LogRhythm concludes 2019 with record sales momentum, public sector customer growth, new leadership, and multiple industry accolades
SAN FRANCISCO–(BUSINESS WIRE)–LogRhythm, the company powering the world’s enterprise security operations centers (SOCs), announced record-breaking sales in Q4 2019, making it the most successful quarter for the company on record. This milestone concludes a year full of achievement for LogRhythm, including the receipt of several industry accolades and the addition of multiple new executives. With this, LogRhythm enters 2020 with a visionary team committed to helping its over 4,000 customers solve their cybersecurity challenges and elevate their organizations’ security operations.
LogRhythm’s success in Q4 was due in large part to its True Unlimited Data Plan. Announced on October 1, this marked the first actual unlimited offering in the security information and event management (SIEM) space — with no strings attached.
LogRhythm created the True Unlimited Data Plan to provide cost predictability for CISOs, who have historically had to choose between either protecting all of their data — and going significantly over budget — or protecting only the amount of data their budget allowed, leaving their unprotected assets particularly vulnerable to cybercriminals. And the market need for this solution was justified quickly: by the end of the quarter, half of all new LogRhythm customers were those who purchased the True Unlimited Data Plan.
Out of LogRhythm’s new customers this quarter, a sizeable amount also came from the government sector, including one customer who signed a seven-figure deal with LogRhythm acquiring the solution in AWS Marketplace from Amazon Web Services. One of the top reasons government customers selected LogRhythm was due to its NextGen SIEM Platform’s out-of-the-box content designed to identify the latest threats, such as ransomware — which aggressively targeted governments throughout 2019. One particularly shocking example includes the 22 Texas governments that fell victim to a single ransomware attack in August. But with LogRhythm’s predefined content, such as its Current Active Threats (CAT) Module and MITRE ATT&CK Module, governments are able to quickly and easily identify and mitigate these threats before they cause any damage.
“As a cybersecurity company ourselves, we understand the complicated challenges our customers face. We want to make it as easy as possible for them to do their job and showcase exactly how they contribute to the safety of their organizations,” said Mark Logan, CEO of LogRhythm. “To make this vision a reality for our customers, we spent significant time, energy, and resources over the past year to ensure they have the best of what SIEM has to offer. And as we look ahead in 2020, we are strengthening our commitment to delivering the best solution for our customers, including recently securing a seven-figure investment from Thoma Bravo to dramatically accelerate platform development and innovation.”
Customers clearly recognized this commitment to innovation throughout 2019. In July, LogRhythm was named a Gartner Peer Insights Customers’ Choice for SIEM for the third time in a row — the only SIEM provider to do so. And the industry at large recognized this as well, with LogRhythm earning a record-breaking number of awards, including:
- Cloud Computing Magazine’s Cloud Security Excellence Award
- The Colorado Association’s APEX Award for CISO of the Year
- Security Today’s New Product of the Year Award — Cloud Solutions and Services category
- Stevie Award for Company of the Year — Computer Software category
- GSN’s 2018 HSA Awards — Best UEBA Solution and Best SIEM Management
- Security Today’s 2019 Govies — Security & Risk Intelligence Category
- SC Awards 2019 — Best SIEM Solution
- Frost & Sullivan’s Asia-Pacific SIEM Growth Excellence Leadership Award 2019
To solidify the commitment to continued success for both LogRhythm and its customers, the organization on-boarded several new executives in 2019:
- Mark Logan, CEO
- Barry Capoot, CFO
- Sue Buck, VP of Engineering
- Cindy Zhou, CMO
- Mike Jones, VP of Product
LogRhythm empowers more than 4,000 customers across the globe to measurably mature their security operations program. LogRhythm’s award-winning NextGen SIEM Platform delivers comprehensive security analytics; user and entity behavior analytics (UEBA); network detection and response (NDR); and security orchestration, automation, and response (SOAR) within a single, integrated platform for rapid detection, response, and neutralization of threats. Built by security professionals for security professionals, LogRhythm enables security professionals at leading organizations like Cargill, NASA, and XcelEnergy to promote visibility for their cybersecurity program and reduce risk to their organization each and every day. LogRhythm is the only provider to earn the Gartner Peer Insights’ Customer Choice for SIEM designation three years in a row. To learn more, please visit logrhythm.com.