Tofte & Company – Cybersecurity platform LogPoint secures $10 million in funding led by Evolution Equity Partners
It is with pleasure that we can announce that LogPoint, the next generation security information and event management (SIEM) and big data analytics platform, has secured $10 million in Series B funding from cybersecurity specialist Evolution Equity Partners.
LogPoint, headquartered in Copenhagen, Denmark, introduced its SIEM solution to the market in 2008 and has since experienced continuous growth. In 2012 Series A funding was provided by Danish ICT specialist investor DICO, who will remain as an investor. LogPoint is the only European SIEM vendor and it achieved an EAL 3+ certification in 2015 in partnership with Boeing Defense, Space & Security. This certification facilitates partnerships with NATO, intelligence agencies, military and police entities and critical infrastructure in general. The Company today serves more than 300 customers globally with a significant customer base in Europe, whether it be government authorities, organizations and private enterprises. The clients are served through a network of infrastructure and security specialists partners such as CGI, Securelink, NNIT, KMD and Cygate. The Company has grown from 30 to 100+ employees with offices in Germany, United Kingdom, France and Sweden in addition to HQ in Denmark.
The large cybersecurity market is in high growth and according to Gartner Research “worldwide spending on information security is expected to reach $90 billion in 2017, an increase of 7.6 per cent over 2016, and to top $113 billion by 2020.”
The recent funding will enable LogPoint to enter the next phase of growth; fueling expansion in new markets and providing for continuous enhancement of the LogPoint Enterprise SIEM platform.
“We are very content with the process run by Tofte & Company,” says Jesper Zerlang, CEO of LogPoint. “We have secured the capital needed to take LogPoint to the next level and Tofte & Company managed to find the perfect value adding partner in Evolution Equity Partners as they have an extensive network and solid experience and deep sector knowledge within our sector. The process was run very professionally and the deal execution skills got us the right deal.”
“Jesper and Søren (Laustrup – founder of LogPoint) have built an amazing company with a huge potential. Their product is truly innovative and in a sector where newcomers have difficulties entering, they have taken a strong market position because of a unique product offering. I very much look forward to follow the journey of LogPoint following the receipt of necessary growth capital and high expertise from Evolution Equity Partners,” says Thomas Tofte, Managing Partner of Tofte & Company.
LogPoint is a cybersecurity pioneer founded in Denmark, having introduced its SIEM product to the market in 2008. Today, over 300 clients experience the LogPoint difference. LogPoint is the most flexible platform available for collecting, analyzing, and monitoring all data – whether generated by applications, databases, or infrastructure, or by sensitive assets, manufacturing systems, or security systems. The big data scale-as-you-grow architecture allows for quick and easy analysis and visualization with only a few resources – no matter how vast the IT landscape, no matter how dense the data. Sales and support offices are located throughout Europe with partnerships across the globe.
About Evolution Equity Partners:
Evolution Equity Partners, based in New York City and Zurich, Switzerland, invests in fast growing technology companies in the United States, Europe and Israel helping exceptional entrepreneurs develop market leading companies. The firm has a focus on cybersecurity and enterprise software and its partners have been involved as founders, investors and as senior operating executives in leading software companies around the world. Current and past cybersecurity portfolio companies include: AVG Technologies (AVG: NYSE), Cognitive Security (CSCO: NASDAQ), OpenDNS (CSCO: NASDAQ), Carbon Black, Onapsis, Security Scorecard, DFLabs, Fortscale among others.