LogRhythm has hired Attunity veteran Mark Logan to succeed Andy Grolnick as CEO. The surprise move comes roughly one year after private equity firm Thoma Bravo acquired LogRhythm.
Grolnick was not mentioned in a press release about Logan's arrival and the LogRhythm CEO change, despite Grolnick's long track record building and managing the cybersecurity company.
LogRhythm offers a SIEM (security information and event management) platform that spans:
- security analytics;
- user and entity behavior analytics (UEBA);
- network detection and response (NDR); and
- security orchestration, automation, and response (SOAR).
MSPs and end-customers frequently leverage LogRhythm for their SOC (security operations center) efforts.
Logan most recently served as president of Attunity, a data integration and big data management software solutions provider. He also has held CEO roles at WealthEngine, a consumer analytics company, and business analytics firm Rivermine.
Ahead of the surprise CEO change, LogRhythm in May 2019 launched a cloud version of its NextGen SIEM platform.
The release, LogRhythm Cloud, enables MSSPs and other organizations to detect and neutralize cyber threats across their global SOCs, the company said. It also offers SOAR capabilities.
What Does the Future Hold for LogRhythm?
Private equity firm Thoma Bravo acquired LogRhythm in mid-2018. More than 2,500 enterprise customers were leveraging the company's SIEM offerings at that time.
Demand for such services appears strong. The global SIEM market is projected to expand at a compound annual growth rate (CAGR) of 10.4 percent between 2019 and 2027, industry analyst Research and Markets stated. This market also could be worth $6.4 billion by 2027.
Still, competition for SOCs, SIEM and SOAR capabilities is intensifying across the MSP and MSSP markets. Dozens of companies now offer so-called SOC as a Service to channel partners and end-customers.
Additional insights from Joe Panettieri.
