LogRhythm said Tuesday that it has closed $40 million in financing. Riverwood Capital led the round with participation from other investors that included Adams Street Partners, Access Venture Partners and Piper Jaffray. Headquartered in Boulder, Colorado, LogRhythm is a security intelligence firm.
BOULDER, Colo.–(BUSINESS WIRE)–LogRhythm, The Security Intelligence Company, today announced a $40M round of new equity financing, led by Riverwood Capital, with participation by existing investors Adams Street Partners, Access Venture Partners and members of senior management, along with new investor Piper Jaffray. The round of financing signals confidence that demand and market share for LogRhythm’s award-winning security intelligence solutions will continue to grow amidst an increasingly sophisticated cyber threat environment. The proceeds will be used to accelerate investment in product development, sales and marketing and customer service as the company further capitalizes on its strong momentum.
“LogRhythm is thriving in the security intelligence market on several fronts and has accelerated growth over the last year,” said Jeff Parks, founding partner of Riverwood Capital and newest member of LogRhythm’s Board of Directors. “This is clear evidence that its next-generation Security Intelligence Platform is resonating well with customers. The company has a track record of exceptional business execution and disruptive innovation, which combined with its current market leader momentum, positions it for substantial long-term growth. We’re thrilled to be a strategic partner in this important and thriving business.”
Most organizations understand that if they have not already been breached, it is only a matter of time, and they are increasingly recognizing that preventative technologies and prior-generation approaches are not enough to stop a new generation of threats. In light of this reality, enterprises around the globe are investing heavily to improve threat detection and response. When threats are identified early in their lifecycle, damaging breaches can be avoided. LogRhythm provides the only unified Security Intelligence Platform designed specifically to achieve the fastest threat recognition and response capabilities possible.
“As advanced threats and targeted attacks increasingly evade many traditional cyber defenses, LogRhythm’s next-generation Security Intelligence Platform empowers customers to detect them sooner so they can take action to protect their organizations. Our advanced security analytics automate focus on the highest priority threats, enabling security teams to focus resources on the areas of greatest potential impact. As a result, our award-winning solution is rapidly becoming the security intelligence gold standard for enterprises around the globe,” said Andy Grolnick, CEO of LogRhythm. “We welcome Riverwood as a partner and look forward to leveraging this new capital to accelerate innovation, expand our market reach and help our customers gain the upper hand defending against a deluge of cyber threats.”
LogRhythm is the largest and fastest growing independent security intelligence company in the world. The company’s patented and award-winning Security Intelligence Platform, unifying SIEM, log management, network forensics, host forensics and advanced security analytics, empowers organizations around the globe to detect and respond to breaches and the most sophisticated cyber threats of today, faster and with greater accuracy than ever before. LogRhythm also provides unparalleled compliance automation and assurance as well as IT intelligence to Global 2000 organizations, government agencies and mid-sized businesses worldwide.
LogRhythm has been consistently recognized as a market leader, including being positioned as a Leader in Gartner’s SIEM Magic Quadrant report for three years running, being named a “Champion” in Info-Tech Research Group’s 2014-15 SIEM Vendor Landscape report, being ranked Best-in-Class (No. 1) in DCIG’s 2014-15 SIEM Appliance Buyer’s Guide, and receiving Frost & Sullivan’s SIEM Global Market Penetration Leadership Award. It has also been named a Top Workplace by the Denver Post. LogRhythm is headquartered in Boulder, Colo., with operations throughout North and South America, Europe and the Asia Pacific region.