ExtraHop Grows Annual Recurring Revenue by 47%, Names Patrick Dennis Chief Executive Officer. Seasoned Executive Brings Deep Experience in Enterprise and Cybersecurity, Sets Sights on Hyper-Growth and Continued Innovation to Stop Advanced Cybersecurity Attacks.
ExtraHop, the leader in cloud-native network detection and response, today announced that Patrick Dennis has been named the company’s Chief Executive Officer. Dennis’ appointment follows outgoing CEO Arif Kareem’s decision to retire. Dennis will work alongside the ExtraHop executive leadership team to increase the company’s current momentum and accelerate its mission to stop advanced threats.
Dennis’ appointment follows a record-setting year for ExtraHop. In 2021, the company grew annual recurring revenue (ARR) by 47% to nearly $140 million, spurred by 54% year-over-year growth in new customer acquisition and rapid adoption of its Reveal(x) 360 SaaS offering. ExtraHop also experienced 44% growth internationally, with an expanding footprint in strategic markets including Japan, Germany, Australia, and the Middle East.
"While cybersecurity technologies have evolved over the past decade, they have not kept up with the speed and impact of modern threats like double-extortion ransomware and software supply chain attacks," said Dennis. "A new layer of defense is required to stop attackers that have infiltrated the enterprise. ExtraHop has pioneered an approach that provides universal visibility, understands attacker behavior, and stops post-compromise activity before it can lead to a damaging breach. ExtraHop’s innovation, team, and culture are second to none and I’m excited to lead this next stage of growth for the company.”
Dennis has nearly 25 years of experience leading high-growth public and private companies in the security and information technology markets including CEO roles at Guidance Software and Alvaria, and leadership positions at EMC and Oracle. His vision and leadership have helped companies like ExtraHop achieve multi-year growth through strategic product investments, international expansion, and a customer-centric approach.
As ExtraHop CEO, Dennis will work closely with company leadership, including co-founders Jesse Rothstein and Raja Mukerji, as well as the Board of Directors, to accelerate key strategic priorities for the business, including growth in the enterprise segment and internationally. Under his leadership, the company also plans to expand its innovation in cloud security to provide universal visibility and advanced threat defense for cloud workloads.
“From the beginning, my co-founder, Raja Mukerji, and I have worked to build a company that not only meets, but anticipates the needs of our customers,” said Jesse Rothstein, co-founder and CTO at ExtraHop. “Raja and I look forward to working with Patrick as we continue our mission to help our customers defend against the most advanced threats.”
"Patrick’s deep experience leading public and private companies in cybersecurity, combined with his customer-focused approach to leadership, make him a natural fit for ExtraHop," said Marisa Femenia, Board Member and Operating Partner at Bain Capital Private Equity. “His expertise in growth acceleration, combined with ExtraHop’s technical superiority in the market, sets the stage for a truly exciting period for the company.”
??"As companies grapple with a growing attack surface both in the cloud and on premises, keeping vigilant on what is happening throughout an organization’s network is critical to preventing an intrusion from becoming a breach," said Samir Kapuria, Board Member and Managing Director at Crosspoint Capital Partners. "ExtraHop’s leading technology was purpose-built to address this challenge, helping organizations detect and respond to attackers inside. This innovative approach fueled outstanding business performance in 2021 and on behalf of the Board, I want to thank Arif and the entire ExtraHop team for their commitment to advancing the art of cyber defense. ExtraHop is poised to extend its leadership in cybersecurity, and Patrick’s experience and expertise, combined with the mission-driven ethos he shares with ExtraHop, set the foundation for great success in the next chapter."