Graylog, the “Security Information and Event Management (SIEM) and log management firm”, successfully secured $39m in funding to further fuel its substantial growth trajectory.
Leading the charge in this investment round was new investor Silver Lake Waterman, with commendable backing from existing investors Piper Sandler Merchant Banking and Harbert Growth Partners.
Graylog, in its essence, has been integral in the security domain. They offer Graylog Security, a distinctive SIEM solution designed for mid-sized enterprises. This solution empowers businesses to detect and react to cyber threats, thanks to its advanced security analytics, AI-driven alerts, and efficient threat hunting across various environments – cloud, hybrid, and on-premise. A testament to its efficacy, Graylog Security now constitutes over half of the company’s new clientele.
With this fresh influx of funds, the company aims to expedite product development, enhance its unique selling propositions, amplify global go-to-market endeavours, and pave a sustainable path to profitability.
Graylog’s exponential growth is not merely limited to financial gains. In the third quarter of 2023, the company showcased an impressive 67% increase in new bookings compared to the previous year. This figure significantly overshadows the forecasted 14.5% compound annual growth rate for the SIEM market from 2023 to 2030.
The company’s CEO, Andy Grolnick, is optimistic about the future. He shared, “The growth we are seeing globally is a response to our team’s focus on innovation, a superior user experience, low total cost of ownership, and strong execution from our Go-To-Market and Customer Success teams.”
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