Total amount raised
$156 Million
Latest funding date
07/01/2021
Location
LogicGate has successfully raised significant funding through 8 rounds, attracting the attention of 16 investors, including Greenspring Associates and PSG Equity. The company specializes in cyber risk, controls compliance, and enterprise risk management, offering a flexible and scalable software solution.
Keep reading to explore the intricacies of LogicGate's fundraising journey and the investors backing this innovative platform.
What Is LogicGate?
LogicGate, based in Chicago, Illinois, specializes in providing Governance, Risk, and Compliance (GRC) management software. The company offers a centralized platform called Risk Cloud, which includes various applications and features to streamline GRC programs.
Founded by Matt Kunkel, LogicGate operates in multiple sectors, including compliance, cyber security, enterprise software, and risk management. The company employs between 101-250 people, reflecting its significant growth and industry presence.
How Much Funding Has LogicGate Raised?
- Series C
- Amount Raised: USD 113,000,000
- 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, enhance international presence, and improve security posture.
- Series Unknown
- Amount Raised: USD 8,750,000
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology and services in the cyber risk and compliance sectors.
- Series B
- Amount Raised: USD 24,750,000
- Date: December 2019
- Lead Investors: High Alpha, Jump Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and scale the business.
- Series A
- Amount Raised: USD 7,500,000
- Date: July 2018
- Lead Investors: Jump Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and accelerate growth.
- Series A
- Amount Raised: Not publicly disclosed
- Date: August 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and product development.
- Seed
- Amount Raised: USD 1,900,000
- Date: December 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and enter the market.
- Convertible Note
- Amount Raised: USD 100,000
- Date: June 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure early-stage funding for product development.
- Seed
- Amount Raised: USD 20,000
- Date: June 2016
- Lead Investors: Techstars
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company and build the initial team.
Total Amount Raised: USD 156,020,000. Current Valuation: Not publicly disclosed.
Key Investors
- PSG
- Details: PSG is a growth equity firm that partners with middle-market software and technology-enabled service companies. Founded in 2014, PSG has offices in Boston, Kansas City, and London.
- Investment Focus Areas: Middle-market software companies, technology-enabled service companies.
- Notable Investments: Assembly, Formstack, Jobcase.
- Greenspring Associates
- Details: Greenspring Associates is a venture capital firm that invests in various stages of technology companies. They have been involved with LogicGate since their Series B round.
- Investment Focus Areas: Technology companies at various stages of growth.
- Notable Investments: Uber, Snap, Spotify.
- High Alpha
- Details: High Alpha is a venture studio that creates and funds enterprise cloud companies. They combine company building with venture funding to launch new businesses.
- Investment Focus Areas: Enterprise software, cloud computing, SaaS.
- Notable Investments: Lessonly, Zylo, Terminus.
- Jump Capital
- Details: Jump Capital is a venture capital firm that provides series A and B funding to data-driven technology companies. They focus on companies with strong growth potential.
- Investment Focus Areas: Fintech, enterprise software, data infrastructure.
- Notable Investments: Personal Capital, 4C Insights, Clearcover.
- Techstars
- Details: Techstars is a global platform for investment and innovation. They run accelerator programs and provide funding to early-stage startups.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: SendGrid, DigitalOcean, Sphero.
What's Next for LogicGate?
LogicGate stands at the cusp of significant opportunities, driven by its recent $113 million Series C funding. The company is poised to advance its product offerings, expand its partner ecosystem, and enhance its international presence. These opportunities are substantial, given the growing demand for integrated risk management solutions and the projected growth of the GRC market.
Future fundraising seems likely as LogicGate continues to scale and innovate. The company’s growth trajectory and market potential make it an attractive candidate for additional investment rounds. However, challenges such as managing rapid growth, staying ahead of regulatory changes, and competing in a dynamic market could pose hurdles along the way.
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