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LogicGate raises $113 million in a venture investment round
LogicGate, a solcyber forgepoint capitalwiggersventurebeat company that builds software to manage risks, has raised $113 million in a new venture investment round led by PSG Equity. The funding will help the company grow its international presence, develop new products and expand its security posture. LogicGate, founded in 2009 by Jon Siegler and Matt Kunkel, has over 50 employees worldwide.
LogicGate is a SaaS provider of risk management and compliance solutions. The company raised $113 million in a Series C round of funding from PSG and Greenspring Associates. The new funding will enable LogicGate to accelerate product development and enhance its security posture, as well as expand its partner ecosystem.
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The company currently works with 30 solution providers, but plans to double that number. The company has been particularly successful in its relationships with consultancies, which are looking for a more automated way to manage risk management. It also plans to offer joint events and co-marketing opportunities. Webinars, quarterly business reviews and product showcases are also planned. The new funding will be used for marketing and product development.
In the coming 12 to 18 months, LogicGate plans to double its headcount. The company’s global presence has led to a rise in ARR over the past year. The company plans to launch a new product in the risk quantification space and expand its presence in the Risk Cloud Exchange marketplace. LogicGate also plans to invest in channel partners and strategic alliances.
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The company also has some other investments. Insight Partners led a $100 million Series A round for the company. Altitude Life Science Ventures, True Ventures and BoxGroup also participated in the round. LogicGate is a Chicago-based company that provides a risk management and compliance platform. The company was previously valued at $800 million.
LogicGate has also raised a series C funding round led by Temasek. In a previous round, the company raised $312 million. It now expects to generate $197 million in revenue and $9 million in net income this year. Other investors include Thoma Bravo.
BlackCloak raises $11 million
ForgePoint Capital is the leading cybersecurity venture capital fund in the world with 36 active portfolio companies. Its advisory council is comprised of 75 senior executives from various industries. The firm was founded in 2015 and has since invested in more than a dozen cybersecurity companies.
The company’s new capital will be used to expand the scope of its product offerings and aggressively develop its people. The money raised will also help SolCyber expand its customer base and enhance its brand. SolCyber is a cybersecurity company that has successfully raised over $11 million in venture funding.
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SolCyber has developed a technology stack that enables organizations to monitor, prevent, and respond to cybersecurity threats. The technology stack includes endpoint protection, email security, Active Directory abuse protection, and admin exploitation prevention. It also includes a security operations center that provides 24-hour monitoring and correlations. The company recently came out of stealth mode and plans to use the money raised to further refine its goods and services.
While SolCyber has only a dozen employees, its revenues are modest at the moment. However, it plans to increase its workforce to 20 by the end of the year. It plans to enter the information security market, which Gartner estimates will reach $170 billion by 2022.
LogicGate partners with Converge
LogicGate is a leading provider of transformative risk and compliance software. The company recently announced a $113 million Series C funding round led by PSG, a growth equity firm that specializes in middle market software companies. Greenspring Associates has also stepped up its investment in the company.
LogicGate is a cloud-based company that automates GRC processes. It helps companies transform their disorganized risk and compliance operations into enterprise-wide risk management programs. Its risk cloud platform makes it easy for customers to build and use integrated enterprise risk management programs. The company has a strong partner ecosystem and is continually expanding its client base through technology partnerships and channel sales.
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LogicGate has recently announced a partnership with Black Kite, a leading provider of cyber risk intelligence. This partnership will enhance LogicGate’s risk cloud platform with third-party cyber risk intelligence. With the integration of Black Kite’s cyber risk ratings, LogicGate’s Risk Cloud platform will be able to provide executives with a comprehensive picture of their risk posture.
The new partnership will help CUBE customers expand their reach into new markets and develop proactive regulatory compliance programs. The automated regulatory intelligence platform from CUBE covers over 3,000 regulators worldwide. The integration between Risk Cloud and CUBE will significantly improve the existing Risk Cloud solution. The combined solution will also help CUBE customers achieve regulatory compliance goals across the globe. The new solution will allow customers to automate their regulatory programs and remain compliant at all times.
SolCyber raises $20 million in a series A funding round
Security-focused startup SolCyber recently raised $20 million in a series A funding round. The investment will help the company expand its technology and staff. The company plans to double its solcyber forgepoint capitalwiggersventurebeat headcount within the next six months. The company’s technology protects against malicious code and emails. It charges $57 per user per month.
SolCyber is a managed security service provider, enabling organizations to detect, monitor, and respond to cyber threats. With the recent funding, the company plans to expand its technology suite and extend its go-to-market strategy. With the growing demand for cybersecurity, SolCyber is well-positioned for continued growth. It currently has a workforce of 12 people, but plans to grow to 20 by 2021.
SolCyber recognizes that companies of all sizes need to strengthen their solcyber forgepoint capitalwiggersventurebeat cybersecurity postures. Its curated technology stack includes advanced email and endpoint security, as well as active directory protection and lateral movement detection. This enables organizations to scale security with ease.
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Another Fintech startup, Cledara, has raised $20 million in a series A funding round. The company plans to use the money to build out its technology platform, as well as double the number of employees in its solcyber forgepoint capitalwiggersventurebeat New York office. The company has offices in Barcelona and London, but is now hiring in the U.S. and will be relocating some co-founders to Denver as part of its expansion.
The new funding rounds are part of a larger trend in cybersecurity. The company has solcyber forgepoint capitalwiggersventurebeat seen tremendous interest from the industry because of its technology. Its goal is to help organizations protect themselves from cyber threats from the very beginning of their development. It also hopes to help organizations comply with new data regulations. The new investment will help the company build and maintain its momentum in the market.
