BOULDER, Colo.—June 28, 2012—LogRhythm, a 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, Grotech Ventures and the Colorado Fund. 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 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 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 solution detects the previously undetectable, delivers powerful forensics and provides actionable intelligence.