Private equity firm closes on majority investment of LogRhythm

BOULDER — Thoma Bravo, a leading private equity investment firm based in San Francisco, has completed its majority investment in the Boulder-based security information and event management (SIEM) firm, LogRhythm Inc..

Financial details of the transaction were not disclosed.

“Thoma Bravo’s expertise and long history of backing leading cybersecurity companies made them the clear partner to help us take LogRhythm to the next level,” said Andy Grolnick, chairman, president and CEO of LogRhythm, in a prepared statement. “We look forward to working closely with the Thoma Bravo team to continue our customer-centric approach to innovation and further strengthening our position as a leading provider of NextGen SIEM offerings.”

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LogRhythm’s SIEM platform helps companies detect and neutralize cybersecurity threats, assess user behavior through analytics and manage the entire threat lifecycle. The company has more than 2,500 enterprise customers.

Through the partnership, Thoma Bravo plans to accelerate LogRhythm’s growth, support innovation and extend its position as a leading SIEM vendor.

“Not only did LogRhythm pioneer next-generation SIEM, but the company has maintained an impressive track record of steady growth and innovation that kept it a leader in the market since launching in 2003,” said Seth Boro, a managing partner at Thoma Bravo, in a prepared statement. “This is one of among many reasons we’re confident that LogRhythm is well positioned for future growth. We look forward to working with the company’s management team to accelerate product innovation, meet ever-evolving cybersecurity challenges and drive continued customer success.”