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eSentire

Security & Identity | Cambridge, ON | Founded: 2001 | Employees: 420 | www.esentire.com

PHONE: (519) 651-2200 | LINKEDIN PROFILEBLOOMBERG PROFILE | CRUNCHBASE PROFILE

Last updated November 5, 2018 | To download a PDF version, click here

Company Overview

eSentire® is a leading cyber-security company that provides (i) managed detection and response (MDR) services under the “behavioral detection” category, and (ii) advisory services on cyber-security-related matters (i.e., compliance). Founded in Cambridge, Ontario, in 2001 by Eldon Sprickerhoff, eSentire is headquartered in Cambridge with offices in both the USA and Europe. eSentire began operations serving the financial services industry and has expanded to support other sectors including insurance, legal, healthcare, biopharma, engineering, technology, manufacturing and government agencies.


Senior Management

Eldon Sprickerhoff: Founder and Chief Innovation Officer (2001-Present). Education: B.Math.Hons (1991), University of Waterloo.

Kerry Bailey: CEO (2018-Present). Previously: WW Channel Chief, Hewlett Packard Enterprise (2013-2017); President & CEO, Terremark (2007-2013); Senior Vice President, Cybertrust (2004-2007); CEO, Betrusted (2003-2004); CEO, Security Assurance Group (2003-2004); SVP Client Services, Digex (2002-2003); Director, BearingPoint (2001-2002); VP Client Services, USinternetworking, (1998-2001); Division Head, Office of Naval Intelligence ONNI (1986-1997). Education: BS Computer Science, Technology Management (1991), University of Maryland University College.

J.Paul Haynes: President & COO (2018-Present). Previously: CEO, eSentire (2010-2018); Owner, Open Systems Software Inc. (1992-Present); COO, Coreworx Inc. (2008-2010); CEO, Medshare (2007-2008); COO, Versa Systems Ltd. (2006); President & CEO, EVER America Corp. (2000-2006); President & CEO, JPH International Inc. (1993-2000). Education: B.Sc, M.Sc., Engineering, University of Guelph (1987); M.Sc., Engineering (1988).


History

eSentire was founded to address the demand for the detection and the prevention of information technology (IT) threats. In 2008 eSentire launched its first product, the Managed Security Service, then secured funding the following year to widen its product portfolio. Over the years eSentire grew geographically, opening offices in the US (New York) and Europe (London, UK; Cork, Ireland). CEO Kerry Bailey has publicly stated that eSentire’s goal is to become “a billion-dollar company”.[1]

[1] https://www.therecord.com/news-story/8133171-veteran-tech-executive-takes-over-as-ceo-of-esentire


Funding

eSentire raised a total of $146.5M throughout six funding rounds: $1M Federal Development Funding Loan from the Government of Canada (2011); $1M Series “A” Funding (2012); $11M Series “B” Funding (2013); $14M Series “C” Funding (2014); $19.5M in Total Funding (2016); $100M in 2017 from Warburg Pincus. Edison Partners, Georgian Partners, and Warburg Pincus were the leading investors in the different funding rounds.


Key Corporate Developments

2001: eSentire is founded
2008: Managed Security Service formally launched
2011: Received $1.0 million from the Federal Development Funding Loan from the Government of Canada.
2014: Opened sales offices in the UK and in the US
2017: The private equity arm of Warburg Pincus reportedly invested over $100 million in eSentire in August 2017 [2]
2018: Acquisition of Versive, a Seattle-based Artificial Intelligence firm

[2] https://www.esentire.com/news-and-events/press-releases/esentire-announces-growth-equity-investment-from-warburg-pincus

 

Business Highlights

Strategy

eSentire is the largest pure-play Managed Detection and Response (MDR) company, leveraging proprietary technology and highly trained security analysts to detect, investigate and rapidly resolve cyber threats in customers’ hybrid IT environment made up of networks, cloud and applications.


Products/Pricing

eSentire delivers security-as-a-service called Managed Detection and Response (MDR), backed by a 24x7 Security Operations Center (SOC), staffed by security analysts who respond in real-time to threats before they become business disrupting events. eSentire also provides advisory services in different fields to a wide range of industries. Details on pricing are not available. The product segmentation is shown below.

  1. Managed Detection and Response (MDR): MDR services allow organizations to add 24/7 dedicated threat monitoring, detection and response capabilities via a turnkey approach.
  • esNETWORK: is the primary MDR’s sensor. It both detects unknown threats and respond real-time to cyber-attacks (i.e., phishing) using advanced behavior-based anomaly detection;
  • esENDPOINT: secures each endpoint of the client’s computer networks. This product is powered by Carbon Black;
  • esRECON: scans all the client’s devices in order to detect existing cyber threats;
  • esLOG+: uses advanced analytics and cloud-computing to identify known and unknown cyber-security patterns. These data are then elaborated by the Security Operation Center (SOC) analysts, who provide the clients with insights about cyber-security threats that have bypassed security technologies.
  1. Advisory Services
  • Virtual CISO: identifies existing gaps in the client’s security infrastructure and builds a solution accordingly;
  • Vulnerability Management: aimed at identifying strength and weaknesses of current client’s security infrastructure through a combination of tech and human tools/expertise (i.e., the penetration testing);
  • Risk Assessment: identifies risks in four main areas: organizational, programmatic, human, and technical;
  • Compliance: aimed at meeting the regulatory cybersecurity requirements of the client’s industry.


Technology

eSentire combines cutting-edge cyber-security technologies with expert security analysts. The company makes primarily use of the following technologies: cloud-computing (in partnership with Densify, Cyxtera, SumoLogic), advanced analytics, forensic investigation tools, and AI-based behavioral detection tool.


Distribution/Logistics

eSentire’s headquarter is in Cambridge (Ontario, CA). The New York office is responsible for the US market. London (UK) hosts eSentire’s EMEA HQ; the company has an additional European operations centre located in Cork (Ireland).


Marketing

eSentire’s target customer is a mid-sized organization  operating across different business sectors, ranging from financial institutions to healthcare organizations.


Competitors

eSentire's competitors offering cyber-security-related products and services are:

  1. Darktrace: (Cambridge, UK). It offers a comprehensive AI-based cyber defense. Given its wide cyber-security services offer as well as its presence in both UK and US, Darktrace can be considered one of the most prominent eSentire’s competitor.
  2. Endgame: (Arlington, VA - 2008). Endgame provides an endpoint security platform, thus being a threat for the esENDPOINT product.
  3. Security Compass: (Toronto, ON - 2005). Security Compass mainly provides cyber-security advisory services, thus being a threat for the several advisory services offered by eSentire.

 


Corporate Profile Created By: Marco Campolo, Ivey HBA2 2018