Warburg Pincus has led a $47m investment round in cyber threat detection and response business eSentire.
Edison Partners and Georgian Partners also took part in the round, which the company said would accelerate its innovation addressing the complexity of protecting data that is widely distributed and at machine scale.
The company aims to provide organisations with constant dedicated threat detection and response, and is currently innovating through an AI methodology for threat hunting and advanced automation.
eSentire CEO Kerry Bailey said, “Protecting the scale of information that is widely distributed across an organization’s infrastructure, endpoint, customers and supply chain partners requires the continued innovation of Managed Detection and Response (MDR) by applying AI technology with expert analysts.
“Today’s business leaders recognize the fiduciary responsibility of securing mission-critical information, and eSentire has been committed to this responsibility since creating MDR.”
Warburg managing director Cary Davis added, “eSentire is well positioned in the high-growth cybersecurity space to further accelerate MDR adoption and innovation as organizations look to solutions that provide end-to-end protection with the rising volume of data and threats penetrating IT environments.
“eSentire has the opportunity to build on its category creator and leadership position.”
Aaron Sherrill, senior analyst at 451 Research, said, “The managed security services market continues to grow rapidly at a CAGR of nearly 17 per cent, with global market revenues expected to reach more than $24bn by 2022.
“Managed detection and response services are key drivers of this growth as executives and boards increasingly acknowledge the importance of using third-party experts to cope with the continued proliferation of sophisticated attacks on the one hand and the ever-evolving compliance and regulatory requirements on the other.”
Warburg Pincus recently completed its ILS2.5bn $690m purchase of Israel-based credit card services provider Leumi Card.
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