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The security analytics and automation company – Exabeam 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 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.

Michael DeCesare has more than 25 years of experience leading high-growth security companies. He was President of McAfee, and most recently, DeCesare was CEO and President of ForeScout Technologies.

Security technology

Michael DeCesare said 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 Michael DeCesare.

Michael DeCesare said Nir has built an incredibly robust, diverse and inclusive culture at Exabeam, and also said he is 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,” said Michael DeCesare.

Product integration

Exabeam Chief Product Officer Adam Geller will now lead both the product and engineering organizations, ensuring even tighter integration and alignment as the company innovates and invests in creating the number one trusted cloud SecOps platform on the market.

The fund will be used as the operating capital required to continue executing the company’s vision to deliver the number one trusted cloud SecOps platform on the market. The company is also planning to triple down the R&D efforts and continue engineering the most advanced UEBA, XDR and SIEM cloud security products available today.

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.

Value creation

Blue Owl Capital Managing Director and co-head of tech investing Pravin Vazirani said Exabeam is poised to be the next-gen leader in the cloud security analytics, XDR and SIEM markets.

“We led this round of funding to provide the company with the resources necessary to support its sustainable, long-term growth and value creation,” said Pravin Vazirani.

In today’s operating environment, Pravin Vazirani said cybersecurity is increasingly recognized as a mission-critical function across industries, and the company is proud to partner with Michael, Nir and the Exabeam team as they seize the opportunity ahead of them, continue to innovate and enable their clients to stay at the forefront in terms of identifying and addressing threats across their technology platforms.

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