ExtraHop, a leader in cloud-native network detection and response (NDR), today announced that it has secured $100 million in growth capital from existing investors in a transaction that is expected to close in early 2024, subject to customary closing conditions.
The news comes on the heels of ExtraHop’s strong year of performance as it ends 2023 with approximately $200 million in ARR – doubling over the last few years – and prestigious industry recognition for its innovative technology, including winning the 2023 Best AI-based Solution for CyberSecurity award. ExtraHop was also named a Leader in The Forrester Wave™: Network Analysis And Visibility, Q2 2023.
“ExtraHop is poised to be one of the next revolutionary businesses in this new era of cybersecurity, and this new infusion of capital will help the company build on its recent success and scale to new heights,” said Greg Clark, CEO, ExtraHop, and Managing Partner, Crosspoint Capital Partners. “ExtraHop is committed to building upon its heritage of developing groundbreaking technology to help customers better manage and mitigate their cyber risk. We believe this investment will further accelerate the company’s roadmap as it delivers essential tools to combat today’s modern threats.”
Delivering Industry-Leading Innovation
The Reveal(x) platform is unique in its ability to deliver the 360-degree visibility needed for organizations to automatically discover new, rogue, and unmanaged devices, detect late-stage attack activity using machine learning (ML)-based technology, and quickly remediate threats. ExtraHop recently open-sourced its 16 million row dataset to help defend against domains generated by algorithm (DGAs) and empower organizations to strengthen defenses against malware and botnet operations. ExtraHop also fortified its partnership with CrowdStrike by offering CrowdStrike Falcon Intelligence embedded within the Reveal(x) platform.
“NDR has been increasingly drawing attention from analysts, investors, and enterprises alike, proving to be a fundamental component of a successful cybersecurity stack,” said Chris Kissel, Research Vice President, Security and Trust, IDC. “As more organizations adopt zero trust and XDR strategies to build business resilience, it’s become evident that these critical cybersecurity measures are impossible to execute without NDR. 360-degree network visibility offers unmatched opportunities to reveal the cyber risks hiding in IT environments and keep operations running. The Reveal(x) platform from ExtraHop helps customers do just that, and the success ExtraHop has experienced to date further solidifies this notion.”
Also Read: Securing the Internet of Things (IoT) Devices
Welcoming Experienced Senior Leaders
Poised for another strong year of innovation and customer momentum, ExtraHop welcomed Marc Andrews as Chief Revenue Officer (CRO) and Kanaiya Vasani as Chief Product Officer (CPO) to support its next stage of growth in the NDR market.
Marc Andrews, CRO at ExtraHop, is a proven sales leader with an impressive background rooted in cybersecurity excellence. Andrews previously led global sales at cybersecurity leaders Symantec and Blue Coat Systems and brings to ExtraHop an exceptional track record of building successful go-to-market, alignment, and implementation strategies. As a Crosspoint Capital Operating Partner, Andrews has worked with the firm’s other portfolio companies to drive sustainable and profitable growth.
With more than 30 years of experience in networking and security, Kanaiya Vasani joins ExtraHop as CPO. Most recently, Vasani worked at Infoblox, where he led the company’s product team and significantly scaled Infoblox’s security business. He brings significant experience in defining and shaping corporate strategy and then executing through product development to drive customer success. Vasani previously held leadership positions at Juniper Networks and Terayon Communications.
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