Danish RegTech company LogPoint has landed $10m in Series B funding from Evolution Equity Partners.
The security information and event management company said the new funding will fuel expansion in new markets and provide continuous enhancement of the LogPoint Enterprise SIEM platform.
Copenhagen-based LogPoint enables enterprises to monitor their networks and rapidly detect and respond to cybersecurity threats. It also claims to fulfil compliance and regulatory requirements, including auditing guidelines, ISO standards, UK GPG13 and the European Union GDPR.
The firm closed its Series A funding round in 2012, with capital provided by Danish ICT specialist investor DICO, who will remain as an investor. LogPoint serves more than 300 customers globally, including government authorities, organisations and private enterprises.
As part of the new funding, Richard Seewald, founder and managing partner at Evolution, and Karel Obluk, partner at Evolution, will join the LogPoint board of directors.
Seewald said: “We believe the attributes of the LogPoint SIEM-platform are unique and provide the company with cutting edge advantage in the global marketplace. The flexibility of the platform, simplicity of the design, the sophistication of the analytics capabilities and the compelling business and licensing model, provides an attractive value proposition. We welcome LogPoint to our portfolio of leading cyber security companies.”
Based in New York City and Zurich, Switzerland, Evolution invests in technology companies in the United States, Europe and Israel, focusing on cyber-security and enterprise software. In The cyber security space it has previously backed AVG Technologies, Cognitive Security, OpenDNS, Carbon Black, Onapsis, Security Scorecard, DFLabs, and Fortscale, among others.
Copyright © 2017 FINTECH GLOBAL