LogRhythm, a Boulder, CO-based global provider of security information and event management solutions, received a majority investment from private equity firm Thoma Bravo.
The financial terms of the deal – which is expected to close in the 3rd quarter of this year, subject to usual and customary closing conditions and regulatory approvals – were not disclosed.
The investment is expected to support the company’s future operational and product development plans.
Led by Andy Grolnick, chairman, president and CEO, and Chris Petersen, CTO, chief product officer and co-founder, LogRhythm provides Security Information and Event Management (SIEM) solutions to over 2,500 enterprise customers around the world.
The company’s NextGen SIEM Platform combines traditional SIEM capabilities with advanced user and entity behavior analytics (UEBA), network traffic and behavior analytics (NTBA) and security automation & orchestration (SAO). These combined capabilities deliver end-to-end Threat Lifecycle Management and serve as the foundation for the AI-enabled Security Operations Center (SOC), enabling customers to measurably secure their cloud, physical and virtual infrastructures for both IT and OT environments.