05 Feb Exabeam Closes 2017 with Record Growth, Sales up over 250% with Worldwide Deployment Topping 200 Customers
SAN MATEO, Calif., Jan. 30, 2018 (GLOBE NEWSWIRE) — Exabeam, the leader in security intelligence solutions, concluded a record year in 2017, in both revenue and active enterprise customers. This growth far exceeded the annual growth rate of the SIEM market, which is projected to reach $3.4B by 2021.
(Read on Business Insider)
Billings for the year grew 250 percent compared to 2016. The number of enterprise customers using Exabeam’s technology to power their security programs also increased to over 200. Additional highlights include:
–Closed more business in the fourth quarter of 2017 than in all of 2016
–A fivefold increase in transactions over $1 million
–Seven channel partners sold over $1 million in Exabeam products, and one partner topped $10 million in sales
Powering this growth was Exabeam’s transition from providing a UEBA solution to a full SIEM platform, and high marks from industry analysts. The company debuted in the 2017 Gartner SIEM Magic Quadrant as a Visionary. Exabeam also received accolades from a number of publications, including the Computing Security Excellence Award for Security Event Management, SC Media 2017 Excellence Award Winner for Best Emerging Technology, CRN 2017 Emerging Vendor, Cyber Defence Magazine 2017 Cyber Security Leader, among others.
“In 2017, Exabeam announced our entry into the SIEM market, with the goal of doing to SIEM what Palo Alto Networks did to firewalls — launching an initial tool to grow and learn in the market,” said Nir Polak, CEO of Exabeam, “That strategy led to an amazing year, and I fully expect 2018 to be even better.”
“Exabeam’s growth rate is at the very high-end for enterprise companies that we work with at Lightspeed. We’ve also tracked Exabeam’s growth against a number of public security companies and the top-line acceleration is well ahead of most other companies when they were at this stage” said Lightspeed Partner Ravi Mhatre, “Exabeam has moved extremely quickly to establish its leadership position in the market and holds all of the promise of becoming a standalone public company.”
In 2018, Exabeam’s crosshairs will remain pointed at legacy vendors in the SIEM space. The company plans to focus on tightening integrations within its platform, enhancing user experience, and an increasing emphasis on the cloud. Exabeam will also host its first user conference, Spotlight, in September at the Cosmopolitan in Las Vegas.
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 a data lake for 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, and investor Shlomo Kramer. Follow us on Facebook, Twitter, and LinkedIn.