Exabeam Gets $200 Million in New Funding, Forescout Vet as New President, CEO

Exabeam is starting the new month with $200 million in new funding, and Forescout vet Michael DeCesare as its new president and CEO.

The Series F growth round was led by the Owl Rock division of Blue Owl Capital. Existing investors Acrew Capital, Lightspeed Venture Partners and Norwest Venture Partners also supported it.

Exabeam’s Michael DeCesare

DeCesare was president of McAfee, and most recently CEO and president of Forescout, which went public in 2017 under his leadership.

Nir Polak, Exabeam‘s co-founder and first CEO, will continue as an active member of the executive team. Additionally, Polak will assume the role of chairman of the board.

Driving Next Phase of Growth

“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,” DeCesare said. “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. [This is] a true game changer for security teams. Nir has built an incredibly robust, diverse and inclusive culture at Exabeam. And I am committed to helping it flourish.”

In addition, Adam Geller, Exabeam‘s chief product officer, will now lead both the product and engineering organizations. Geller was previously a senior vice president of cloud security at Palo Alto Networks before joining Exabeam in 2020.

Polak said the funding round gives Exabeam the capital required to “continue executing on our vision to deliver the No. 1 trusted cloud SecOps platform on the market.”

“It gives us the opportunity to triple down on our R&D efforts and continue engineering the most advanced UEBA, XDR and SIEM cloud security products available today,” he said. “Now with Mike at the helm and Adam’s leadership over product and engineering, we have assembled a seasoned executive team ready to scale and take our business to the next level.”

Exabeam Partner Program

Over the last 12 months, Exabeam has significantly invested in the Exabeam Partner Program. It now includes more than 400 reseller, distributor, system integrator, MSSP, MDR and consulting partners globally. In addition, the company now has over 500 technology integrations with leading IT and security companies. Those include cloud network, data lake and endpoint vendors such as CrowdStrike, Okta and Snowflake.

Pravin Vazirani is Blue Owl Capital’s managing director and co-head of tech investing.

“Exabeam is poised to be the next-gen leader in the cloud security analytics, XDR and SIEM markets,” he said. “We led this round of funding to provide the company with the resources necessary to support its sustainable, long-term growth and value creation. In today’s operating environment, cybersecurity is increasingly recognized as a mission-critical function across industries.”