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Investment by Georgian and CDPQ will support geographic expansion, scaling operations to meet increasing enterprise demand, and growth of eSentire’s Atlas XDR SaaS offering
Waterloo, ON, Feb 22, 2022 – eSentire, Inc., the Authority in Managed Detection and Response (MDR), today announced it has achieved a valuation greater than US$1 billion, as it raised US$325 million in funding through a binding agreement with Georgian and Caisse de dépot et placement du Québec (CDPQ). Warburg Pincus remains eSentire’s majority shareholder. This investment in eSentire’s future growth marks a major milestone as the firm has surpassed US$100 million in annual recurring revenue (ARR) and plans to scale go-to-market operations across Europe and APAC to meet increasing enterprise demand. Over the next 18 months, eSentire will continue to invest significantly in research and development as it expands its patented Atlas XDR software as a service (SaaS) offering and will hire more than 400 team members globally in all facets of the business, bringing its employee count to over 1000.
“eSentire has established itself as the leading provider of Managed Detection and Response cybersecurity services, protecting the reputations and operations of more than 1200 organizations in over 75 countries from business disruption, with a Mean Time to Contain (MTTC) active cybersecurity threats of less than 15 minutes,” said Kerry Bailey, Chief Executive Officer, eSentire. “We are a people-first, mission-driven organization. I am incredibly proud of the resilience and grit of our team, and the lengths they go to, to protect our global customers 24/7. We are excited to welcome CDPQ to Team eSentire and look forward to our continued partnerships with Georgian and Warburg Pincus.”
Combining XDR technology at the edge, the industry’s top cybersecurity experts and more than two decades of security operations leadership in threat containment & remediation, eSentire puts businesses ahead of threat disruption. eSentire has been recognized by its customers for its personal commitment to their protection with an impressive 72 Net Promoter Score, coupled with customer success survey respondents highlighting 100% satisfaction in deployment time to value in a matter of days, and 98% confirming overall better protection from business disruption with eSentire MDR. The firm delivers proactive protection with a service portfolio that includes strategic Managed Risk services, 24/7 multi-signal MDR, and Digital Forensics and Incident Response services.
“We are thrilled to partner with Team eSentire in the next phase of their growth journey,” said Simon Chong, Co-Founder, Georgian. “eSentire has a well-documented history of making original threat discoveries and protecting its customers from ransomware battles and zero-day attacks. The team continues to exceed customer expectations by staying ahead of the threat curve through rapid threat detection, deep investigation capability, and complete threat response. We are proud to be part of eSentire’s global expansion plans across EMEA and APAC as the company delivers best-in-class security services to enterprises globally.”
As eSentire prepares for its next phase of growth, its Atlas XDR Cloud Platform will continue to deliver an unmatched Artificial Intelligence advantage whereby customer security postures are hardened as each threat detection model and expert response action are proactively pushed at scale across the eSentire global customer base. This Security Network Effect enables a level of protection that cannot be underestimated in today’s evolving cybercrime ecosystem and has been an integral driver of enterprise adoption of both eSentire MDR and the overall Atlas XDR SaaS offering.
“eSentire’s solutions are more critical than ever for any organization, given the heightened risk environment characterized by sophisticated cybersecurity attacks, the global need for talented cyber experts and the accelerating digitalization of the workplace,” said Thomas Birch, Managing Director, Global Venture Capital and Technology, CDPQ. “As a global technology investor, we are proud to support Team eSentire as they continue to revolutionize how organizations protect themselves with leading threat detection and response solutions.”
“eSentire provides the most complete suite of technologies and services in the Managed Detection and Response market and has experienced industry-leading growth over the past few years, supported by a strong customer service team and continued product innovation. The additional investment will allow eSentire to build upon its leadership position,” said Cary Davis, Managing Director, Warburg Pincus. “We are excited to continue to support Kerry and the eSentire team through their next phase of growth," added Brian Chang, Managing Director, Warburg Pincus.
This US$325 million raise completes a tremendous year for eSentire, including:
Evercore acted as the exclusive financial advisor to eSentire in connection with the transaction.
eSentire, Inc., is the Authority in Managed Detection and Response, protecting the critical data and applications of 1200+ organizations in 75+ countries from known and unknown cyber threats. Founded in 2001, the company’s mission is to hunt, investigate and stop cyber threats before they become business disrupting events. Combining cutting-edge machine learning XDR technology, 24/7 Threat Hunting, and proven security operations leadership, eSentire mitigates business risk, and enables security at scale. The Team eSentire difference means enterprises are protected by the best in the business with a named Cyber Risk Advisor, 24/7 access to SOC Cyber Analysts & Elite Threat Hunters, and industry-leading threat intelligence research from eSentire’s Threat Response Unit (TRU). eSentire provides Managed Risk, Managed Detection and Response and Incident Response services. For more information, visit www.esentire.com and follow @eSentire.
At Georgian, we’re building a platform to identify and accelerate the best growth-stage software companies. We believe that a digital approach can provide a better experience of growth capital to software company CEOs and their teams. We invest in high-growth companies that harness the power of data and trust. Based in Toronto, Georgian’s team brings together software entrepreneurs, machine learning experts, experienced operators, and investment professionals.
At Caisse de dépôt et placement du Québec (CDPQ), we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public retirement and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate, and private debt. As of June 30, 2021, CDPQ’s net assets total CAD 390 billion. For more information, visit cdpq.com, follow us on Twitter or consult our Facebook or LinkedIn pages.
About Warburg Pincus
Warburg Pincus LLC is a leading global growth investor. The firm has more than $73 billion in assets under management. The firm’s active portfolio of more than 235 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 20 private equity and 2 real estate funds, which have invested more than $100 billion in over 1,000 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit www.warburgpincus.com. Follow us on LinkedIn.
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