Bain Capital Private Equity and Crosspoint Capital Partners have acquired ExtraHop, a cybersecurity company. The deal puts ExtraHop at a valuation of $900 million. Qatalyst Partners served as the financial advisor to ExtraHop while Morgan Stanley did likewise for Bain Capital Private Equity and Crosspoint Capital Partners.
SEATTLE – July 22, 2021 – ExtraHop, the leader in cloud-native network detection and response, today announced the completion of its acquisition by Bain Capital Private Equity and Crosspoint Capital Partners. The transaction, first announced on June 8, 2021, valued ExtraHop at US $900 million. ExtraHop is poised to accelerate momentum under new ownership and further advance its mission to help organisations detect and respond to advanced threats.
“Software supply chain attacks and the rise of double-extortion ransomware have brought security to the forefront of both business and consumer awareness, and organisations are actively looking for new ways to reclaim the upper hand against these advanced threats,” said Arif Kareem, CEO, ExtraHop. “ExtraHop is uniquely positioned to help customers defend against these new and emerging attack vectors. Adding the resources, expertise, and financial support of Bain Capital Private Equity and Crosspoint Capital Partners will allow ExtraHop to extend our leadership in the network detection and response market and continue to innovate to help our customers stay ahead of the game.”
“We are excited to invest behind ExtraHop as a true leader in the next big segment in cybersecurity—network detection and response—which organisations increasingly require to respond to today’s escalating threats proactively,” saidDavid Humphrey, a Managing Director at Bain Capital Private Equity.”
“We are honoured to partner with ExtraHop and look forward to working with the team as they continue to build an innovative, best-in-class offering that helps customers defend and overcome advanced threats,” added Max de Groen, a Managing Director at Bain Capital Private Equity.
“The cybersecurity market is seeing an incredible amount of innovation, and for good reason. With advanced threats like supply chain attacks and ransomware on the rise, the time to invest in accelerating this innovation is now,” said Greg Clark, Managing Partner at Crosspoint Capital Partners. “ExtraHop is poised to be one of the revolutionary great companies in this next era of cyber.”
Qatalyst Partners served as the exclusive financial advisor to ExtraHop, and Wilson Sonsini served as legal counsel. Morgan Stanley & CO. LLC served as the financial advisor to Bain Capital Private Equity and Crosspoint Capital Partners, and Ropes & Gray LLP served as legal counsel. PwC served as accounting advisor to Bain Capital Private Equity.
Cyberattackers have the advantage. ExtraHop is on a mission to help you take it back with security that can’t be undermined, outsmarted, or compromised. Our dynamic cyber defense platform, Reveal(x) 360, helps organisations detect and respond to advanced threats – before they compromise your business. We apply cloud-scale AI to petabytes of traffic per day, performing line-rate decryption and behavioural analysis across all infrastructure, workloads, and data-in-flight. With complete visibility from ExtraHop, enterprises can detect malicious behaviour, hunt advanced threats, and forensically investigate any incident with confidence. ExtraHop has been recognised as a market leader in network detection and response by IDC, Gartner, Forbes, SC Media, and numerous others.