WASHINGTON, D.C. – Today, Paladin Capital Group’s portfolio company Expel, the leading managed detection and response (MDR) provider, announced cybersecurity giant Kevin Mandia has joined Expel’s board of directors. Mandia founded Mandiant, which was acquired by and remains a subsidiary of Google, and he also serves as a strategic advisor at Google Cloud. Paladin Capital Group was Expel’s earliest investor and continues to partner with the growing cybersecurity company.
“Congratulations to Expel for bringing on one of the world’s most recognized leaders in cybersecurity, Kevin Mandia, to its board of directors. Expel has progressed leaps and bounds since its inception in 2016, and Paladin is proud to be the first investor to recognize the company’s immense potential in the cybersecurity industry,” said Michael Steed, Founder and Managing Partner at Paladin Capital Group. “We are grateful for our years of partnership with Kevin and are looking forward to continuing to move the industry into an era of investing that is grounded in trust, safety, and 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. The company’s automation-forward approach accelerates response and remediation times while scaling quality. Following Expel’s founding in 2016, Paladin Capital Group led the Series A funding round and, in 2021, co-led the $140.3 million Series E round with CapitalG.
“Since Expel’s founding, it has been clear to Paladin that the company would emerge as a trailblazer in cybersecurity, providing security operations teams with the technology they need to defend their organizations as risks increase,” said Mourad Yesayan, Managing Director at Paladin Capital Group and a member of the Expel board of directors. “Having Kevin Mandia join Expel’s board of directors is a testament to the company’s momentous success as the leading MDR solution, and we know that with Kevin’s counsel, Expel will continue to meet milestones in protecting the critical infrastructure of America and our allies.”
Mandia’s board appointment comes as Expel continues to accelerate its trajectory in the cybersecurity industry. Last year, the company strengthened strategic partnerships with major global players in and around the security space, including Wiz, Visa, and, most recently, modePUSH, a leading incident response firm, to improve joint capabilities that meet a broader range of customer security needs. Expel has seen 50 percent year-over-year revenue growth (FY23-FY24) and is surpassing $100 million in annual recurring revenue, achieving “centaur status,” as of FY24.
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About Paladin Capital Group
Paladin Capital Group was founded in 2001 and has offices in Washington DC, New York, London, Luxembourg, and Silicon Valley. As a multi-stage investor, Paladin’s core strength is identifying, supporting and investing in innovative companies that develop promising, early-stage technologies to address the critical cyber and advanced technological needs of both commercial and government customers.
Combining proven investment experience with deep expertise in global security, cyber technology and cutting-edge research, Paladin has invested in more than 70 companies since 2008 and has been a trusted partner to investors, entrepreneurs and governments for over two decades. For more on Paladin Capital Group, follow us on Twitter at @Paladincap and on LinkedIn or visit us at www.paladincapgroup.com.
About Expel
Expel is the leading managed detection and response (MDR) provider trusted by some of the world’s most recognizable brands to expel their adversaries, minimize risk, and build security resilience. Expel’s 24/7/365 coverage spans the widest breadth of attack surfaces, including cloud, with 100% transparency. We combine world-class security practitioners and our AI-driven platform, Expel Workbench™, to ingest billions of events monthly and still achieve a 20-minute critical alert MTTR. Expel augments existing programs to help customers maximize their security investments and focus on building trust—with their customers, partners, and employees. For more information, visit the Expel website, check out their blog, or follow them on LinkedIn.