LogRhythm recently announced another round of funding to the tune of US$40 million, taking the total that it has received to date to US$76 million. With this new cash injection, it aims to further accelerate product development and to expand its efforts in sales, marketing and customer service.
LogRhythm has morphed from a security information and event management (SIEM) and log management vendor into a full-fledged security intelligence platform vendor, with additional capabilities that include continuous monitoring and forensics, file integrity and configuration checking, advanced big data analytics and automated remediation.
The market for security intelligence products is growing rapidly as organisations worldwide are faced with an ever-growing and increasingly sophisticated array of threats. Every organisation is a target and the need to quickly and effectively respond to advanced threats has never been greater. Relying on manual tactics is no longer an option as the volume of threats is too high. Even with automated monitoring and alerting in place, there can be too many alerts to effectively deal with, so that dealing with threats so they are contained or, ultimately, removed is too great a task, especially for large organisations, unless the technology infrastructure is in place to provide the organisation with actionable insight into the threats they face and their impact.
LogRhythm is now one of the largest privately held security vendors and continues to carve out market share. But that may well change soon as the vendor states that it is considering an IPO in the near future. That, along with the recent funding, is testament to the value of this technology sector and makes LogRhythm a vendor to watch.