ExtraHop Networks Acquisition, Valuation, Funding & Investors

ExtraHop Networks was acquired by Bain Capital and Crosspoint Capital Partners for $900M in June 2021, a 5.8x multiple on $154M of revenue.

ExtraHop Networks acquisition price

$900M

Acquired by Bain Capital, Crosspoint Capital Partners · Jun 2021

ExtraHop Networks revenue at acquisition

$154M

Last twelve months · Jun 2021

ExtraHop Networks revenue multiple at acquisition

5.8x

EV/Revenue · Jun 2021

Cumulative funding ExtraHop Networks raised

$141M

across 2 funding rounds

ExtraHop Networks Overview

About ExtraHop Networks

ExtraHop Networks is a Seattle-headquartered provider of wire data analytics platforms for cybersecurity and network performance monitoring. Founded in 2008, Reveal(x) processes 10 petabytes daily across on-premises, cloud, and hybrid environments, decrypting SSL/TLS traffic for threat detection. Enterprises like Barclays and Lufthansa use it to identify ransomware and data exfiltration in real time.


Founded

2007

HQ

United StatesSeattle, WA

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Revenue

$200M (Jan 2024)

Valuation

$1B (Jan 2024)

ExtraHop Networks Acquisition

ExtraHop Networks was acquired by Bain Capital and Crosspoint Capital Partners for $900M on 8 June 2021.

The acquisition price implies a 5.8x revenue multiple on $154M of revenue.

Before the acquisition ExtraHop Networks had raised $141M across 2 funding rounds.

ExtraHop Networks acquisition details
AcquirerDateTypePriceEV/Revenue
  • Bain Capital
  • Crosspoint Capital Partners
8 Jun 2021PE buyout$900M5.8x

ExtraHop Networks Valuation

ExtraHop Networks is currently valued at $1B, based on its undisclosed-stage round in January 2024.

ExtraHop Networks valuation by funding round

ExtraHop Networks valuation by funding round
DateStageValuationRevenue Multiple
Jan 2024Undisclosed stage$1B5.0x

ExtraHop Networks Revenue

ExtraHop Networks' latest recorded revenue is $200M, as of its undisclosed-stage round in January 2024. At a $1B valuation, that implies a 5.0x revenue multiple.

ExtraHop Networks revenue by funding round

ExtraHop Networks revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jan 2024$200M$1B5.0xUndisclosed stage

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

ExtraHop Networks Funding History

ExtraHop Networks has raised a total of $141M across 2 funding rounds.

ExtraHop Networks' first fundraising round was a $41M Series C in May 2014. The most recent completed round was a $100M undisclosed-stage round in January 2024.

ExtraHop Networks funding rounds

ExtraHop Networks funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2024Undisclosed stage-$100M$1BExtraHop Networks, founded in 2007 and headquartered in Seattle, WA, develops a cloud-native network detection and response (NDR) platform called Reveal(x). The platform provides 360-degree visibility into networks, automatically discovers devices, detects late-stage attacks using machine learning, and enables rapid threat remediation. It has gained traction through innovations like open-sourcing a dataset against domain-generated algorithms (DGAs) and integrations with partners such as CrowdStrike Falcon Intelligence. Recognized as a Leader in The Forrester Wave™: Network Analysis And Visibility, Q2 2023, and winner of the 2023 Best AI-based Solution for CyberSecurity award, ExtraHop serves the cybersecurity market amid rising demand for advanced threat detection. On January 9, 2024, ExtraHop secured $100 million in growth capital from existing investors, including Crosspoint Capital Partners (where CEO Greg Clark is also a managing partner), in a transaction expected to close early 2024. This private equity/growth round follows ExtraHop's 2021 acquisition by Bain Capital Private Equity and Crosspoint for $900 million (June 2021 valuation). The new funds aim to accelerate product development, expand the team (over 700 employees), scale global operations, and enhance technology to combat modern cyber threats. The investment coincides with strong performance: ExtraHop ended 2023 with approximately $200 million in annual recurring revenue (ARR), doubling over the last few years, driven by new customer wins, product innovation, and strategic partnerships. The company added cybersecurity veterans Marc Andrews as chief revenue officer (ex-Symantec, Blue Coat) and Kanaiya Vasani as chief product officer (ex-Infoblox) to support expansion. Positioned in the competitive cybersecurity landscape, ExtraHop focuses on NDR as a critical stack component for anomaly detection, vulnerability identification, and security recommendations via cloud-scale ML and rules-based techniques. With over 600-700 employees and plans for 2024 market expansion, the funding underscores investor confidence in its growth trajectory post-acquisition.
May 2014Series CTCV (lead); Employee Stock Option Fund; Madrona; Sujal Patel; Meritech Capital Partners$41M-ExtraHop Networks, founded by former F5 Networks architects Jesse Rothstein and Raja Mukerji, provides real-time wire data analytics for IT operational intelligence, analyzing data directly off the network wire without server-side profilers. This enables monitoring of databases, telecom networks, and more, with appliances handling up to 20Gbps throughput and virtual options for cloud environments like AWS. Customers include Lockheed Martin, Concur, and Morgan Stanley. On May 29, 2014, ExtraHop closed a $41 million Series C funding round led by TCV, with participation from existing investors Meritech Capital Partners and Madrona Venture Group, as well as private investors including Sujal Patel, former CEO of Isilon Systems. TCV's Ted Coons (also referred to as Tod Coons) joined the board. This round brought total venture funding to $61.6 million. Funds were allocated to establish the IT Operations Analytics category, innovate on the Wire Data Analytics platform, and expand geographically. ExtraHop positioned itself against competitors by leveraging wire-level data for sophisticated analysis unattainable by server-based tools. Later developments include a 2021 acquisition by Bain Capital Private Equity and Crosspoint Capital Partners for $900 million and a 2024 Series F at $1B valuation, but these are unrelated to the 2014 round.

