Electronics manufacturer Siemens and cybersecurity technology distributor Exclusive Networks took part in a $50m round for US-based cybersecurity software provider LogRhythm yesterday.
The oversubscribed round was led by Riverwood Capital and included Adams Street Partners, Delta-V Capital, Silver Lake Waterman, Singaporean state-owned fund EDBI and members of LogRhythm’s management team.
Siemens contributed to the round through its Siemens Venture Capital unit while Exclusive Networks, LogRhythm’s distributor in the Europe, Middle East and Africa region, was represented by its investment affiliate, Exclusive Ventures.
Founded in 2003, LogRhythm has developed a security and analytics platform that detects, prioritises and neutralises threats. The financing will enable it to boost its global market share, invest in product development and strengthen its balance sheet.
LogRhythm has now raised more than $121m, according to press releases and regulatory filings. Siemens Venture Capital led a $15m series D round for LogRhythm in 2012, and past investors include the Colorado State-backed Colorado Fund I, Access Venture Partners, Piper Jaffray, Grotech Ventures and Croghan Investments.
Andy Grolnick, president and CEO of LogRhythm, said: “We are very pleased to continue our partnership with our existing investors while also making room in an oversubscribed round for several new investors who can help our ongoing international expansion.”
This story was adapted from an earlier article on our sister site, Global Government Venturing.