Siemens-backed security intelligence company LogRhythm secured $40m in series E funding yesterday from Riverwood Capital, Adams Street Partners, Access Venture Partners, Piper Jaffray and members of senior management.
US-based LogRhythm is the creator of a security intelligence platform that helps organisations deal with cyber threats. The company plans to invest the money in strengthening its product development, sales and marketing, and customer service.
Industrial manufacturer Siemens’ corporate venturing unit, Siemens Venture Capital, led LogRhythm’s $15m series D round in June 2012 as a new investor.
LogRhythm has now raised more than $71m since it was founded in 2003, according to press releases and SEC filings. Past investors also include Croghan Investments and Grotech Ventures.
Andy Grolnick, LogRhythm’s chief executive, said: “We welcome Riverwood as a partner and look forward to leveraging this new capital to accelerate innovation, expand our market reach and help our customers gain the upper hand defending against a deluge of cyber threats.”