ExtraHop Networks

Overview

ExtraHop Networks is a leading cybersecurity company specializing in cloud-native network detection and response solutions. Founded in 2007 by Jesse Rothstein and Raja Mukerji, the company is headquartered in Seattle, Washington. ExtraHop has raised approximately $162 million to date, including a recent $100 million growth capital round in January 2024. The company focuses on providing real-time visibility and security analytics solutions to protect enterprise networks from cyber threats.

Recent Developments

January 2024: ExtraHop secured $100 million in growth capital from existing investors, marking a significant milestone in its continued expansion and innovation efforts. This funding is part of a broader strategy to scale operations and enhance its Reveal(x) platform.
2023: ExtraHop achieved notable industry recognition, winning the Best AI-based Solution for CyberSecurity award at the 2023 AI Breakthrough Awards. This accolade reflects the company's leadership in utilizing artificial intelligence for enhancing cybersecurity measures.
May 2024: ExtraHop expanded its integration with CrowdStrike Falcon, embedding CrowdStrike Intelligence into the Reveal(x) platform, underscoring the firm's emphasis on building strategic partnerships.
July 2023: The company launched the ExtraHop Zero Trust Extension for Netskope, enhancing network visibility and security by offering comprehensive insights into network communications across multiple environments.
April 2024: ExtraHop was recognized by Gartner as having the second largest market share in the NDR segment according to the 2024 Gartner Enterprise Network Equipment Market Report.
Leadership Changes: In early 2024, Greg Clark, Managing Partner at Crosspoint Capital, was appointed CEO of ExtraHop, succeeding interim leadership as part of the company's strategic leadership realignment.

Attribute	Information
Founding Date	2007
Headquarters	Seattle, Washington, USA
Founders	Jesse Rothstein, Raja Mukerji
Revenue	$200 million (as of 2023)
Profits	Not publicly disclosed
Key Investors	Bain Capital, Crosspoint Capital
Industry	Cybersecurity
Number of Employees	724

Early History

ExtraHop Networks was founded in 2007 in Seattle, Washington, by Jesse Rothstein and Raja Mukerji, both former Senior Software Architects at F5 Networks. Their experience at F5 involved transforming load balancers into application delivery controllers, which laid the groundwork for ExtraHop's focus on network visibility solutions. Initially, the company concentrated on providing IT operations analytics before expanding into the cybersecurity domain. In 2011, ExtraHop secured $14 million in Series B funding from investors like Meritech Capital and Madrona Venture Group, fueling its growth and capability enhancements.

Company Profile and Achievements

ExtraHop Networks offers comprehensive solutions that leverage AI and machine learning for network detection and response (NDR). The ExtraHop Reveal(x) platform provides real-time visibility into network traffic, aiding organizations in detecting, investigating, and mitigating cyber threats. Key achievements and initiatives include:

Reveal(x) Platform Launch: Introduced sophisticated network analytics to monitor and secure both cloud and on-premises environments.
Partnership with CrowdStrike: Strengthened its market position by integrating advanced threat intelligence from CrowdStrike into its offerings.
Recognition by Analysts: Consistently acknowledged by industry analysts and award bodies for its innovation and effectiveness in network security.
Market Growth: Established a significant presence in the NDR market, reflected in its growing revenue and user base.
Customer Base Expansion: Serves over 1,000 enterprise customers, including notable organizations like The Home Depot and Seattle Children’s.

Current Operations and Market Position

ExtraHop Networks operates primarily in the network security services sector. The company’s Reveal(x) platform offers a robust NDR solution that provides extensive network visibility and real-time threat detection capabilities. ExtraHop positions itself competitively by offering integration capabilities with leading cybersecurity platforms, bolstering its market presence. The company has maintained a strong market position, ranking as the second-largest holder of market share in the Gartner 2024 NDR report. This is complemented by strategic investments in technology development and leadership talent to drive further growth.

ExtraHop Networks CEO

Greg Clark, the CEO of ExtraHop Networks, took the helm in October 2023. He is instrumental in guiding the company’s strategic direction and fostering innovation in cybersecurity solutions. Clark's leadership is focused on scaling ExtraHop's operations and amplifying its market reach through strategic partnerships and enhanced product offerings.

ExtraHop Products

ExtraHop's product portfolio is centered around the Reveal(x) NDR platform, which provides comprehensive network visibility and security threat detection. Reveal(x) utilizes AI and machine learning to analyze network traffic, identify anomalies, and assist in preemptively mitigating potential security threats. The platform has been recognized for its effectiveness in enhancing cybersecurity posture across enterprise environments.

Conclusion

ExtraHop Networks has established itself as a pivotal player in the cybersecurity industry, particularly in the network detection and response segment. Through continuous innovation and strategic partnerships, the company is well-positioned to expand its influence and address the growing demand for advanced cybersecurity solutions. With its robust financial health and leadership team, ExtraHop is poised to contribute significantly to the evolving landscape of network security technologies in the coming years.