Managed security startup Expel secures $40 million
Managed security startup Expel knows that customers are eager to outsource what can often be an internal headache. The company proudly claims to give users the skinny, telling them only what they need to know and what they should care about.
Their no-fuss approach appears to strike a chord, as the company announced this week that it secured $40 million in a Series C round led by Index Ventures. Other participants in this round include Battery Ventures, Greycroft, NEA, Paladin Capital Group and Scale Venture Partners. The investment will also see the addition of Index Ventures partner Shardul Shah on Expel’s board of directors.
Expel’s platform enables 24x7 monitoring through its security operations center-as-a-service with a focus on product integration for its customers’ current suite of security tools. By providing robust recommendations rather than basic alerts, Expel errs on the side of being proactive as a thought partner for managed security.
“Expel is the only managed security provider that can demonstrate ROI to customers within minutes of turning on the service, not months. Expel’s technology-first, transparent approach to managed security is the best solution for managing security risks in the cloud age.”
“Expel is the only managed security provider that can demonstrate ROI to customers within minutes of turning on the service, not months,” said Shardul Shah, partner at Index Ventures, in a statement. “Expel’s technology-first, transparent approach to managed security is the best solution for managing security risks in the cloud age.”
“There are some fundamental beliefs we have here at Expel, and one of those is that people are really good at two things: using judgment and building relationships,” added Dave Merkel, CEO and co-founder of Expel. “Having a security operations center full of people chasing loads of alerts isn’t the way to ‘do security’ in the 21st century. Expel’s technology-first approach allows CISOs and their teams to stop playing a game of alert whack-a-mole and focus on managing the risks unique to their business.”
This round of funding bring Expel’s combined total of funding to $67.5 Million. Expel plans to leverage the Series C funding to add cloud monitoring heft, speed product innovation and build out its sales and marketing programs.