Founded by Israeli hi tech veterans, California’s Exabeam may put an end to hacking as we know it.
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Security software startup Exabeam announced that it has acquired $10 million in a Series A round of fundraising. Exabeam develops software which it claims can fundamentally change the way cyberattacks are detected and defended against by businesses.
The funding was led by Norwest Venture Partners and includes Aspect Ventures and a current investor in the company Shlomo Kramer who is the founder and chief executive of the data center security company Imperva Inc.
The $10 million will be dedicated to the company’s expanding engineering team which is completing the finished product due out later in the year.
NVP Managing Partner Matthew Howard and Aspect co-founder Theresia Gouw will now join Mr. Kramer on Exabeam’s board as part of their funding deal.
Howard stated, “Exabeam is addressing a long-awaited market need by harnessing big data to address security threats beyond initial intrusion. With modern technology at its core and a team built of security powerhouses, Exabeam is poised to disrupt the security analytics scene.”
Another Imperva veteran who spent a decade at the company is the Exabeam Chief Executive Officer Nir Polak. According to Polak, it was while he was at Imperva that he realized the same techniques used to steal identities and bank accounts are also used as part of today’s most sophisticated malware, known as Advanced Persistent Threats.
These threats penetrate and then impersonate people inside a company and data required to detect such attacks already exists in the computer logs.
The company’s Vice President of Products Sylvain Gil also came from Imperva.
Polak said of these attacks that, “it’s not something we ask questions about today. Today, you need to know what to look for.”
“Organizations are losing the battle against cyberattacks, ” Polak added, “and the industry is in need of an effective approach to reverse the asymmetric advantage favoring hackers. Our investors have an impressive history of building transformative companies, and their confidence in Exabeam’s big data security analytics will help us solve the most persistent and important challenge in the security industry – stopping data breaches in their tracks.”
Exabeam’s software can find the trail left behind by hackers, compile it and use it to nullify any threats tom a company’s security.
Exabeam’s approach complements existing security information and event management (SIEM) and log management systems, so companies will not be required to invest in entirely new IT infrastructures. Its machine-learning technology focuses on the actions of a cyberattacker rather than the malware itself which is always being upgraded.
Not is Exabeam’s system able to read the computer logs in a way that can detect hackers, says Polak, but it can also prioritize the threats by their level of danger.
Founded in 2013 by security and enterprise information technology veterans from Imperva and Sumo Logic, including its current CEO Nir Polak, Exabeam is headquartered in San Mateo, California. It is a privately held company backed by security luminary Shlomo Kramer, who has a track record of founding, funding and growing successful security companies such as Check Point, Imperva, Palo Alto Networks and Trusteer.
Nir Polak is an Israeli who holds a BA in Computer Science from the Interdisciplinary Center in Herzalia, Israel.
Shlomo Kramer, 48, is an Israeli investor and the Co-Founder, President, and CEO of Imperva. In 2006, he was selected by Network World magazine as one of 20 luminaries who changed the network industry.