May 22, 2024

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ExtraHop to be Obtained by Bain Capital Non-public Equity and Crosspoint Funds Partners

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SEATTLE–(Enterprise WIRE)–ExtraHop (the “Company”), the leader in cloud-native network detection and response, these days introduced that it has entered into a definitive settlement to be acquired by Bain Money Personal Equity (“Bain Capital”) and Crosspoint Cash Companions (“Crosspoint Capital”) in a strategic transaction valued at $900 million. Bain Money is a primary investor in technological know-how corporations and a person of the world’s leading multi-asset different financial commitment corporations. Crosspoint Cash is a non-public equity firm focused on cybersecurity, privateness, and infrastructure software program sectors.

ExtraHop CEO Arif Kareem and co-founders Jesse Rothstein, Chief Technology Officer, and Raja Mukerji, Chief Buyer Officer, will continue on in their respective roles. Rothstein and Mukerji will also continue being considerable buyers in the Company.

According to exploration from IDC, ExtraHop is amid the top a few gamers in community detection and response (NDR), the next swiftest developing phase of the cybersecurity market place. The Firm’s growth has considerably exceeded that of the section, and it has prolonged the electrical power of its flagship system to consolidate adjacent markets like intrusion detection, community forensics, and IoT protection.

“Organizations nowadays experience an array of very refined cyber attacks with varied motivations that operate the gamut from theft of sensitive individual and enterprise information to illicit revenue. Attackers have long experienced the edge, and we’re on a mission to adjust that,” explained Kareem. “By combining our fantastic group, industry want, and technology with the deep area knowledge and sources of Bain Money and Crosspoint Cash, ExtraHop has the possibility to expand quicker and speed up our innovation to assist our prospects protect their functions from even the most superior threats.”

“As the occasions of the previous few months make crystal crystal clear, cybersecurity is now a mission-crucial necessity in the system and operations of just about every corporation on the planet, with enormous implications for economic and reputational properly-getting. We believe that community detection and response is the following key cybersecurity segment and that ExtraHop has the greatest company technologies in the place,” explained David Humphrey, a Running Director at Bain Money Non-public Equity.

“The Company’s tactic is uniquely positioned to aid enterprises protect from the most state-of-the-art cyber threats and address the security worries of multi-cloud environments, business IoT, and hybrid workforces. We are thrilled to be part of the talented workforce at ExtraHop, in partnership with Crosspoint Funds, to assist speed up the expansion of the business and keep on breakthroughs in the art of cyber defense,” additional Max de Groen, a Handling Director at Bain Funds Non-public Equity. ExtraHop is the 1st focused investment manufactured from Bain Funds Fund XIII, the firm’s newest flagship $11.8 billion non-public equity fund.

“After many several years of constructing and offering network visibility into the cyber business, I was very impressed with the capabilities of ExtraHop in their capacity to guard the evolving community as workloads shift to the cloud and networks extend beyond what companies manage,” explained Greg Clark, Handling Husband or wife at Crosspoint Funds. “When you might be underneath attack, deep visibility into east-west visitors is essential for modern-day protection and ExtraHop has set itself apart in this rising category with potent AI and habits-centered analytics.”

Ian Loring, Running Lover at Crosspoint Cash, additional, “ExtraHop delivers a exclusive level of visibility into networks and delivers sophisticated genuine-time detection, investigation, and response capabilities to companies all over the entire world. We are enthusiastic to spouse with the ExtraHop crew and Bain Money to guidance the Firm in the up coming chapter of its growth.” ExtraHop is among the the to start with investments in Crosspoint Capital Fund I, a $1.3 billion non-public fairness fund concentrated on the cybersecurity, privacy, and infrastructure software sectors.

The transaction is expected to shut in the summer of 2021 and is subject to customary closing situations, together with receipt of regulatory approvals.

Qatalyst Associates is serving as the distinctive economic advisor to ExtraHop, and Wilson Sonsini is serving as authorized counsel. Morgan Stanley & Co. LLC is serving as the financial advisor to Bain Capital and Crosspoint Funds, and Ropes & Grey LLP is serving as legal counsel. PwC is serving as the accounting advisor to Bain Cash.

About ExtraHop

ExtraHop is on a mission to arm safety teams to confront lively threats and stop breaches. Our Reveal(x) 360 system, powered by cloud-scale AI, covertly decrypts and analyzes all cloud and community website traffic in actual time to reduce blind places and detect threats that other equipment pass up. Refined device learning models are used to petabytes of telemetry collected constantly, helping ExtraHop consumers to establish suspicious actions and protected over 15 million IT belongings, 2 million POS systems, and 50 million affected individual information. ExtraHop is a current market share chief in community detection and response with 30 new market awards like Forbes AI 50, Cybercrime Ransomware 25, and SC Media Security Innovator.

Halt Breaches 84{14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3} More rapidly. Get Started off at www.extrahop.com/freetrial

About Bain Money Private Fairness

Bain Funds Private Equity (www.baincapitalprivateequity.com) has partnered carefully with management groups to provide the strategic means that build fantastic businesses and support them prosper since its founding in 1984. Bain Money Personal Equity’s global workforce of somewhere around 550 industry experts generate value for its portfolio businesses by its world wide system and depth of experience in essential vertical industries including healthcare, client/retail, economic and organization products and services, industrials, and technological innovation, media and telecommunications. Bain Cash has 22 offices on four continents. The business has built key or insert-on investments in extra than 1,000 providers considering that its inception, such as supporting the progress of these cybersecurity and technological innovation organizations as Symantec, Blue Coat, Nutanix, BioCatch, Awake, Armis, and BMC. In addition to non-public equity, Bain Funds invests throughout asset courses together with credit score, genuine estate, general public equity and undertaking capital, controlling extra than $130 billion in full and leveraging the firm’s shared platform to seize options in strategic parts of aim.

About Crosspoint Capital Associates

Crosspoint Capital Companions is a personal fairness financial commitment company targeted on the cybersecurity, privateness, and infrastructure program markets. Crosspoint has assembled a team of really profitable operators, traders and sector specialists to husband or wife with foundational technological know-how firms and generate differentiated returns. Crosspoint has offices in Menlo Park, CA and Boston, MA. For additional data take a look at: www.crosspointcapital.com.

© 2021 ExtraHop Networks, Inc., Reveal(x), Expose(x) 360, Expose(x) Organization, and ExtraHop are registered trademarks or marks of ExtraHop Networks, Inc.

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