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SEATTLE--(BUSINESS WIRE)--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 $900 million. ExtraHop is poised to accelerate momentum under new ownership and further advance its mission to help organizations 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 organizations 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 organizations increasingly require to respond to today's escalating threats proactively," said David Humphrey, a Managing Director at Bain Capital Private Equity."
"We are honored 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.
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"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.
About ExtraHop
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 organizations 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 behavioral analysis across all infrastructure, workloads, and data-in-flight. With complete visibility from ExtraHop, enterprises can detect malicious behavior, hunt advanced threats, and forensically investigate any incident with confidence. ExtraHop has been recognized as a market leader in network detection and response by IDC, Gartner, Forbes, SC Media, and numerous others.
When you don't have to choose between protecting your business and moving it forward, that's security uncompromised. Learn more at www.extrahop.com.
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© 2021 ExtraHop Networks, Inc., Reveal(x), Reveal(x) 360, Reveal(x) Enterprise, and ExtraHop are registered trademarks or marks of ExtraHop Networks, Inc.
About Bain Capital Private Equity
Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity's global team of approximately 550 professionals create value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 22 offices on four continents. The firm has made primary or add-on investments in more than 1,000 companies since its inception, including supporting the growth of such cybersecurity and technology businesses as Symantec, Blue Coat, Nutanix, BioCatch, Awake, Armis, and BMC. In addition to private equity, Bain Capital invests across asset classes including credit, real estate, public equity and venture capital, managing more than $130 billion in total and leveraging the firm's shared platform to capture opportunities in strategic areas of focus.
About Crosspoint Capital Partners
Crosspoint Capital Partners is a private equity investment firm focused on the cybersecurity, privacy and infrastructure software markets. Crosspoint has assembled a group of highly successful operators, investors and sector experts to partner with foundational technology companies and drive differentiated returns. Crosspoint has offices in Menlo Park, CA and Boston, MA. For more information visit: www.crosspointcapital.com.
"Software supply chain attacks and the rise of double-extortion ransomware have brought security to the forefront of both business and consumer awareness, and organizations 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 organizations increasingly require to respond to today's escalating threats proactively," said David Humphrey, a Managing Director at Bain Capital Private Equity."
"We are honored 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.
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"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.
About ExtraHop
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 organizations 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 behavioral analysis across all infrastructure, workloads, and data-in-flight. With complete visibility from ExtraHop, enterprises can detect malicious behavior, hunt advanced threats, and forensically investigate any incident with confidence. ExtraHop has been recognized as a market leader in network detection and response by IDC, Gartner, Forbes, SC Media, and numerous others.
When you don't have to choose between protecting your business and moving it forward, that's security uncompromised. Learn more at www.extrahop.com.
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© 2021 ExtraHop Networks, Inc., Reveal(x), Reveal(x) 360, Reveal(x) Enterprise, and ExtraHop are registered trademarks or marks of ExtraHop Networks, Inc.
About Bain Capital Private Equity
Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity's global team of approximately 550 professionals create value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 22 offices on four continents. The firm has made primary or add-on investments in more than 1,000 companies since its inception, including supporting the growth of such cybersecurity and technology businesses as Symantec, Blue Coat, Nutanix, BioCatch, Awake, Armis, and BMC. In addition to private equity, Bain Capital invests across asset classes including credit, real estate, public equity and venture capital, managing more than $130 billion in total and leveraging the firm's shared platform to capture opportunities in strategic areas of focus.
About Crosspoint Capital Partners
Crosspoint Capital Partners is a private equity investment firm focused on the cybersecurity, privacy and infrastructure software markets. Crosspoint has assembled a group of highly successful operators, investors and sector experts to partner with foundational technology companies and drive differentiated returns. Crosspoint has offices in Menlo Park, CA and Boston, MA. For more information visit: www.crosspointcapital.com.
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