- Exabeam, a Smarter SIEM company, announced recently that it acquired leading Israel-based cloud application security business SkyFormation
Exabeam, a Smarter SIEM company, announced recently that it acquired SkyFormation — which is a leading Israel-based cloud application security business. This is Exabeam’s fist acquisition and it comes on the heels of its $75 million Series E round of funding in May. The investment will enable Exabeam to establish an office in Israel and it will provide access to talent and help more customers move their businesses and security to the cloud.
Launched in 2014 by CEO Asaf Barkan, CTO Uri Ben-dor, and Principal Engineer Nadav Lavy, SkyFormation enables organizations to collect logs from more than 30 cloud services into Exabeam Data Lake, Exabeam Advanced Analytics, or any other security information and event management (SIEM) tool.
The updates are made automatically whenever there are API changes so security teams do not need coding skills or costly professional services engagements to ensure the right data is being collected. And security teams can extend the use of behavioral analytics for detecting attacker tactics, techniques and procedures, and maintain regulatory compliance in the cloud. Plus logs can be collected from AWS, GitHub, Google, Microsoft Office 365, Salesforce, and many other security, identity and access management, infrastructure and business applications.
This acquisition follows the launch of the Exabeam SaaS Cloud in February 2019 and the company’s first cloud security service called Exabeam Threat Intelligence Service in September 2018. And it builds upon an existing OEM relationship that has seen a significant number of Exabeam’s largest customers purchase Exabeam Cloud Connectors.
The modular Exabeam Security Management Platform allows analysts to collect unlimited log data, use behavioral analytics to detect attacks, and automate incident response both on-premises or in the cloud. And with Exabeam Smart Timelines, sequences of user and device behavior created using machine learning, further reduce the time, and specialization required to detect attacker tactics, techniques, and procedures.
“We are very excited to welcome the entire SkyFormation team and its partners to Exabeam,” said Exabeam co-founder and CEO Nir Polak. “Exabeam customers have long been able to use the SkyFormation platform as part of our solution, but this acquisition means other organizations will now be able to augment their SIEM with Cloud Connectors to modernize their security operations. I look forward to growing our new Israel office.”
As Exabeam sets up an office in Israel based around the SkyFormation team, the company will gain access to talent in a hub for cybersecurity expertise. And Exabeam’s expansion to Israel builds on its opening of other offices in Atlanta, London, and Singapore earlier this year.
“This announcement is great news for the SkyFormation team, for Exabeam and for every customer that will now be able to benefit from our combined security portfolio,” added Barkan. “It’s exciting to be joining a global leader in SIEM, and to help Exabeam’s customers secure their applications as they move to the cloud.”