Cybersecurity Company Expel Announces $40 Million in Series C Funding

Led by Index Ventures, new funding allows Expel to accelerate
innovation and expand cloud offerings

HERNDON, Va.–(BUSINESS WIRE)–#cybersecurity–Expel*, the leader in making customers smile when they hear the term
“managed security,” announced today that the company secured $40 Million
in Series C funding. The funding round was led by Index Ventures with
participation from Battery Ventures, Greycroft, NEA, Paladin Capital
Group and Scale Venture Partners. Shardul Shah, partner at Index
Ventures will join Expel’s board of directors. To date, Expel has
secured a combined total of $67.5 Million in funding.


Expel is flipping today’s inefficient managed security model on its head
to create a technology-driven approach that’s supported by smart people
(not the other way around). The company offers 24×7 monitoring through
its security operations center-as-a-service, integrating the security
tools customers already use into its proprietary technology. Expel then
helps customers make better, faster decisions about security issues by
giving them real answers and specific recommendations instead of
repackaging customers’ alerts and tossing them back in their laps. Expel
also offers practical advice on how to prevent issues from happening
over and over again.

“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. “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,” said 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.”

Expel will use the Series C funding to expand its cloud monitoring
capabilities, accelerate product innovation and fund additional sales
and marketing programs.

For more information about Expel:

About Expel

Expel provides transparent managed security, on-prem and in the cloud.
It’s the antidote for companies trapped in failed relationships with
their managed security service provider (MSSP) and those looking to
avoid the frustration of working with one in the first place. To learn
more, visit
https://www.expel.io
.

*Editor’s note –The following buzzwords were meticulously removed
from this press release in no particular order: market-leading,
next-generation, military-grade intelligence, artificial intelligence,
leveraging, powerful, platform, scalable, robust, changing threat
landscape, end-to-end, actionable, AI, real-time, machine learning,
state-of-the-art, best-of-breed, elite, continuous, and purpose-built.
We did, however, flip an inefficient managed security model on its head
(Got a helmet?).

Contacts

Kate Dreyer
Expel
703-963-2510
[email protected]

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