Total amount raised
$156 Millions
Latest funding date
07/01/2021
Location
LogicGate has successfully raised significant funding over multiple rounds, with its most recent being a Series C round. The company specializes in providing cyber risk, controls compliance, and enterprise risk management services through its Risk Cloud platform.
Keep reading to explore the intricacies of LogicGate's fundraising journey and the investors backing this innovative platform.
What Is LogicGate?
LogicGate, founded in June 2015, is a Chicago-based company specializing in governance, risk, and compliance (GRC) software. The company was established by Dan Campbell, Jon Siegler, and Matt Kunkel.
With an employee count ranging from 101 to 250, LogicGate offers a platform called Risk Cloud. This platform provides solutions for cyber risk, controls compliance, and enterprise risk management, empowering businesses to manage risk proactively and collaboratively.
How Much Funding Has LogicGate Raised?
- Seed Round
- Amount Raised: $20K
- Date: June 2016
- Lead Investors: Techstars
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop the initial version of its platform.
- Convertible Note
- Amount Raised: $100K
- Date: June 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for early-stage development and operations.
- Seed Round
- Amount Raised: $1.9M
- Date: December 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the Risk Cloud platform and expand the team.
- Series A
- Amount Raised: $7.5M
- Date: July 2018
- Lead Investors: Jump Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance the platform's capabilities.
- Series B
- Amount Raised: $24.8M
- Date: December 2019
- Lead Investors: High Alpha, Jump Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Venture Round
- Amount Raised: $8.8M
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing product development and market expansion.
- Series C
- Amount Raised: $113M
- Date: July 2021
- Lead Investors: PSG, Greenspring Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel product advancements, expand the partner ecosystem, and enhance international presence and security posture.
Total Amount Raised: $156M. Current Valuation: Not publicly disclosed.
Key Investors
- PSG (Providence Strategic Growth)
- Details: PSG is a leading growth equity firm that partners with middle-market software and technology-enabled service companies. Founded in 2014, PSG operates out of offices in Boston, Kansas City, and London.
- Investment Focus Areas: Middle-market software companies, technology-enabled service companies.
- Notable Investments: Not publicly disclosed.
- Greenspring Associates
- Details: Greenspring Associates is a venture capital firm that has been involved with LogicGate since their Series B funding round. They provide capital to early-stage technology companies and also invest in growth-stage companies.
- Investment Focus Areas: Technology, software, risk management solutions.
- Notable Investments: Not publicly disclosed.
- High Alpha
- Details: High Alpha is a venture studio that creates and funds companies. They focus on building and scaling enterprise cloud companies.
- Investment Focus Areas: Enterprise cloud, SaaS, technology.
- Notable Investments: Not publicly disclosed.
- Jump Capital
- Details: Jump Capital is a venture capital firm that provides series A and B capital to data-driven technology companies. They are known for their hands-on approach and deep operational expertise.
- Investment Focus Areas: Fintech, enterprise software, data infrastructure.
- Notable Investments: Not publicly disclosed.
- Techstars
- Details: Techstars is a global platform for investment and innovation. They provide mentorship-driven accelerator programs and invest in early-stage startups.
- Investment Focus Areas: Technology, innovation, early-stage startups.
- Notable Investments: Not publicly disclosed.
What's Next for LogicGate?
LogicGate stands at the cusp of significant growth opportunities, driven by its recent $113 million Series C funding. The company aims to advance its platform capabilities, bring new products to market, and expand its partner ecosystem. With the Governance, Risk, and Compliance (GRC) market poised for disruption, LogicGate is well-positioned to capitalize on the increasing importance of risk and compliance management in organizations.
Future fundraising opportunities seem promising as the company continues to innovate and expand. The substantial capital injection suggests that additional rounds could be on the horizon to support further product advancements and international expansion. However, challenges such as maintaining agility in a rapidly evolving market and managing the complexities of international growth will need to be navigated carefully.
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