Israeli-founded, California-based cybersecurity firm Exabeam announced this month that it has raised $50 million in a Series D funding round led by US venture capital firm Lightspeed Venture Partners. Other existing investors participating in the round include Aspect Ventures, Cisco Investments, and Israeli entrepreneur Shlomo Kramer.
Founded in 2013 by Israeli high-tech veterans, the company uses big data, machine learning, and analytics to for cyber threat detection and response. The company has a security information and event management (SIEM) platform that analyzes data sources of companies to distinguish between normal behavior and risk.
“The new funding will allow us to invest heavily in our new cloud solutions and reach even more enterprises around the world,” said Exabeam CEO Nir Polak.
“We are on track to overtake Splunk and be the next SIEM market leader,” he added in reference to the US multinational corporation producing software for searching, monitoring, and analyzing machine-generated big data.