This news comes on the heels of its Series F round. The company plans to invest the funding in R&D and enhance its SaaS offering. Here are the top-line bullets you need to know.
eSentire, a managed detection and response (MDR) software vendor, has raised $100M in a Series F round that drew participation from Caisse de depot et placement du Quebec (CDPQ), Georgian, and Warburg Pincus. Secondary purchases by CDPQ and Georgian accounted for an additional $225M. CDPQ and Georgian will own 35% of eSentire when the transaction closes, and Warburg Pincus’ stake will drop to just over 50%.
HOW’S THE COMPANY PERFORMING?
- Canada-based eSentire leverages AI to help hedge funds detect and eliminate cyber threats in real time.
- eSentire’s annual recurring revenue (ARR) has surpassed $100M.
- The company has over 1.2K clients across 75+ countries.
- The startup is supported by a team of over 540 employees.
Source: eSentire
WHY DOES THE MARKET MATTER?
- The global cybersecurity market is expected to reach a value of $478.7B by 2030, growing at a CAGR of 9.5%, according to Allied Market Research.
- Funding to cybersecurity companies reached an all-time high of $28B in 2021, with early-stage (seed/angel and Series A) startups attracting more than half of all cyber deals.
- Big tech companies are increasing their cybersecurity investments. Google and Microsoft are looking to spend $10B and $20B, respectively, on cybersecurity over the next 5 years.
- The growing frequency and severity of cyberattacks, the shortage of cybersecurity professionals, and rising governmental regulatory pressure have contributed to market growth.
- Increased digitization amid the Covid-19 pandemic has also contributed to market growth.
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