Recognition for Expel’s 12,858% revenue growth comes on the heels of its Series E fundraise and over $1B valuation
Following the announcement of its $140.3 million Series E fundraise and over $1B valuation, Expel, the managed detection and response (MDR) provider that aims to make great security as accessible as the internet, announced that it ranked number 18 on the 2021 Deloitte Technology Fast 500™. The Deloitte Technology Fast 500, now in its 27th year, is a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. Expel achieved 12,858 percent revenue growth during the period under consideration, FY2017 to FY2020.
“Our growth over the past several years is a testament to the work and passion of our talented team and the trust put in us by our customers, partners and investors,” said Dave Merkel, CEO of Expel. “Our team focused their time and effort on improving how we help our customers manage their security in a constantly changing field, even during the unexpected challenges of a global pandemic. We nearly doubled our platform’s capacity to handle security events, grew the number of technology partners we support and more than doubled the number of investigations our security operations center (SOC) can handle. As a result, we can do more to help our customers navigate shifting security environments and manage emerging threats, and that has driven the growth that landed us on the Fast 500.”
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“We started Expel to create space for people to do what they love by providing unexpectedly simple security”
Expel is an MDR provider that gives customers 24×7 coverage for everything from cloud applications and infrastructure to networks and endpoints. By understanding and adapting to each customer’s unique environment, Expel finds gaps in current coverage and closes them with its own detections. Expel’s automation-forward approach accelerates response and remediation times while scaling quality.
“We started Expel to create space for people to do what they love by providing unexpectedly simple security,” said Yanek Korff, COO of Expel. “Landing on the Fast 500 list shows that we’re doing something right. Organizations aren’t interested in black box solutions anymore and we’re seeing our transparent, technology-enabled approach truly resonate with our customers. But growth comes with risks, too — many organizations suffer in quality as they try to keep up with scale. The dedication of our team, strong belief from our investors and our extensive investment in technology have made it possible to maintain exceptional quality and customer satisfaction throughout. To our community of Expletives, customers, partners and investors — thank you for your support. You made this possible.”
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Deloitte Technology Fast 500 award winners were selected based on percentage fiscal year revenue growth from 2017 to 2020. Overall, 2021 Technology Fast 500™ companies achieved revenue growth ranging from 212% to 87,037% from 2017 to 2020, with median growth of 521%.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
