Photo: Thomas Trutschel/Photothek via Getty Images

Exabeam, a security information and event management (SIEM) cybersecurity firm headquartered in San Mateo, California, announced Tuesday it has raised $50 million in Series D funding.

Why it matters: Cybersecurity officers and leadership at companies experiencing cyberattacks, malware incidents, or data breaches need to be able to tell their board what happened — and fast. SIEM tools help that to happen and will only become more necessary for Corporate America as cyberattacks become more and more frequent.

The details: Exabeam, which uses machine learning and user behavior to try and secure companies, will use the new funds for its cloud portfolio, sales, and global expansion. It already operates in North America, Europe, the Middle East, Africa, and Asia, per The Silicon Review.

  • The series was led by Lightspeed Venture Partners, the firm behind Snap’s IPO. Others investing in this round include Aspect Ventures, Cisco Investments, Icon Ventures, Norwest Venture Partners and investor Shlomo Kramer. They’re all existing investors.

The market: Gartner predicts that spending on SIEM tech will rise to $3.4 billion by 2021.

  • It’s not a zero sum game as organizations sometimes use a few SIEM tools from different companies to optimize for different capabilities, like logging versus quick detection, per CSO.

Go deeper

Senate advances Amy Coney Barrett nomination, setting up final confirmation vote

Photo: Xinhua/Ting Shen via Getty Images

The Senate voted 51-48 on Sunday to advance the Supreme Court nomination of Judge Amy Coney Barrett, setting up a final confirmation vote for Monday.

Why it matters: It's now virtually inevitable that the Senate will vote to confirm President Trump's third Supreme Court nominee before the election, which is just nine days away.

Felix Salmon, author of Capital
2 hours ago - Economy & Business

Wall Street is living up to its bad reputation

Illustration: Sarah Grillo/Axios

Recent headlines will have you convinced that Wall Street is hell-bent on living up to all of its stereotypes.

Driving the news: Goldman Sachs is the biggest and the boldest, paying more than $5 billion in fines in the wake of the 1MDB scandal, in which billions were stolen from the people of Malaysia.

2 hours ago - Health

Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk

Former FDA commissioner Scott Gottlieb said "the short answer is yes" when asked whether Vice President Mike Pence is putting others at risk by continuing to campaign after several aides tested positive for COVID-19, stressing that the White House needs to be "very explicit about the risks that they're taking."

Why it matters: The New York Times reports that at least five members of Pence's inner circle, including his chief of staff Marc Short and outside adviser Marty Obst, have tested positive for the virus. Pence tested negative on Sunday morning, according to the VP's office, and he'll continue to travel for the final stretch of the 2020 campaign.