple idea, but there are obstacles for the industry to get there from here. We asked this week’s Expert Panel Roundtable: What are the challenges and benefits of mobile access control solutions?