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.
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