Next-gen security information and event management company Exabeam closed $50 million in Series D funding. The round, backed entirely by existing investors, was led by Lightspeed Venture Partners and supported by Aspect Ventures, Cisco Investments, Icon Ventures, Norwest Venture Partners, and cybersecurity investor Shlomo Kramer.
Claiming 250 percent market growth in 2017, coming off 300 percent growth in 2016, the company says it is on track to double its market size in 2018. Exabeam’s Security Intelligence Platform was named the 2018 Gartner Peer Insights Customers’ Choice for its SIEM software, and recently won an SC Awards Europe 2018 for Best SIEM for its threat identification and response capabilities. Its flat, predictable pricing model allows organizations to store all their logs, unlike the “by-the-byte” pricing model that can force customers to limit the amount of data covered by the SIEM—creating blind spots that sacrifice their organizations’ security.
The company plans to use the funds to grow its cloud portfolio, as well as sales and channels to expedite global expansion.