Exabeam Buys Cloud Security Startup SkyFormation, Opens New Israel Office

By Miranda DiPaolo, NoCamels July 03, 2019 < 1 minute

Illustrative photo of cloud technology. Deposit Photos

US smart security information and event management (SIEM) company Exabeam has acquired Israeli cloud security startup SkyFormation, the California-based company announced Tuesday.

The acquisition, Exabeam’s first, will allow the cybersecurity firm to establish an office in Israel, provide access to local talent, and help more companies move their businesses and security to the cloud, Exabeam said in a statement.

The acquisition follows a recent $75 million Series E funding round which gives the US firm the opportunity to expand globally.

Founded by Asaf Barkan, CEO, Uri Ben-dor, CTO, and Nadav Levy, principal engineer in 2014, SkyFormation allows organizations to collect logs from over 30 cloud services into various SIEM tools including Exabeam Advanced Analytics and Exabeam Data Lake.

Logs can be collected from AWS, GitHub, Google, Microsoft Office 365, Salesforce and many other security, identity and access management, infrastructure and business applications.

Exabeam aims to disrupt the SIEM market by replacing legacy SIE systems, which operate through monitored devices such as computers and firewalls, with cloud-based systems, the US company said. With these cloud-based systems, companies can use behavioral analytics to respond to attacks without inf

The announcement follows the launch of Exabeam SaaS Cloud, the company’s cloud-based SIEM platform allowing customers to detect and respond to cyber attacks more efficiently “without the infrastructure cost and maintenance issues inherent” in legacy systems, the company said.

“We are very excited to welcome the entire SkyFormation team and its partners to Exabeam,” Exabeam CEO and co-founder Nir Polak said “Exabeam customers have long been able to use the SkyFormation platform as part of our solution, but this acquisition means other organizations will now be able to augment their SIEM with Cloud Connectors to modernize their security operations. I look forward to growing our new Israel office.”