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LogLogic Secures $8.8M in Extended Series D Financing
Log Management Leader Completes First Acquisition, Grows Customer Base and Launches Portfolio of Log-Powered Applications in 2009
SAN JOSE, Calif. LogLogic®, the log management leader, today announced it has extended its series D round of funding, securing an additional $8.8 million in equity financing to fuel rapid growth into new markets, including IT security management and database activity monitoring. This round, which brings the total equity investment in LogLogic to $58 million, was led by Focus Ventures and included Sequoia Capital, Telesoft Partners, Worldview Technology Partners, INVESCO Private Capital, SAP Ventures and former shareholders of Exaprotect, including CM-CIC Private Equity, Crédit Agricole Private Equity and ELAIA Partners.
As the largest independent vendor in the log management market, LogLogic enables large enterprises and mid-market organizations in every industry to meet their IT compliance mandates for capturing, reviewing and reporting on log data. Businesses turn to LogLogic for easy to use and deploy log management solutions that can scale to support complex, large-scale IT infrastructures. As a result, LogLogic nearly doubled its customer base in 2008 and, with the acquisition of Exaprotect this year, serves more than 1,000 customers worldwide.
“LogLogic has shown incredible traction and market penetration year-over-year while continuing to pursue an aggressive vision for leading innovation in the log management, security management and database security markets,” said Mike Goguen, Managing Partner at Sequoia Capital. “LogLogic’s tier one business partners and large Fortune 500 customer portfolio further demonstrate the company’s commitment to deliver best in class products.”
In addition to securing additional financing, LogLogic completed the acquisition of Exaprotect last week. Exaprotect’s industry-leading security event management patent-pending technologies power LogLogic Security Event Manager and LogLogic Change Manager – two critical differentiators for LogLogic’s comprehensive suite of IT management business applications. While other vendors in the security event management industry provide passive monitoring and reporting tools, LogLogic’s product suite is the only line of solutions to actively detect intrusions and prevent data breach incidents.
“As we build on top of our record growth last year, we’re rapidly expanding to provide a variety of business applications that help customers achieve their security and compliance objectives faster and at a lower cost,” said Pat Sueltz, President and CEO at LogLogic. “If you want a full record of what’s happening to your data, you go to the logs. Our investors understand the value we provide and support our acceleration into new markets this year.”
LogLogic® (www.loglogic.com) is the leader in log management, compliance management and security management solutions designed to improve accountability and lower costs for organizations of all sizes. LogLogic’s unique open log management platform enables customers to collect, search and store 100 percent of IT log data for a comprehensive fingerprint of past and current activity across any organization. Powered by the industry’s leading open log management platform, LogLogic’s business applications correlate user activities and event data in real-time for a unique integrated approach to security event management, database security management and compliance management with industry and government regulations. Check out LogLogic products at http://loglogic.com/logpower and follow LogLogic on Twitter at http://twitter.com/loglogic.