23 Feb Global Cybersecurity Leader eSentire Raises US$325M and Achieves Unicorn Status

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

eSentire News Release

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.

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“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:

• Acquired the industry’s top digital forensics software firm, CyFIR
• Introduced the world’s fastest threat suppression service level agreement – 4 hours, anywhere in the world – for eSentire Incident Response Retainer customers
• Named the top MDR provider in the 2021 MSSP Alert Top 250 MSSP Global Ranking
• Recognized as a Leader in IDC’s U.S. MDR MarketScape
• Named the MDR Leader by G2 Peer-to-Peer reviews
• Introduced seasoned B2B SaaS leadership including Matt Vitale as Chief Revenue Officer, Erin McLean as Chief Marketing Officer, Bob Layton as Chief Channel Officer and Anthony Lam as Chief Financial Officer

Evercore acted as the exclusive financial advisor to eSentire in connection with the transaction.