eSentire Secures $19.5 Million to Expand its Elite Cybersecurity Services
Cambridge, Ontario, February 3, 2016 – eSentire, Inc., a proven industry leader in managed cybersecurity services, today announced that it had secured a total investment of $19.5 M (USD) co-led by existing investor Edison Partners and Georgian Partners with participation from Cisco Investments, with additional participants including Northleaf Ventures Catalyst Fund, and new investor, Information Venture Partners II, LP.
eSentire’s expertise in cybersecurity has contributed to its explosive success as an industry leader recognized as one of Deloitte’s Fast 50 in Canada and Fast 500 in North America. The equity investment will enable the company to scale and strengthen its presence in key market, launch security operations in new geographies as well as verticals, and expand its early success in cloud-based threat intelligence harvesting, sharing and automated protection.
“eSentire’s elite team of security experts keep up with emerging cyber threats and evolving regulatory measures to simplify cybersecurity and protect high-risk assets from complex threats that technology alone can miss. We offer clients real eyes on glass monitoring 24×7 and it works. This investment recognizes our success and will help us to continue to expand our reach to protect even more clients,” said J.Paul Haynes, CEO eSentire. “The business community is coming to terms with the new requirement for cybersecurity and the level of protection needed to defend themselves, and eSentire is ready to deliver in this environment where hyper-vigilance married to advanced technology makes the difference.”
In 2015, eSentire opened its European headquarters and a second Security Operations Center in Cork Ireland and committed to hiring 100 new employees in Europe over the next five years. The company also introduced one of the most advanced forensic capabilities in cybersecurity with its product TRAP Targeted Retrospection Analysis Platform™. For the past three years the company has achieved explosive revenue growth and has been the recipient of a litany of industry awards.
“Edison Partners has made previous investments in eSentire. Its impressive year over year growth outshines the vast majority of investment opportunities. eSentire and its leadership team continue to prove their ability to innovate and effectively mitigate threats for its clients and its apparent their success isn’t slowing down,” said Lenard Marcus, Edison Partners.
eSentire pioneered Continuous Advanced Threat Protection, which leading analyst firm Gartner Research began covering in June of this year as a best practices framework for defending against the most egregious cyber security attacks. eSentire’s solution delivers continuous monitoring, real-time threat detection and containment technology as a service with human threat analysts on a 24x7x365 basis. eSentire challenges legacy security approaches, combining behavior-based analytics, immediate mitigation and advanced threat intelligence.
“Thwarting cyber attacks and data breaches has become a strategic priority for every business, especially in financial services, and eSentire is a recognised industry leader in protecting organisations from cyber threats.” says Simon Chong, Managing Partner at Georgian Partners “The team is delivering outstanding growth already and so we’re excited to be supporting acceleration of their product plans and market presence with this funding.”
About eSentire Inc.
eSentire® is a proven industry leader, keeping mid-size organizations safe from constantly evolving cyber attacks that traditional security defenses simply can’t detect. eSentire combines people, process and technology to deliver an unmatched, premium level service that detects, remediates and communicates sophisticated cyber threats in real-time, 24/7. Protecting more than $2.5 trillion in Assets under Management (AuM), eSentire is the award-winning choice for security decision-makers in mid-size enterprise. eSentire has received multiple accolades for exceptional service, which includes HFM (Hedge Fund Manager) Service Provider awards (2013, 2014, 2015). In 2015 eSentire was named to Deloitte’s Technology Fast 50 TM and Fast 500TM and included in the list of “Cool Vendors” in the Cool Vendors in Cloud Security Services, 2015 report by Gartner, Inc. For more information visit www.esentire.com and follow @esentire.
About Edison Partners
For 30 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey and build successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and marketing software industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team, based in Princeton, NJ, McLean, VA, and Cleveland, OH, manages more than $1 billion in assets throughout the eastern United States.www.edisonpartners.com.
About Georgian Partners
Georgian Partners is a thesis-driven growth equity firm investing in business software, Internet and information companies. Founded by successful entrepreneurs and technology executives, Georgian Partners leverages our global software expertise to be able to directly impact the success of companies. For more information, visit www.georgianpartners.com.
About Northleaf Venture Catalyst Fund
Northleaf Venture Catalyst Fund is a joint initiative between major Canadian institutional investors and the governments of Canada and Ontario to invest primarily in Canada-based venture capital and growth equity funds and direct co-investments that support innovative, high-growth companies. NVCF is structured as a fund of funds with the primary objective of generating attractive returns for its investors. The Fund is managed by Northleaf Capital Partners. For more information on Northleaf, visit www.northleafcapital.com.
About Cisco Investments
Cisco Investments* is the venture capital investment arm of Cisco. Cisco Investments, headquartered in San Jose, California, invests globally and works with entrepreneurs to discover and accelerate disruptive technologies and new business models. With more than 40 investment professionals and over 90 direct investments around the world, Cisco Investments is focused on strategic opportunities aligned with Cisco’s current business as well as innovations that may shape the broader technology market in the future.
*Cisco Investments is not a separate corporate entity, but instead refers to the combined investment activities of Cisco Systems, Inc. and its subsidiaries.
About Information Venture Partners
Information Venture Partners is an entrepreneur friendly, early stage venture fund focused on North American financial and enterprise technology companies. Information Venture Partners’ two decades of experience with global financial institutions has provided it with a unique lens on identifying and growing financial technology companies. As pioneer investors in SaaS companies, the team understands the key success factors in building enterprise software, analytics platforms and the social enterprise companies. For more information on Information Venture Partners, visit www.informationvp.com.