Canadian MDR startup eSentire raises $325M on a $1B unicorn valuation

Canadian managed detection and response startup eSentire Inc. has raised $325 million in new funding to invest significantly in research and development and increase its headcount.

The secondary market and private equity raise came through binding agreements with Georgian and Caisse de dépot et placement du Québec. The funding was raised on a valuation of greater than $1 billion, giving eSentire unicorn status for the first time.

Founded in 2001, eSentire provides information security solutions and protects enterprises from advanced cyber threats. The company pitches itself as the “Authority” in managed detection and response with a mission to hunt, investigate and stop cyber threats before they become business disrupting events.

eSentire’s product combines machine learning XDR technology, 24/7 threat hunting and security operations leadership to mitigate business risk and enable security at scale. Ease of deployment is also a strong point with a mean time to contain active cybersecurity threats of less than 15 minutes.

The company’s Atlas XDR Cloud Platform is said to deliver an unmatched artificial intelligence advantage whereby customer security postures are hardened as each threat detection model and expert response action are proactively pushed at scale across the eSentire customer base. What eSentire calls the “security network effect” enables a level of protection that cannot be underestimated in today’s evolving cybercrime ecosystem. This company’s SNE has been an integral driver of enterprise adoption of both eSentire MDR and the overall Atlas XDR software-as-a-service offering.

eSentire has seen strong growth with its MDR solution protecting critical data and applications of over 1200 organizations in over 75 countries from known and unknown cyber threats. The company has also surpassed over $100 million in annual recurring revenue.

“We are thrilled to partner with Team eSentire in the next phase of their growth journey,” Simon Chong, co-founder of Georgian, said in a statement. “eSentire has a well-documented history of making original threat discoveries and protecting its customers from ransomware battles and zero-day attacks.

Including the new funding, eSentire has raised $411.2 million to date, according to Crunchbase.

Image: eSentire