Exabeam, under the leadership of Gareth Cox, Vice President for APJ, stands at the forefront of the cybersecurity industry. For nearly a decade, the company has been innovating within the security operations center space. "We've been disrupting that for around nine years," Cox states, emphasizing the company's growth and evolution. Initially perceived as a SIEM vendor, Exabeam's introduction of AI and machine learning analytics marked a significant shift in their approach, broadening their capabilities beyond traditional SIEM functions.
Cox elaborates on the company's trajectory, "When we first launched our platform out of stealth in 2015, we came out as a scene helper." This move, incorporating AI into their platforms, positioned Exabeam as a leader in the Magic Quadrant. Their unique selling point, as Cox highlights, is their ability to either augment any competitors in the quadrant or completely replace them, offering unparalleled flexibility to their clients.
Technological Advances: AI and Machine Learning
The core of Exabeam's offerings revolves around AI and machine learning. These technologies have been integral in their platform since 2015, focusing on modelling what is normal and what is abnormal to reduce noise for analysts. "We model every user and every single device," Cox explains. This approach has become more sophisticated with the introduction of generative AI, which has significantly advanced in the last six to seven months. The new generative AI capabilities are part of Exabeam's strategic initiatives, focusing on data onboarding and helping analysts comprehend evolving threat landscapes.
Exabeam's product development has been rapid and robust, with 10 major releases and over 400 new features in the last year. "Everything's as a service," Cox says, highlighting the SaaS model's adaptability. This rapid development cycle ensures that Exabeam stays ahead in a fast-paced industry, providing cutting-edge solutions to its clients.
Remote Operations and Cloud Adaptation
In the context of the increasing prevalence of remote work, Exabeam's solutions have become more relevant than ever. The company's SaaS solutions ensure that its services are accessible and adaptable for both hybrid and remote IT departments. "We're hosted on GCP," Cox notes, emphasizing the flexibility and reach of their services. This cloud-based approach is vital in today's distributed work environment, where traditional on-premises solutions may not suffice.
Exabeam is not just adapting to technological trends but also to market shifts. The company has been focusing on government organizations, enhancing their cloud-based solutions to meet the specific needs of this sector. This strategic focus is part of Exabeam's plan to leverage its advanced technology in new market segments.
Future Outlook and Competitive Edge
Looking ahead, 2024 promises to be a significant year for Exabeam. "Our new skills solution, our new TDIR, our new generative AI solution... we're in the box seat to really win a ton of business moving forward," Cox shares with enthusiasm. This forward-looking approach, combined with the company's focus on innovation, positions Exabeam uniquely in the cybersecurity landscape.
Exabeam's competitive edge, according to Cox, is its versatility. The company can augment existing security stacks or completely replace them, a capability unmatched in the industry. This flexibility, coupled with their focus on security outcomes and efficient data utilization, sets Exabeam apart. "We take a very unique approach on looking at security outcomes within an operation," Cox explains, highlighting their commitment to delivering practical and effective solutions.
Challenges and Opportunities in the Cybersecurity Landscape
Cox also sheds light on the key challenges and opportunities in the cybersecurity space. The COVID-19 pandemic has accelerated the adoption of cloud services, but not all these services are integrated into security operations. Exabeam addresses this gap by modelling user and device behaviour to identify abnormal activities, especially crucial in the context of increased supply chain attacks.
Credential-based attacks, as Cox points out, are a significant threat, constituting 93% of attacks, according to the Verizon data breach report. Exabeam excels in identifying these attacks, leveraging its AI and machine learning capabilities to detect abnormal activities once an adversary has infiltrated a system. This capability is critical in a landscape where traditional alert systems may not flag authenticated but malicious users.
Partnering for Success
Exabeam's channel strategy is another critical aspect of its success. The company works closely with tech alliances and integrates with key vendors in the XDR (Extended Detection and Response) space. "We're considered a SIEM, but we're also equally considered an open XDR solution," Cox states, underlining the company's adaptability and collaboration with other industry leaders. This approach allows Exabeam to offer more comprehensive solutions, integrating feeds and information from various sources to enhance their security models and rules.
Additionally, Exabeam focuses on partnering with managed service providers, recognizing that many customers in APAC and ANZ prefer a managed service for deploying and managing security solutions. "We're really focused on bringing those right type of partners onto our platform," Cox mentions, indicating a strategic approach to partnerships that enhance customer value.
As Exabeam gears up for the future, the excitement is palpable. The company's focus on AI, cloud-based solutions, and strategic partnerships positions it well to address the evolving challenges of cybersecurity. With its unique approach to security operations and its ability to innovate and adapt, Exabeam is not just a player in the cybersecurity field but a trailblazer, shaping the future of how businesses protect their digital assets.