Exabeam, a security information and event management (SIEM) platform provider, has named James Anderson as its area VP for EMEA channels.
Anderson is responsible for driving Exabeam's EMEA channel strategy -- spanning MSSPs, systems integrators (SI) and valued added reseller (VAR) partners. He will oversee the recruitment of new partners and Exabeam's expansion into new territories in the EMEA region.
Anderson has spent 15 years working at businesses across the IT channel. He has held multiple leadership positions focused on global MSP and distribution and channel strategy, Exabeam noted.
Previously, Anderson served as global MSP and distribution lead at Quest Software, which offers identity management, vulnerability detection and auditing and compliance solutions. In this role, Anderson was responsible for the company's MSP programs.
Anderson also spent eight years at IT asset and service management company Ivanti. Here, he led Ivanti's EMEA partner business and launched a new partner program.
Exabeam Preparing for IPO?
The Anderson hire comes after Exabeam in August 2021 hired former Forescout and McAfee executive Pedro Abreu as its COO. Abreu leads Exabeam's worldwide business operations, customer success and customer support teams.
In addition, Exabeam in June 2021 named Michael DeCesare (who also held roles at Forescout and McAfee) as its CEO. DeCesare succeeds CEO Nir Polak, who has remained with Exabeam as chairman.
DeCesare has IPO (initial public offering) experience, which has raised questions about whether an Exabeam IPO could be on the horizon. Meanwhile, Exabeam has a valuation of $2.4 billion following a $200 million Series F funding round in June 2021.
Furthermore, Exabeam looks poised to expand its partner program, which already includes more than 400 partners globally. It also could develop and launch new software integrations; more than 500 Exabeam integrations are currently available.
SIEM for MSSPs: Growing Cloud Competition
Exabeam is focused on a growth market -- but intense competition also looms. The SIEM market will reach $5.5 billion by 2025, up from $4.2 billion in 2020. That's a 5.5 percent compound annual growth rate (CAGR), according to Markets and Markets. Still, Technavio is more optimistic -- predicting a 12 percent CAGR from 2020 to 2024.
Much of the growth, predictably, will likely involve the shift from on-premises SIEM tools to cloud-based offerings -- where channel-related competition is ramping quickly. For instance:
- LogPoint acquired SIEM provider SecBI earlier today.
- Blumira raised $10.3 million to build a cloud SIEM partner program for MSPs in August 2021.
- SUMO Logic launched a successful IPO in early 2021 and has been building relationships with MSSPs.
- Also, Google Chronicle and Microsoft Azure Sentinel are gaining momentum with some MSSPs. Moreover, nearly 70 MSSPs have joined the Microsoft Intelligent Security Association as of August 2021.
Additional insights from Joe Panettieri.