Innovation has and always will start with our customers. They are the real-life defenders on the front lines of the battle against advanced threats, and their needs are what guide our extensive threat research, new partner integrations, and technology advancements.
Today, ExtraHop announced the completion of our acquisition by Bain Capital Private Equity and Crosspoint Capital Partners. With this acquisition comes new backing that is ready to supercharge that innovation with both resources and deep industry expertise. These renewed resources for innovation come as cyber threats are getting more sophisticated. We're here to provide our customers with the forward-thinking visibility, detection, and response capabilities they need to stay ahead of those threats.
Taking Back the Advantage
In the past year alone, the meteoric rise of advanced cybercrime has targeted organizations across every sector imaginable, from hospitals to Fortune 500 companies. High-profile attacks and record-shattering extortion demands have reminded the world that cyberattackers have the advantage. The news has sparked renewed interest in cybersecurity investments, leading to $30 billion of private equity investment into cybersecurity the past 30 days, according to PitchBook data.
As fresh investments and new, experienced leadership join the visionaries who founded ExtraHop, we're looking toward fresh, cutting-edge ways to help our customers take back the advantage. We've already seen them prevent breaches from high-profile attackers using our machine-learning-based technology, but just as attackers are getting bolder and more sophisticated, we see greater urgency to find new ways to help our security professionals protect their organizations.
A Customer-Driven Approach
As we've evolved as a company, we've been continuously listening and working with our customers and the broader cybersecurity community to find technology solutions and promote ideas and information sharing that helps organizations regain the upper hand.
We worked with customers in the financial services sector to help them obtain deeper network visibility by enabling TLS 1.3 decryption in Reveal(x). This led to more insights for more organizations, extending the ability to detect supply chain attacks and other threats that could lurk deep in a network.
We listened when a retail customer wanted deeper integrations with CrowdStrike. We worked with them to develop automated security with real-time threat detection from ExtraHop, and automatic device quarantine from CrowdStrike, preventing targeted attacks from taking hold on their network. ExtraHop was the first provider to make NDR available in the CrowdStrike App Store.
We supported the cyberdefense community by becoming the first NDR provider to contribute to MITRE ATT&CK, helping organizations find ways to thwart advanced threats by filling gaps left by EDR and SIEM.
We expanded our threat research team to help give our customers and the cybersecurity community the information they need to respond to threats. We've been committed to launching one-click incident response threat briefings and security reports to keep pace with today's threat activity.
The Next Era of Innovation
The acquisition of ExtraHop is part of a wave of investments in cybersecurity companies on the rise—a trend that Business Insider this week noted marks a major shift toward growth-oriented investment for private equity. Speaking to Insider for the article, Hugh Thompson, a partner at Crosspoint Capital confirmed the trend: "We think we can add value to a company on the way up. This is a passion area of investment."
In explaining this shift, my colleague, ExtraHop CMO Bryce Hein, noted: "When you start seeing executive orders and headlines about supply chain attacks, when it hits Americans in their pocketbooks, it changes everything."
In other words, we're in a new era of cybersecurity, and ExtraHop is ready to take on the challenges ahead. We plan to expand upon our innovations as we continue to operate as an independent company. Our management team and the steadfast, customer-centric values that have guided our mission from the beginning will remain, but with fresh insight.
New investors like Greg Clark (BlueCoat, Symantec) and Samir Kapuria (NortonLifelock, Symantec) from Crosspoint Capital bring decades of cybersecurity leadership, while Marisa Femenia from Bain brings decades of experience growing companies at scale. Together, Greg, Samir, and Marisa, alongside other new investors, are primed to guide ExtraHop through a period of rapid advancement and innovation that helps our customers outpace cyberthreats.
We're also taking our leadership in the cybersecurity market further with strategic resources from Bain Capital. With the support of Bain, we're doubling down on our mission to accelerate the pace of threat research, enhance detection capabilities, and provide better, customer-centric services.
The new era of cyberdefense is here. With your support and partnership, and new resources at our disposal, we're ready to take on advanced threats, ensuring that the future of cybersecurity will go uncompromised. To learn more about today's announcement, read ExtraHop's press release.