Log management vendorLogLogic hassecured an additional US$13.5 million (NZ$17.1 million) in venture capital funding, which brings investment in the company to US$47.7 million.
LogLogic garnered this fourth round of funding, led by Focus Ventures, to expand its global sales and marketing initiatives. The company, which competes with vendors such as ArcSight, netForensics and Q1 Labs, reports signing more than 160 customers in 2007 for its log collecting and analysis technology.
"Organisations are making log management a priority and they are quickly reaping the benefits, from the [systems administrator] up the chain of command to the CEO," says Pat Sueltz, CEO of LogLogic.
Founded in 2002, LogLogic built its business around collecting log data from network and security devices. Log management can represent an arduous manual task that even when completed provides little insight into what the data in the logs actually means. LogLogic products collect data from any log source without requiring network managers to do any coding work.
From 2005 to 2007, expatriate New Zealander Andy Lark was LogLogic's chief marketing officer.
He left last year to become vice president of marketing and communications at Dell.
The vendor says its technology, typically packaged as an appliance, addresses compliance issues many companies face today. For instance, companies trying to stay compliant with mandates such as the Payment Card Industry Data Security Standard PCI DSS or more accurately track user activity across devices can benefit from automated log-management tools. Investors agree.
"Industry regulations are creating a multibillion-dollar market opportunity for log management solutions," says Kevin McQuillan, general partner at Focus Ventures.
Other investors in LogLogic's Series D financing round include Sequoia Capital, Telesoft Partners, Worldview Technology Partners and Invesco Private Capital.
Additional reporting by David Watson