Boulder, Colo.-based LogRhythm has raised $15 million for its cyber threat defense, detection and response technology. Siemens’ Venture Capital group, which is a part of Siemens Financial Services, led the Series D round. Existing investors Adams Street Partners and Grotech Ventures also participated.
LogRhythm, the leader in cyber threat defense, detection and response, today announced that it has closed a $15 million Series D round of funding. Siemens’ Venture Capital group, which is a part of Siemens Financial Services, led the round, with participation from existing investors Adams Street Partners and Grotech Ventures. The additional funding will be used to further accelerate growth, product innovation and international expansion.
“We are excited to partner with Siemens’ Venture Capital group, particularly due to the opportunity we see to collaborate in several of the key vertical markets that LogRhythm and Siemens both target, including healthcare and critical infrastructure,” said Andy Grolnick, president and CEO of LogRhythm. “Network attacks and breaches are increasingly driving organizations to employ more advanced detection and response capabilities. There is also a rapidly growing demand for solutions that help organizations tap ‘Big Data’ for enhanced security, operations and business intelligence. LogRhythm’s SIEM 2.0 platform addresses both of these burgeoning needs in unique and compelling ways.”
“The market for Security Information and Event Management (SIEM) technologies is growing faster than ever before as cyber threats increase in volume and sophistication at alarming rates,” said Ralf Schnell, CEO of Siemens’ Venture Capital group; “LogRhythm is well positioned for long-term growth with its award-winning SIEM 2.0 platform. We’re thrilled to be a strategic partner in this business.”
“Adams Street Partners invests in innovative and pioneering leaders like LogRhythm, which is setting the standard for security intelligence,” said Dave Welsh, partner at Adams Street Partners. “We’re excited about continuing our partnership with this team and helping the company take advantage of the great opportunity in front of it.”
Positioned as a Leader in Gartner’s 2012 SIEM Magic Quadrant, LogRhythm delivers the visibility and insight needed to detect, defend against and respond to increasingly sophisticated cyber threats, efficiently meet compliance requirements and proactively respond to operational challenges. LogRhythm uniquely analyzes and manages network, host, file and user activity data in a highly scalable, integrated solution. Its innovative log management and SIEM 2.0 solution detects the previously undetectable, delivers powerful forensics and provides actionable intelligence.
LogRhythm is the leader in cyber threat defense, detection and response. The company’s SIEM 2.0 security intelligence platform delivers the visibility, insight and remediation required to detect the previously undetectable and address the mutating cyber threat landscape. LogRhythm also provides unparalleled compliance automation and assurance as well as operational intelligence to Global 2000 organizations, government agencies and mid-sized businesses worldwide.
Positioned as a Leader in Gartner’s 2012 SIEM Magic Quadrant and listed as a “Champion” in Info-Tech Research’s 2012 SIEM Landscape Report, LogRhythm also earned a perfect, 5-star rating and this year’s exclusive “BEST BUY” in the SC Magazine SIEM Group Test. Additional awards have included Computing Security’s Bench Tested Solution of the Year, SC Labs’ “Recommended” 5-star designation twice, SC Magazine’s Innovator of the Year Award, Readers Trust Award for “Best SIEM” solution and “BEST BUY” designation for Digital Forensics. LogRhythm is headquartered in Boulder, Colorado with operations in Canada, Europe and the Asia Pacific region. For more information, visit www.logrhythm.com .
About Siemens’ Venture Capital group
Siemens’ Venture Capital group is the corporate venture capital unit of Siemens and part of Siemens Financial Services. It invests in early-stage technology companies and established growth companies, focusing on the energy, industry, healthcare and infrastructure & cities sectors. The aim is to identify innovative solutions from which Siemens can profit and play a key role in Siemens’ global innovation network. To date, the company has invested more than EUR800 million in over 150 companies and 40 venture capital funds.
About Adams Street Partners
Adams Street Partners is a global private equity investment management firm that offers comprehensive solutions for its investors, establishing a reputation for strong performance, an extensive knowledge base and a disciplined investment approach that values quality over quantity. Its mission is to be the premier private equity investment manager in the world by sustaining world-class investment performance and the confidence of our investors through our deep understanding of the global private equity marketplace and exemplary client service. For more information, visit www.adamsstreetpartners.com .
About Grotech Ventures
Founded in 1984, Grotech Ventures is a leading early investor in high-potential technology companies. Grotech seeks investments across the information technology landscape and initially invests $500,000 to $5 million while continuing to invest through the growth of each enterprise. The firm focuses on the Mid-Atlantic, Southeast, and Rocky Mountain regions while being selective in other geographies. Grotech Ventures has built a reputation for being a collaborative, long-term partner for CEOs and entrepreneurs and has the operational knowledge, personal networks, and industry expertise necessary to accelerate growth. Grotech is currently investing for its eighth fund.