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MDR Vendor eSentire Banks $325M at 'Unicorn' Valuation

Canadian cybersecurity vendor eSentire has scored $325 million in new financing at a heady valuation north of a billion dollars.

The Warburg Pincus-backed company, which sells MDR (managed detection and response) services globally, said the so-called “unicorn” valuation comes amidst increasing enterprise demand for its threat response and risk management software.

The new funding brings the total raised by the Waterloo-based eSentire to $411 million and comes as the company is boasting about surpassing $100 million in annual recurring revenue (ARR).

[ READ: What's Behind the Surge in Cybersecurity Unicorns? ]

eSentire hawks threat response protection in the MDR category and said the new funding will be used to support geographic expansion and build out its newer eSentire’s Atlas XDR SaaS offering.

The $325 million funding round was led by Georgian and Caisse de dépot et placement du Québec (CDPQ). The company said Warburg Pincus remains its majority shareholder.

The company said it is currently providing managed detection and response services to more than 1200 organizations in 75 countries.

Related: MDR Company Expel Raises $140 Million at Unicorn Valuation

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Related: MDR Provider GoSecure Raises $35 Million

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Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. Ryan is a veteran cybersecurity strategist who has built security engagement programs at major global brands, including Intel Corp., Bishop Fox and GReAT. He is a co-founder of Threatpost and the global SAS conference series. Ryan's past career as a security journalist included bylines at major technology publications including Ziff Davis eWEEK, CBS Interactive's ZDNet, PCMag and PC World. Ryan is a director of the Security Tinkerers non-profit, an advisor to early-stage entrepreneurs, and a regular speaker at security conferences around the world. Follow Ryan on Twitter @ryanaraine.