Funding led by CapitalG and Paladin demonstrates high confidence in Expel’s trajectory
Press release · Cole Finch
Herndon, Va. October 3, 2022 – Expel, the managed security provider that aims to make security easy to understand, use and improve, today announced that it has increased its Series E funding round, led by Alphabet’s independent growth fund CapitalG and Paladin Capital Group to $171.3 million. The additional investment includes participation from existing investors Scale Venture Partners, March Capital, Index Ventures, and Battery Ventures and brings the company’s total funding to $288.8 million.
“Expel transforms enterprises’ capacity to protect themselves from the constant threat of cyber attacks,” said Gene Frantz, general partner at CapitalG and Expel board member. “Expel’s approach to optimizing people, processes, and technology has proven highly effective in an ever-growing threat landscape. We’ve been proud to lead investments in the company for the past two years and are pleased to expand the Series E funding round to set the stage for even more great things to come.”
“Cybersecurity issues challenge companies of all sizes across all industries every day, and we find it incredibly rewarding to ease the burden on these teams by providing security that makes sense,” said Dave Merkel, CEO and co-founder of Expel. “We’re very fortunate to have a group of investors who so believe in our mission that they want to fuel accelerated growth so that we can better protect customers from growing cyber threats.”
Expel is a security operations provider that offers managed detection and response (MDR), remediation, phishing support, and threat hunting. Expel’s technology and people work together — each doing what they do best — to detect, understand, and fix issues fast on behalf of customers. The collaborative experience in the Expel Workbench™ platform enables customers to choose how they prioritize their security operations — whether that’s following along with live investigations or receiving alerts at every step from when an investigation starts until it’s done. This unmatched transparency means customers always know what’s happening in their investigations, but can dedicate their time to strategic security priorities rather than sifting through alerts.
“Expel has clearly demonstrated its leadership in the security operations space, delivering meaningful outcomes that build strong relationships with customers,” said Mourad Yesayan, managing director at Paladin Capital Group and Expel board member. “Expanding the Series E funding round will help ensure that Expel continues its already-impressive trajectory.”
Expel will use the funding extension on efforts focused on accelerating rapid and sustainable growth, driving international expansion, and amplifying sales, channel, and go-to-market initiatives, all while maintaining its commitment to being a welcoming and inclusive place to work.
Expel helps companies of all shapes and sizes minimize business risk. Our technology and people work together to make sense of security signals—with your business in mind—to detect, understand, and fix issues fast. Expel offers managed detection and response (MDR), remediation, phishing, and threat hunting. For more information, visit our website, check out our blog, or follow us on LinkedIn or Twitter.
CapitalG, Alphabet’s independent growth fund, invests in remarkable companies transforming the fields of consumer products and services, enterprise tech, cybersecurity, healthcare tech, insuretech, transportation and fintech. CapitalG partners with growth stage companies in their transition from startup to scale up through hands-on assistance from its in-house growth team and connections to Google’s engineering, product, marketing, sales and people operations experts worldwide. More than 2,000 Googlers and Alphabet leaders have already engaged with the companies in which we’ve invested, including Airbnb, CrowdStrike, Duolingo, Freshworks, Lyft, Robinhood, Stripe, UiPath and Unqork, among others. Learn more at www.CapitalG.com.
About Paladin Capital Group
Paladin Capital Group was founded in 2001 and has offices in Washington DC, New York, London, Luxembourg, and Silicon Valley. As a multi-stage investor, Paladin focuses on companies with technologies, products, and services that meet the challenging global cyber security and digital infrastructure resilience needs for commercial and government customers. Follow the firm on Twitter @Paladincap and visit www.paladincapgroup.com.