THANK YOU FOR SUBSCRIBING
The company will use proceeds from the investment round to grow its sales and marketing operations, further invest in its rapidly growing cloud security offerings, and explore international growth opportunities
Fremont, CA: Security Operations Center as a service company Expel secured USD 50 million in a Series D financing round led by CapitalG, Alphabet’s independent growth fund. The funding round was also participated by existing investors Battery Ventures, Greycroft, Index Ventures, Paladin Capital Group, and Scale Venture Partners. Gene Frantz, a general partner at CapitalG, will join Expel’s board of directors as part of the investment. The new funding round takes the company's total raised capital since inception to USD 117.5 million.
“As we set out to create Expel, we wanted to build something that would let security teams everywhere stop playing a game of alert whack-a-mole and focus on managing the risks unique to their business,” said Dave Merkel, CEO of Expel. “Now more than ever, CISOs deserve a security partner that not only helps them reduce their organization’s risk, but gives them more space to focus on other things.” The company will use proceeds from the investment round to grow its sales and marketing operations, further invest in its rapidly growing cloud security offerings, and explore international growth opportunities.
The company's "BYO tech" SOC-as-a-service approach gives customers 24x7 managed detection and response (MDR) for cloud, hybrid, and on-premises environments. Expel owns over 40 native integrations with the most commonly used endpoint, network, SIEM tools, cloud services, and SaaS applications, helping customers get more value out of the security tools that they already own. Expel connects to customer tech through APIs, not agents. This means customers can install and activate the service remotely in a matter of hours, to help internal teams can focus on the initiatives most important to their business.
"Enterprises are under threat from an inexhaustible supply of bad actors seeking to attack them. Companies respond by investing in new security products, which in turn, generate a mountain of alerts for their security teams to review. Most enterprises can't find enough cybersecurity talent to analyze every threat," said Gene Frantz, general partner at CapitalG. "Expel makes it both possible and incredibly simple for enterprises to manage their security needs. With Expel, companies can 'turn on' a world-class security operations center within a few hours."
See also: Top Cloud Consulting/Services Companies