MDR firm eSentire raises $47 million, plans to open new HQ in Waterloo

Cybersecurity firm eSentire is making moves.

The Cambridge, Ont.-based company announced $47 million USD in funding led by global private equity firm Warburg Pincus and minority investors Georgian Partners and Edison Partners. In addition to innovating its managed detection and response (MDR) portfolio and developing proprietary AI for threat hunting and advanced automation, a spokesperson for eSentire confirmed that some of that money will go towards the opening of a new 65,000 square-foot global headquarters in Waterloo. The new office – which was occupied by BlackBerry years ago – is double the current 33,000 square-foot space eSentire occupies in Cambridge, and will also include a Security Operations Centre that the company says will help attract new staff to help develop AI and machine learning technology. It will also serve as a catalyst for expansion into Europe, according to James Yersh, chief administrative officer for eSentire.

“It’s an exciting time to be in the cybersecurity field, and it’s particularly exciting to be located in a region of Canada that is really embracing and supporting technological innovation,” he said in a statement. “We’ve got an innovative solution that companies need, and we have a great opportunity to capitalize on this as we continue to evolve our solution to meet global cybersecurity needs.”

But the news doesn’t stop there. eSentire also announced the launch of a new SaaS application called esInsider, a cloud-based AI engine – available for on-premises and hybrid cloud environments – that sniffs out sophisticated threats which go unnoticed in network noise.

“Traditional security approaches have long struggled with detecting insider and ongoing threat campaigns as they overemphasize prevention of initial access,” said Ashley Fidler, chief product officer for eSentire. “They also often process events and alerts as discrete incidents, leaving threats to go unnoticed for long periods of time. By applying our AI engine to surface unavoidable adversary behaviors, we can detect hidden threats that exist in networks and provide our security experts with the information needed to disrupt these sophisticated threats before they impact our customers’ businesses.”

Lastly, eSentire is also partnering with Chronicle, a new Alphabet company, focused entirely on enterprise cyber security announced this week at RSA conference in San Francisco. The partnership will see eSentire lend its managed services to Chronicle’s Backstory platform, a new global security telemetry platform designed to help enterprise customers analyze the massive amounts of security telemetry they generate every year.

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Alex Coop
Alex Coop
Former Editorial Director for IT World Canada and its sister publications.

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