Security vendor Exabeam announced on Feb. 7 that it has secured a new $30 million Series C round of funding. Total funding to date for Exabeam now stands at $68 million.
The new round was led by led by Lightspeed Venture Partners and Cisco Investments and also included the participation of Norwest Venture Partners, Aspect Ventures, Icon Ventures, and Shlomo Kramer. Exabeam plans on using the new funding to continue to develop its market sharing in the growing User and Entity Behavior Analytics (UEBA) market.
"Exabeam's behavioral analytics is a powerful tool that helps companies prioritize and focus on the most damaging threats they face," Rob Salvagno, head of Cisco Investments and vice president of Cisco corporate development, said in a statement. "We're excited to become an investor in a company that shares our mission of reducing time to detection and helping customers respond to security threats more effectively."
Cisco itself has been expanding its security analytics capabilities with a new release of its Tetration platform earlier this month. Cisco isn't the only large IT vendor that has taken an interest in the UEBA space. Hewlett Packard Enterprise (HPE) acquired UEBA vendor Niara on Feb. 1. Back in July 2015, Spunk acquired UEBA vendor Caspida in a $190 million deal.
In a 2015 interview with eSecurityPlanet, Nir Polak, CEO of Exabeam, explained that the idea behind Exabeam is to use machine learning to help analysts in the rapid detection of risks.
On Jan. 31, Exabeam announced its new Security Intelligence Platform combining several security capabilities. The new platform include an open-source based log manager to collect an retain data that can then be used for further analysis. Going a step further, the platform also includes cloud connector to help organizations to get log data from Software-as-a-Service (SaaS) cloud applications.
The platform also includes Exabeam's Advanced Analytics, providing UEBA capabilities that are now complemented by a threat hunter capability giving security analysts the ability to more easily search through data looking for specific indicators of compromise.
Another piece of the new Exabeam Security Intelligence Platform is an incident responder component that provides playbooks to help organization deal with and respond to threats.
Sean Michael Kerner is a senior editor at eSecurityPlanet and InternetNews.com. Follow him on Twitter @TechJournalist.