(Photo via @expel_io on Twitter)
Herndon, Virginia-based cybersecurity company Expel Inc. has closed a $50 million Series D funding round.
Founded in 2016, Expel provides a security operations platform as a service to companies looking to better protect their networks. The company was cofounded by former Mandiant CTO Dave Merkel, who now leads Expel as CEO.
“As we set out to create Expel, we wanted to build something that would let security teams everywhere stop playing a game of alert whack-a-mole and focus on managing the risks unique to their business,” Merkel said in a statement. “CISOs deserve a security partner that not only helps them reduce their organization’s risk, but gives them more space to focus on other things.”
This latest funding round was led by Alphabet’s independent growth fund, CapitalG, with participation from existing investors. Expel has raised $117.5 million to date, including a $20 million Series B back in April 2018. The company’s cofounders, Merkel, Yanek Korff and Justin Bajko, shared the news in a blog post, where it also addresses the uncertain time due to the COVID-19 pandemic.
“We’re thankful that we get to continue on our journey to change the face of managed security — taking great care of our customers and our own crew along the way,” the company wrote. “And while we’re celebrating this news because it’s good for the businesses we help protect every day and the employees who’ve joined us on this journey, celebrating while there’s an incredible amount of uncertainty in the world feels a bit uncomfortable.”
Expel plans to use the fresh funding to grow its sales and marketing operations, further invest in its cloud security offerings and pursue international growth opportunities. CapitalG General Partner Gene Frantz has also joined the company’s board.
The Series D comes after the company announced back in January that it plans to expand its office space to add 164 new jobs in the next three years, the Washington Business Journal reported. Expel has 189 employees, with eight open positions listed on its website across its sales, marketing, engineering and customer experience teams.
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