Category creator and leader driving MDR innovation with human expertise at machine scale
CAMBRIDGE, Ontario and SEATTLE, March 4, 2019 /PRNewswire/ -- eSentire, Inc., the global leader in Managed Detection and Response (MDR), today announced it has raised an additional USD $47 million in funding led by majority investor Warburg Pincus and minority investors Georgian Partners and Edison Partners. This continued investment validates eSentire's strong leadership position and will accelerate innovation to address the complexity of protecting data that is widely distributed and at machine scale.
Traditional security solutions lack the visibility, intelligence, scale and speed to keep pace with the rise of vulnerabilities and cyber threats, resulting in an ever-growing need for MDR. Category creator and leader eSentire provides organizations with constant dedicated threat detection and response, safeguarding their business from known and unknown threats across their entire attack surface.
eSentire is innovating the MDR category again through the application of a proprietary AI methodology for threat hunting and advanced automation to enable our security experts to operate at machine scale, which solves some of cybersecurity's biggest challenges.
Digital transformation and rapid rise of cloud, endpoints and edge computing has created a large, noisy attack surface that adversaries can take advantage of. Security is both a data volume and technology problem that requires a modern approach of both the application of AI and expert analysts to solve the complexity of data scale and dispersed data.
Organizations are adopting MDR to process massive amounts of data, providing full threat visibility and response to protect their assets.
Kerry Bailey, CEO, eSentire, said: "Protecting the scale of information that is widely distributed across an organization's infrastructure, endpoint, customers and supply chain partners requires the continued innovation of MDR by applying AI technology with expert analysts. Today's business leaders recognize the fiduciary responsibility of securing mission-critical information, and eSentire has been committed to this responsibility since creating MDR."
Cary J. Davis, Managing Director, Warburg Pincus, said: "eSentire is well positioned in the high-growth cybersecurity space to further accelerate MDR adoption and innovation as organizations look to solutions that provide end-to-end protection with the rising volume of data and threats penetrating IT environments. eSentire has the opportunity to build on its category creator and leadership position. We look forward to continuing to work with Kerry Bailey and his seasoned leadership team."
Aaron Sherrill, Senior Analyst, 451 Research, said: "The managed security services (MSS) market continues to grow rapidly at a CAGR of nearly 17 percent, with global market revenues expected to reach more than $24 billion by 2022. Managed detection and response services are key drivers of this growth as executives and boards increasingly acknowledge the importance of using third-party experts to cope with the continued proliferation of sophisticated attacks on the one hand and the ever-evolving compliance and regulatory requirements on the other."
About eSentire: eSentire, Inc., the global leader in Managed Detection and Response (MDR), keeps organizations safe from constantly evolving cyber attacks that technology alone cannot prevent. Its 24x7 Security Operations Center (SOC), staffed by elite security analysts, hunts, investigates, and responds in real-time to known and unknown threats before they become business disrupting events. Protecting more than $5.7 trillion AUM in the financial sector alone, eSentire absorbs the complexity of cybersecurity, delivering enterprise-grade protection and the ability to comply with growing regulatory requirements. For more information, visit www.esentire.com and follow @eSentire.
About Warburg Pincus: Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $43 billion in private equity assets under management. The firm's active portfolio of more than 180 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. The firm is a leading investor in security companies, with current investments including CrowdStrike, Contrast Security, BitSight, eSentire, Cyren and Zimperium, among others. Founded in 1966, Warburg Pincus has raised 17 private equity funds, which have invested more than $73 billion in over 855 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information, please visit www.warburgpincus.com.