Fast-growing LogRhythm is expected to announce Tuesday that it raised another $50 million from investors to speed up its global expansion to help large companies fight cyber attacks.
The new round was led by Riverwood Capital Management, which led the $40 million round two years ago. Riverwood, the largest shareholder, is a big believer that the Boulder cybersecurity firm has a lot of growth ahead, said Jeff Parks, founding partner of Riverwood Capital.
“In my world, when you’ve got a winner on your hands and the capital to put into the space, you take it,” Parks said. “The market they address is quite sizable and growing and the company is very well-positioned. It really is one of the top technology companies in the Denver-Boulder area.”
LogRhythm, which started in 2003, collects data from a corporation’s existing security programs and analyzes the data into a user-friendly dashboard that prioritizes threats. That appeals to very large companies