- Cyber firm ExtraHop raised $100M, doubled revenue to $200M, and added executives to scale its network detection business.
- The Seattle company appointed a new CEO and chief revenue officer to supplement leadership after breakneck growth.
- ExtraHop is positioned to dominate the security analytics market.
Seattle-based network detection and response company ExtraHop announced $100 million in new funding this week to scale on the heels of breakneck expansion. The latest capital injection comes from existing investors, including private equity giants Bain Capital and Crosspoint Capital, which acquired ExtraHop in 2021.
Annual recurring revenue doubled
The cybersecurity innovator also revealed it closed 2022 with $200 million in annual recurring revenue, doubling from the previous year.
ExtraHop now employs over 700 staff. “This new infusion of capital will help the company build on its recent success and scale to new heights,” said CEO Greg Clark.
ExtraHop’s top executives
Clark took the reins in October upon appointment by Crosspoint Capital, replacing former CEO Patrick Dennis. ExtraHop is now ushering in additional leadership to supplement its second straight year of hypergrowth.
The company hired Marc Andrews as Chief Revenue Officer, drawing on his past sales leadership roles at top cyber firms Symantec and Blue Coat Systems. Meanwhile, Kanaiya Vasani joins ExtraHop as Chief Product Officer after scaling the security business at Infoblox.
New strategies will lead to dominance
Leveraging machine learning, ExtraHop helps enterprises manage threats across networks through its flagship Reveal(x) software-as-a-service platform.
With strong momentum and an expanding war chest, the cyber trailblazer seems poised for greater market penetration under its new strategic guidance.
