Market Overview

Exabeam Raises $50 Million in Series D Funding to Disrupt SIEM Market

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Funding round led by Lightspeed Venture Partners; two years of
explosive growth at Exabeam highlights significant demand for
alternative to failing legacy SIEM solutions

Exabeam,
the next-gen security information and event management company, today
announced that it has 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. The funds will be used to grow the company's cloud portfolio, as
well as sales and channels to expedite global expansion.

The complexities in securing modern digital businesses, along with the
increase in sophistication of malicious threats and cybercrime, are
fueling growth in the security information and event management (SIEM)
market, which is expected to hit $4.54 billion in 2019.* Historically
dominated by a handful of providers, in recent years, the market has
shifted to platforms that can support the massive data volumes generated
by cloud applications and mobile device use.

Exabeam is carving out a growing piece of the market, with 250 percent
market growth in 2017, coming off 300 percent growth in 2016. The
company is on track to more than double its market size in 2018. Fueling
this success is the growing industry recognition for Exabeam's Security
Intelligence Platform
(SIP); it was named the 2018 Gartner Peer
Insights Customers' Choice for its SIEM software, and recently won an SC
Awards Europe 2018 for Best SIEM.

Customers are choosing Exabeam for its superior threat identification
and response capabilities compared to legacy SIEMs. Equally appealing is
its flat, predictable pricing model, which allows organizations to store
all of their logs, unlike the archaic "by-the-byte" pricing model that
forces budget-conscious customers to limit the amount of data covered by
the SIEM—creating blind spots that sacrifice the security of the entire
organization.

Exabeam's SIP delivers where legacy vendors have failed. Built on open
source, big data technology, including Elasticsearch and Hadoop, it
provides unlimited secure data collection, indexing and search but
without volume-based pricing. Advanced machine learning capabilities
provide rapid insights into all events, including attacks and
vulnerabilities so subtle and precise that humans simply cannot see
them. The comprehensive platform contains many other customizable
features spanning incident response and threat hunting, giving companies
the freedom to scale and select only the security management solutions
that fit their business needs.

"Exabeam is deliberately and systematically disrupting the enterprise
SIEM space. We're thrilled to partner with Nir and the team as the
company continues to scale," said Ravi Mhatre, partner at Lightspeed
Venture Partners. "After just five years in business, Exabeam is rapidly
gaining market share and winning deals 70 percent of the time when
pitted head-to-head with the incumbent. That simply cannot be ignored."

"As a longtime investor in the cybersecurity space, I've always been
excited about Exabeam's approach and potential to deliver the next
generation of security tech," said Theresia Gouw, co-founder of Aspect
Ventures, and a leading investor in cybersecurity. "It's clear from the
large increase in replacement wins with customers like ADP, Hulu,
Safeway, Union Bank that Exabeam is consistently delivering
industry-leading technology to the most demanding enterprises and
government organizations in the world."

"Our investors have an amazing track record of investing in companies
that truly are disruptive and typically become category leaders," said
Exabeam CEO Nir Polak. "Their experience with high-growth companies like
MuleSoft, Nutanix, Zscaler, ForeScout – is invaluable to us in the
advice and guidance they pass along to our executive team. The new
funding will allow us to invest heavily in our new cloud solutions and
reach even more enterprises around the world. We are on track to
overtake Splunk and be the next SIEM market leader."

For more information on Exabeam's SIEM platform, please visit https://www.exabeam.com/product/

About Exabeam

Exabeam provides security intelligence and management solutions to help
organizations of any size protect their most valuable information. The
Exabeam Security Intelligence Platform uniquely combines unlimited data
collection at a predictable price, machine learning for advanced
analytics and automated incident response into an integrated set of
products. The result is the first modern security intelligence solution
that delivers where legacy SIEM vendors have failed. Built by seasoned
security and enterprise IT veterans from Imperva, ArcSight and Sumo
Logic, Exabeam is headquartered in San Mateo, California. Exabeam is
privately funded by Norwest Venture Partners, Aspect Ventures, Icon
Ventures, Lightspeed Venture Partners, Cisco Investments and investor
Shlomo Kramer. Follow us on Facebook,
Twitter
and LinkedIn.

*According to MarketsandMarkets, "Security
Information and Event Management Market
 by Solutions (Log and
Event Management, Firewall Security Management, Patch Management,
Others) - Market Forecasts and Analysis (2014-2019),"
https://www.marketsandmarkets.com/PressReleases/security-information-event-management.asp

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