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Apr 09, 2019
Expanse Announces $70 Million Series C Funding, Led by TPG Growth

Company’s explosive growth includes over $100 million in federal  contracts across all military services, multiple Fortune 10 customers, and  tripled sales year-over-year since launch

San  Francisco, CA - April 9, 2019 - Expanse, an Internet  information technology (IT) operations management platform, announced today  that it has raised $70 million in Series C funding led by TPGGrowth. The round  also welcomes investments from Arianna Huffington, Peter Thiel, Egon Durban,  Taylor Glover, Sam Palmisano, as well as return investments from NEA, IVP, and  Founders Fund.

While more than $500 billion per year is spent  on internet connectivity and related IT services, organizations have no central  tool to manage all of their internet-connected assets. This inability to  monitor all assets is the root cause of almost every major cybersecurity breach  in the last decade. Nonetheless, organizations still typically utilize an  error-prone process of populating spreadsheets with the help of many different  employees and tools. The boundaries of enterprise networks will get  increasingly complex, as there are expected to be three times as many  internet-connected devices (28.5 billion) by 2022 as there are people on the  planet, according to a Cisco report. Meanwhile, as more  countries follow the European Union’s lead with the General Data Protection  Regulation (GDPR), a greater demand and penalty will be placed upon businesses  to govern their data and manage their networks in accordance with regulations.

This Series C funding validates Expanse’s  rapid success and significant market opportunity for the company’s unique  approach of indexing everything connected to the public internet to inform  customers in real-time what they own, what’s at risk, and how to protect their  most critical assets. Since the launch of its Expander product, the company has  amassed a deep, lucrative foundation of elite international customers across  government, Fortune 500 companies, and internet service providers (ISP),  including CVS/Aetna, PayPal, Capital One, Allergan, Hudson Bay Company, the US  Army, US Navy, US Air Force, and the Departments of Defense, Energy, and State.

"We’re seeing unprecedented traction  because every large organization is unable to map the constantly changing  boundaries of its network unless it’s using Expanse,” said Tim Junio, the CEO  and Co-Founder of Expanse. “While internet services—SaaS, IaaS, IoT or public  cloud—provide businesses cutting-edge solutions to their problems, the  underlying internet infrastructure these tools are built upon is broken. As  organizations’ reliance on these services grows, so too does their need to  better understand, manage, and secure their information that flows across the  internet’s infrastructure—and we are the only company providing them an  integrated solution to do so.”

"Today,  Expanse provides an essential suite of services that every business should be  using to understand and protect the true extent of their network," said  Tim Millikin at TPG, who also helped lead their investments in Tanium, ZScaler,  and Box. "We see immense potential in Expanse that puts them on a pathway  to being one of the world's most impactful software companies.  The company’s underlying technology is  uniquely positioned to serve as a platform that can serve a wide variety of  purposes including governance, management, and more. This platform will help  users better navigate and secure their technology infrastructure, and we are  excited to help them grow.”

"Enterprises don't know the edge of their  network unless they're using Expanse," says Somesh Dash, General Partner  at IVP, which committed significantly in the round. "Whether we're talking  about security or governance, it's simply bad business if an organization  cannot monitor and oversee all their internet assets. Expanse’s unique approach  to inform businesses in real time what they own, what’s at risk, and how to  protect their most critical assets—is the reason the company is tripling sales  year-over-year."

The company plans to apply the funds to  accelerate its business’ go-to-market strategy, including international  expansion beyond its existing overseas customers in the United Kingdom, Canada,  Australia, and Japan.

About  Expanse
Expanse helps IT operations and security teams  discover, manage, and secure all of their global internet assets. Current  Expanse customers comprise more than 10 percent of the routable internet and  they use the company’s platform to monitor for real-time changes to their  infrastructure. Using leading-edge collection and analysis technology, Expanse  improves organizations' visibility, governance, and IT operations, reducing  risk associated with internet-connected assets and enabling a secure digital  transformation. Founded in 2012, Expanse is headquartered in San Francisco and  is now backed by more than $135M in funding.