ExtraHop has 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, the company states.
Dennis' appointment follows a notable year for ExtraHop. In 2021, the company grew annual recurring revenue (ARR) by 47% to nearly US$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.
Dennis says, "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. A new layer of defence is required to stop attackers that have infiltrated the enterprise.
"ExtraHop has pioneered an approach that provides universal visibility, understands attacker behaviour, and stops post-compromise activity before it can lead to a damaging breach. ExtraHops 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.
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. These priorities include growth in the enterprise segment and expanding ExtraHop's international impact.
Under his leadership, the company also plans to expand cloud security innovation to provide universal visibility and advanced threat defence for cloud workloads.
ExtraHop co-founder and CTO Jesse Rothstein says, "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.
"Raja and I look forward to working with Patrick as we continue our mission to help our customers defend against the most advanced threats."
ExtraHop board members also commented on the announcement.
Marisa Femenia, board member and operating partner at Bain Capital Private Equity, says, "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.
"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.
Samir Kapuria, board member and managing director at Crosspoint Capital Partners, says, "As companies grapple with a growing attack surface, both in the cloud and on premises, keeping vigilant on what is happening throughout an organisations network is critical to preventing an intrusion from becoming a breach.
"ExtraHop's leading technology was purpose-built to address this challenge, helping organisations detect and respond to attackers inside.
"This innovative approach fuelled 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 defence.
"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."