Gartner names newcomer Exabeam a leader in SIEM

Security information and event management (SIEM) company Exabeam has announced that it has been positioned by Gartner as a Leader, based on completeness of vision and ability to execute in the 2018 Magic Quadrant for Security Information and Event Management.

This is Exabeam's second year in the Magic Quadrant.

This year's report states that the SIEM market grew from $1.99bil in 2016 to $2.18bil in 2017 where threat management is the primary driver, and general monitoring and compliance remains secondary.

Gartner analysts Kelly Kavanagh, Toby Bussa, and Gorka Sadowski say, "The greatest area of unmet need is effective detection of and response to targeted attacks and breaches," to which "the effective use of threat intelligence, behavioural profiling and analytics can improve detection success."

The analysts also write that the vendor landscape for SIEM is evolving, with "recent entrants bringing technologies optimised for analytics use cases.

Exabeam products executive vice president Sylvain Gil says, "We are investing heavily in building out our cloud portfolio and expanding our already far-reaching global presence, following a recent $50 million Series D funding round.

The round, backed entirely by existing investors, was led by Lightspeed Venture Partners and supported by Aspect Ventures, Cisco Investments, Icon Ventures, Norwest Venture Partners and cybersecurity investor Shlomo Kramer.

The funds will be used to grow the company's cloud portfolio, as well as sales and channels to expedite global expansion.

"Exabeam was created in 2013 to provide modern enterprises with a new, accurate and effective way to detect even the most minuscule anomalies on their network," says Exabeam CEO Nir Polak.

Exabeam was recently designated a Customers' Choice for SIEM in the 2018 Gartner Peer Insights for Security Information and Event Management.

The Peer Insights distinction is a recognition of vendors in a given market based on verified ratings on solutions from IT professionals.

Exabeam was also named the highest rated vendor overall in the 2018 Gartner Peer Insights 'Voice of the Customer': Security Information and Event Management Market report.