# Expanse

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/expanse

- Industry: IT Security/Cybersecurity
- Headquarters: San Francisco, US
- Website: www.expanse.co
- Total disclosed funding: $139M
- Latest round: Series C (Aug 2, 2019)
- Investors on record: 8

## About

Expanse, Inc. is an innovative cybersecurity firm specializing in attack surface management solutions. The company provides a proactive approach to identifying and mitigating vulnerabilities across connected systems and exposed services.Founded in 2012 and headquartered in San Francisco, US, Expanse, Inc. operates within the cybersecurity space, focusing on attack surface management. The company was acquired by Palo Alto Networks, Inc. in December 2020 for approximately USD 670 mn in cash and USD 130 mn in replacement equity awards. The acquisition followed a series of six deals with the most recent deal dated November 11, 2020. The CEO is Joel Neto, alongside Ricardo D'acunto, with Severin Kistner as a notable founder in the company's inception.Expanse, Inc. offers a robust cybersecurity solution through its flagship product, Cortex Xpanse, which provides comprehensive attack surface management (ASM). This solution actively monitors the internet for vulnerabilities, enabling organizations to swiftly identify and address risks, which is particularly crucial for enterprises adapting to hybrid work environments. The company serves a variety of sectors including finance, healthcare, and government agencies, with significant utilization among branches of the U.S. military. Their solutions are marketed globally, emphasizing key markets in North America, Europe, and Asia-Pacific.The company operates on a subscription-based revenue model, delivering ongoing services and updates for its cybersecurity products, particularly Cortex Xpanse. Clients engage in annual contracts, ensuring continuous access to the latest security features and threat intelligence, which fosters long-term partnerships. While specific pricing structures remain proprietary, the tiered subscription model aligns with the varying needs of organizations, supporting both B2B relationships and direct customer engagements.Expanse, Inc. plans to leverage recent funding from its acquisition by Palo Alto Networks to enhance its product offerings and expand into new geographic markets. The company is focused on developing new products designed to address emerging cybersecurity threats, with a roadmap for product launches in the next fiscal year. Additionally, the firm aims to increase its market presence in Europe and Asia-Pacific by the end of 2022, utilizing the resources from the USD 800 mn raised through the Trade Sale to bolster its expansion efforts.

## Funding rounds

- Series C, Aug 2, 2019, $40M — Institutional Venture Partners, New Enterprise Associates, TPG, BDT & MSD Partners
- Series C, Apr 1, 2019, $30M — Institutional Venture Partners, New Enterprise Associates, TPG, Founders Fund, BDT & MSD Partners
- Series B, Aug 31, 2017, $40M — Institutional Venture Partners, New Enterprise Associates, TPG, Founders Fund, Susa Ventures
- Series A, May 20, 2016, $23M — New Enterprise Associates, Founders Fund, Indie Enterprises
- Seed, Aug 20, 2015, $6M — Founders Fund, Indie Enterprises, Susa Ventures, Knoll Ventures

## Investors

- Founders Fund (https://capitalatlas.ai/funds/founders-fund) — Seed, Series A, Series B, Series C
- Indie Enterprises (https://capitalatlas.ai/funds/indie-enterprises) — Seed, Series A
- Susa Ventures (https://capitalatlas.ai/funds/susa-ventures) — Seed, Series B
- Knoll Ventures (https://capitalatlas.ai/funds/knoll-ventures) — Seed
- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series A, Series B, Series C
- Institutional Venture Partners (https://capitalatlas.ai/funds/institutional-venture-partners) — Series B, Series C
- TPG (https://capitalatlas.ai/funds/tpg) — Series B, Series C
- BDT & MSD Partners (https://capitalatlas.ai/funds/bdt-msd-partners) — Series C