Canada-based cybersecurity services provider eSentire, which counts networking equipment manufacturer Cisco as an existing investor, collected $47m on Monday in a funding round led by private equity firm Warburg Pincus.
Growth equity firms Georgian Partners and Edison Partners also took part in the round, which increased the company’s total funding to approximately $87m.
Founded in 2001, eSentire provides a managed detection service (MDR) that uses machine learning and artificial intelligence (AI) technology to automatically detect and prevent attacks covering malware, insider threats, persistent threats, credential compromise, ransomware and phishing.
The company also provides customers with consultants who help them assess, improve and test their current risk profile.
Kerry Bailey, eSentire’s CEO, said: “Protecting the scale of information that is widely distributed across an organisation’s infrastructure, endpoint, customers and supply chain partners requires the continued innovation of MDR by applying AI technology with expert analysts.
“Today’s business leaders recognise the fiduciary responsibility of securing mission-critical information, and eSentire has been committed to this responsibility since creating MDR.”
Warburg Pincus had previously invested an undisclosed amount in eSentire in August 2017 in order to provide liquidity to existing shareholders and to fund the expansion of the company’s services, allowing existing backer Information Venture Partners (IVP) to exit in the process.
Edison Partners and Georgian Partners co-led a $19.5m round for eSentire in 2016 that also featured Cisco Investments, the corporate venturing subsidiary of Cisco, as well as Northleaf Ventures Catalyst Fund and IVP.
The company had previously raised $12.7m in series C funding from Cisco Investments, Georgian Partners, Edison Partners, VentureLink and Northleaf Venture Catalyst Fund in 2014, and $7m from Edison Ventures and VentureLink the year before.