Who has invested in ExtraHop Networks?

5 investors have backed ExtraHop Networks across its funding rounds, including Madrona, TCV, Meritech Capital Partners, Employee Stock Option Fund and Sujal Patel.

Lead investors include TCV.


ExtraHop Networks Investors

Investors in ExtraHop Networks by funding rounds participated
InvestorHQRoundsRoleFirst check
TCVUnited StatesSan Francisco, CA1LeadMay 2014
Employee Stock Option FundUnited StatesSan Francisco, CA1ParticipantMay 2014
MadronaUnited StatesSeattle, WA1ParticipantMay 2014

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ExtraHop Networks Competitors

ExtraHop Networks competitors include listed companies like Red Violet and NSFOCUS, and private ones like SecurityScorecard, Aikido Security, Aqua Security and BigID.

Public and private companies comparable to ExtraHop Networks
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SecurityScorecardUnited StatesNew York City, NYPrivate--$900M-
Red VioletUnited StatesUnited StatesPublicly listed$90M$24M$1.2B11.7x
Aikido SecurityBelgiumGhentPrivate$13M-$1B76.9x
Aqua SecurityIsraelRamat GanPrivate--$1B-
BigIDUnited StatesNew York City, NYPrivate$100M-$1B10.0x
NSFOCUSChinaChinaPublicly listed$379M$37M$955M2.4x

ExtraHop Networks Public Comps

ExtraHop Networks is no longer listed, but its public comps include NSFOCUS, BeiJing Certificate, Beijing Join-Cheer, Yubico, Rapid7, Riskified, Clarivate, Asiainfo Security, Mitek Systems and Eastcompeace Tech.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
NSFOCUS$379M$37M2.6x2.4x26.1x25.6x
BeiJing Certificate$125M($12M)6.7x-(70.9x)-
Beijing Join-Cheer$386M$11M1.9x-68.9x-
Yubico$226M$19M3.3x3.2x39.7x25.6x
Rapid7$860M$63M1.3x1.3x17.4x6.8x
Riskified$345M($31M)1.8x1.6x(20.3x)19.0x
Clarivate$2.5B$829M2.1x2.2x6.3x5.3x
Asiainfo Security$1.2B($11M)1.2x1.1x(126.2x)339.7x

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Common questions about ExtraHop Networks

When was ExtraHop Networks founded?ExtraHop Networks was founded in 2007.
Where is ExtraHop Networks headquartered?ExtraHop Networks is headquartered in Seattle, WA, United States.
Is ExtraHop Networks publicly listed?No, ExtraHop Networks was acquired by Bain Capital and Crosspoint Capital Partners in June 2021.
Who acquired ExtraHop Networks?ExtraHop Networks was acquired by Bain Capital and Crosspoint Capital Partners in June 2021.
How much was ExtraHop Networks acquired for?ExtraHop Networks was acquired for $900M in June 2021, a 5.8x revenue multiple.
What is ExtraHop Networks' valuation?ExtraHop Networks was last valued at $1B in its undisclosed-stage round in January 2024.
How much funding has ExtraHop Networks raised?ExtraHop Networks has raised $141M across 2 funding rounds.
What was ExtraHop Networks' last funding round?ExtraHop Networks' last funding round was a $100M undisclosed-stage round in January 2024.
Who are ExtraHop Networks' investors?ExtraHop Networks' investors include TCV, Employee Stock Option Fund, Madrona, Sujal Patel and Meritech Capital Partners.
What is ExtraHop Networks' revenue?ExtraHop Networks' latest recorded revenue is $200M (January 2024).
What is ExtraHop Networks' revenue multiple?ExtraHop Networks' latest valuation implies a 5.0x revenue multiple ($1B valuation on $200M of revenue).
Which companies are comparable to ExtraHop Networks?Companies comparable to ExtraHop Networks include SecurityScorecard, Red Violet, Aikido Security, Aqua Security, BigID and NSFOCUS.

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