Expel

Expel is a managed detection and response (MDR) provider. The company offers a security operations center (SOC) as-a-service with 24x7 monitoring and response for cloud, on-premises, and software-as-a-service (SaaS) environments. As of April 2021, the company’s MDR platform had over 54 native integrations with commonly used endpoint, network and security information and event management (SIEM) tools, cloud services, and SaaS applications.

In January 2020, the company announced a USD 1.4 million headquarters expansion which is expected to add 164 new jobs by 2023. The company employed 221 staff as of April 2021. Expel’s investment in automation helped the company improve its security operations center’s (SOC) analyst effectiveness by 260%, with an 80+ Net Promoter Score (NPS) rating. As of November 2021, the company had doubled its technology partner base since 2019 and had 45 solution provider partners. Expel also reported over a two-fold increase in the number of security investigations and experienced an 82% increase in security events handled per day. Expel’s customers include Delta Air Lines, DoorDash, Esri, GreenSky, CDW, Hogan Lovells International, and Better Holdco.

In November 2021, the company raised USD 140.3 million in a Series E funding round at a valuation of over USD 1 billion, co-led by repeat lead investors CapitalG (Alphabet’s independent growth fund) and Paladin Capital Group. CapitalG led Expel’s Series D round in 2020, while Paladin Capital Group led its Series A in 2016. The company will utilize the funds for R&D, to launch new capabilities, drive sales and go-to-market efforts, expand partnerships and business operations, and accelerate international expansion by establishing a physical presence in Europe and Asia-Pacific in 2022.