US-based big data security analytics provider Exabeam closed a $25m series B round yesterday backed by Norwest Venture Partners, the venture capital firm managing funds on behalf of bank Wells Fargo.
The round was led by VC firm Icon Ventures and included Aspect Ventures as well as Shlomo Kramer, chairman of cybersecurity firm Imperva.
Exabeam’s software uses user behaviour analysis (UBA) technology to detect anomalies that point to imminent cyberattacks. The company, which was founded in 2013, will use the capital to accelerate growth and further develop its technology.
Norwest previously led Exabeam’s $10m series A round in June 2014, which also included Kramer and Aspect Ventures.
Nir Polak, Exabeam’s chief executive, said: “Both public agencies and private corporations are under non-stop attacks on their sensitive information. We read about new data breaches on a weekly basis.
“Most of these attacks occur using valid account credentials, and UBA is the only solution today that detects and improves response to these attacks.”