Expel, a cybersecurity platform specializing in threat detection and response, announced today that it has raised $ 140.3 million in Series E, co-leaded by the independent growth fund Capital G under Alphabet. Capital G will lead the company’s $ 50 million Series D in 2020. The Paladin Capital Group, which participated in this joint lead, led Expel’s Series A in 2016. New investors Cisco Investments and March Capital, as well as existing investors Greycroft, Index Ventures and Scale Venture Partners also participated in the round.
Expel founders Yanek Korff, Dave Merkel and Justin Bajko. Image credit: Expel
Expel basically provides managed security services for cloud applications, infrastructure, networks, and endpoints, with its own analysts monitoring the company’s network at 24×7 and repairing defects if necessary. It also provides preemptive threat hunting services for on-premises and cloud environments. The company will build a system called “automation-forward” at the customer’s site, and respond early before the problem becomes apparent.
Expel CEO Dave Merkel said: “In the last two years, we have encountered unique problems that we did not anticipate, but in the meantime we have been able to expand our platform to accommodate an 82% increase in daily security events. During this time, the number of technical partners has doubled and the number of security investigations has more than doubled. However, the expansion of automation has improved the work efficiency of analysts by 260%, and the NPS rating is 80+. Was maintained. “
Image credit: Expel
The company’s customers include Delta Air Lines, DoorDash, Better.com, Esri, GreenSky, and CDW.
Gene Frantz, Capital G’s general partner and director of Expel, said: “Defending against new threats such as ransomware and phishing requires professional management and response. Today‘s companies are the best for that. More and more in need of more than MDR. Expel is at the forefront of this industry revolution to help customers, with the security community detecting and responding to threats in both on-premises and increasingly cloud environments. I’m trying to go on a complicated journey. “
Related article: Expel lands $ 50M Series D as security operations increase in importance
(Sentence: Frederic Lardinois, Translation: Hiroshi Iwatani)
Image Credits: Colin Hawkins / Getty Images