Expel*, the Security Operations Center (SOC)-as-a-service provider that’s committed to making security as accessible as the internet, announced today that it secured $50 Million in Series D funding led by CapitalG, the growth equity investment fund of Google parent company Alphabet. The financing round also includes participation from Battery Ventures, Greycroft, Index Ventures, Paladin Capital Group and Scale Venture Partners. Gene Frantz, general partner at CapitalG, will join Expel’s board of directors. Since its inception in 2016, Expel has secured a combined total of $117.5 Million in financing.
Expel’s “BYO tech” SOC-as-a-service approach gives customers 24×7 managed detection and response (MDR) for on premise, cloud and hybrid environments. Customers get more value out of the security tools they already own because Expel has 40+ native integrations with the most commonly used endpoint, network, SIEM and cloud services. Expel connects to customer tech through APIs (not agents) so customers can install and activate the service remotely in a matter of hours allowing internal teams to get back to focusing on the initiatives most important to their business.
“There are three trends that show no sign of stopping: more ways for attackers to compromise companies, more new products to try and stop them and a growing mountain of alerts for understaffed security teams to sift through,” said Gene Frantz, general partner at CapitalG. “Most companies can’t find the cybersecurity talent they want and other security services can take months to onboard. Expel makes excellent security incredibly simple, allowing companies to ‘turn on’ a world-class security operations center in a few hours.”
“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.”
Expel will use the new funding to grow its sales and marketing operations, further invest its rapidly growing cloud security offerings and explore international growth opportunities.
To learn more about Expel:
Expel’s SOC-as-a-service capability offers 24×7 security monitoring and response for on premise, cloud and hybrid environments. The company uses the security signals its customers already own, helping organizations get more value from existing security investments. Expel connects to customer tech remotely through APIs, not agents, meaning Expel’s SOC can start monitoring a customer’s environment in a matter of hours, letting their internal teams get back to focusing on only the most strategic security priorities. To learn more, visit: http://expel.io.
About Paladin Capital Group
Paladin Capital Group was founded in 2001 and has offices in Washington DC, New York, Silicon Valley, London, and Luxembourg. As a multi-stage investor, Paladin focuses on best-of-breed companies with technologies, products and services that meet the challenging global cybersecurity and digital infrastructure resilience needs for commercial and government customers. Paladin has over $1 billion in committed capital across multiple funds. For updates, follow us on Twitter and LinkedIn.