LogLogic Momentum Continues with European Expansion and a Move into the Mid-market Enterprise
Q1 highlights include record quarterly results, series D funding secured, EMEA expansion, a transition into the mid market and high-profile partnerships
SAN JOSE, Calif. — April 28, 2008 — LogLogic® (www.loglogic.com), the log management leader, today announced a number of milestones from Q1 2008 which demonstrate growing momentum, particularly within the EMEA region.
Continued financial success
LogLogic closed another record quarter, continuing the historical pattern of a year on year doubling in size of the overall business. Series D financing secured $15 million to support global expansion, distribution and product innovation strategies. Investors included SAP Ventures, the venture capital arm of SAP AG, Focus Ventures, Sequoia Capital, TeleSoft Partners, Worldview Technology Partners, and Invesco Private Capital among others.
EMEA expansion
This latest investment immediately contributed to the expansion of LogLogic's global foot-print. Former SurfControl executive, Henning Ogberg was appointed in Europe to drive growth, develop the channel network and establish new offices, initially in Germany and France.
Henning brings to LogLogic almost 20 years of sales experience in international business and new market establishment as well as 12 years of software and internet security industry experience. In his previous position, Henning was senior sales director for Central, Eastern and Northern Europe. He will work closely with LogLogic’s global channel team to develop the partner network and build a scaleable, dependable successful program throughout Europe, Middle East and Africa.
This strengthening of European presence was re-enforced with the signing of new partnership agreements with Entel in Spain and Exer Datacom in France.
Product enhancements
A new LogLogic product family was released which is targeted specifically at the enterprise mid-market and the channel. The MX family of appliances bundle in compliance content in the form of out of the box reports and alerts, with a focus on PCI credit card standards for user tracking and the ITIL operations framework amongst other global regulations.
The launch of the MX family comes at a time when a survey carried out by research experts, Vanson Bourne, on behalf of LogLogic found that almost half (45 per cent) of medium to large retailers in the UK who handle credit card transactions are unable to track and trace who has been accessing data within the company network. The MX family will simplify how organizations such as those questioned can implement track and trace policies, which will help them ensure PCI compliance.
"Complying with regulations and audit requirements are the norm for medium to enterprise companies now-a-days," said Michael Coté, Software Industry Analyst for RedMonk. "Without getting too bogged down in creating custom built systems that require initial setup and then ongoing care-feeding, medium sized companies would really like to just plug something in and be done with it. While larger organizations may have the time, inclination, and need for more customized solutions, mid-sized companies want log management driven compliance that's low hassle and gets the job done rather than having to carve out what they need from a broader platform."
LogLogic ecosystem growth
LogLogic significantly expanded its managed service provider footprint on the back of a global trend to move security and compliance to a cloud computing approach. Verizon Business Services, SAVVIS and SecureWorks each launched subscription-based log management services based on LogLogic. Verizon Business Services’ acquisition of Cybertrust last year means that the company has a significant foot-print across EMEA which will extend further LogLogic's reach across the region.
Additionally, software vendors Compliance Spectrum and UpperVision have used LogLogic's Open Log Services API to integrate their offerings with LogLogic's log management and intelligence (LMI) platform. Via LogLogic's Open Log Services, joint customers utilizing LogLogic's security and compliance appliances can attain greater business agility and productivity through ease-of-integration.
Further partnerships with organizations such as McAfee for its Security Innovation Alliance program, and Guardium, the database security company, demonstrate the growing role LogLogic is playing within the IT security industry.
Commenting on Q1 momentum, Dominique Levin, executive vice president marketing and strategy said, "2008 triggered a very exciting time for LogLogic as the company started the year with a hugely successful Q1. The growing number of organizations signing up to work with LogLogic in one form or another is a testament to the company's reputation within the market. In terms of what lies ahead, the EMEA region in particular is set to be a growth area for LogLogic, and the appointment of Henning alongside the new French and Spanish partners demonstrates the importance LogLogic is placing on the region."
About LogLogic
LogLogic® is a visionary leader in log management for business operations, security and compliance for the most demanding global enterprises as well as mid-market companies. The LogLogic family of LX-ST and MX appliances address the compliance, operations and risk mitigation needs for collecting, storing, reporting and alerting on 100 percent of IT log data from virtually any device, operating system or application. LogLogic's innovations include creating the world's first search engine for fast-moving IT log data, the first open log management platform and API, and Compliance Suites for PCI, SOX, HIPAA, and other mandates that automate using log data to enforce critical controls and regulations. LogLogic received four and half stars out of five from SC Magazine's forensic tools review in 2008 and was named a Deloitte Technology Fast 50 Rising Star in 2007. For more information, visit www.loglogic.com and http://blog.loglogic.com.
LogLogic disclaims any interest in the trademarks of others.
Technorati : Compliance, Log Management, Log Management & Intelligence
Posted April 28, 2008 6:00AM