Exabeam acquires Israeli startup SkyFormation to bolster its cloud security solutions
Exabeam, a big data security analytics startup that simplifies security operations and changes the way cyberattacks are detected, has acquired SkyFormation, a leading Israel-based cloud application security business and the first company to collect cloud logs from over 30 cloud services into any security information and event management (SIEM) tool. The total amount of the deal was not disclosed. As Exabeam’s first acquisition and following its recent $75 million Series E funding round, the investment will enable Exabeam to establish an office in Israel, provide access to talent and help more customers move their businesses, and their security, to the cloud.
Founded in 2014 by Asaf Barkan (CEO), Uri Ben-dor (CTO) and Nadav Lavy (Principal Engineer), SkyFormation provides cloud application security for business organizations. The startup allows organizations to reliably collect logs from over 30 cloud services into Exabeam Data Lake, Exabeam Advanced Analytics or any other SIEM. Updates are made automatically whenever there are API changes, so security teams don’t need coding skills or costly professional services engagements to ensure the right data is being collected.
Security teams can extend the use of behavioral analytics to detect attacker tactics, techniques and procedures and maintain regulatory compliance in the cloud. Logs can be collected from AWS, GitHub, Google, Microsoft Office 365, Salesforce and many other security, identity and access management, infrastructure and business applications.
The acquisition follows the launch of Exabeam SaaS Cloud in February 2019 and the company’s first cloud security service, Exabeam Threat Intelligence Service, in September 2018. It builds on an existing OEM relationship that has seen a significant number of Exabeam’s largest customers purchase Exabeam Cloud Connectors.
By establishing an office in Israel based around the SkyFormation team, Exabeam will gain access to talent in a premier location for cybersecurity expertise. Exabeam’s expansion to Israel builds on its opening of other offices in Atlanta, London and Singapore earlier this year.
Nir Polak, co-founder and CEO of Exabeam commented, “We are very excited to welcome the entire SkyFormation team and its partners to Exabeam. Exabeam customers have long been able to use the SkyFormation platform as part of our solution, but this acquisition means other organizations will now be able to augment their SIEM with Cloud Connectors to modernize their security operations. I look forward to growing our new Israel office.”
Asaf Barkan, co-founder and CEO of SkyFormation commented, “This announcement is great news for the SkyFormation team, for Exabeam and for every customer that will now be able to benefit from our combined security portfolio. It’s exciting to be joining a global leader in SIEM, and to help Exabeam’s customers secure their applications as they move to the cloud.”