Exabeam, a US-based cybersecurity software developer which counts networking technology provider Cisco as an investor, collected $200m in series F funding yesterday at a $2.4bn valuation.
Alternative asset manager Blue Owl Capital led the round through its Owl Rock subsidiary and was joined by Acrew Capital, Lightspeed Venture Partners and Norwest Venture Partners (NVP).
Founded in 2013, Exabeam has developed cloud-based, cybersecurity software tools used to detect and address cyber threats. Its offering includes software for user and entity behaviour analytics, extended detection and response, and security information and event management.
The company also disclosed it has appointed cybersecurity veteran Michael DeCesare as CEO and president to replace co-founder and CEO Nir Polak who will become chairman. The series F financing will allow Exabeam to “triple down” on its research and development efforts, Polak said.
Exabeam has raised at least $390m of funding to date, having closed a $75m series E round in mid-2019 co-led by Sapphire Ventures and Lightspeed Venture Partners that also featured unnamed existing backers.
Cisco’s corporate venture capital unit, Cisco Investments, participated in a $50m series D round for the company in 2018 that was led by Lightspeed Venture Partners and backed by Shlomo Kramer, NVP, Aspect Ventures and Icon Ventures.
The same investors had taken part in Exabeam’s $30m series C round in 2017. It had picked up $25m in a 2015 series B round led by Icon Ventures and backed by NVP, Aspect Ventures and Kramer, after NVP led a $10m series A round in 2014 that also featured Aspect Ventures and Kramer.