LogRhythm and Exabeam have announced their intention to merge, a strategic move that will combine the innovative strengths of both companies in the realm of AI-driven security operations. This merger will bring together two cybersecurity leaders, each with a proven track record in providing effective threat detection, investigation, and response solutions.
The combined entity aims to elevate AI-driven security operations to unprecedented levels by leveraging the complementary strengths of LogRhythm and Exabeam. Customers will benefit from increased R&D investments, enhanced product innovation, expanded service and support coverage, and access to a broader AI-driven product portfolio encompassing both cloud-native and on-premises options.
Exabeam was recently recognized as a Leader in the 2024 Gartner Magic Quadrant for SIEM.
The merger is slated to close in the third quarter of 2024, pending regulatory approvals and customary closing conditions. J.P. Morgan Securities served as the exclusive financial advisor to Exabeam, with Goodwin Procter LLP acting as legal advisor. Kirkland & Ellis LLP provided legal counsel to LogRhythm.
LogRhythm is dedicated to helping security teams prevent breaches by transforming disparate data and signals into actionable insights. Their solutions leverage sophisticated machine learning to identify suspicious anomalies in network traffic and user behavior, enabling professionals to respond swiftly and effectively to cyberthreats.
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Exabeam, founded in 2013 by Nir Polak and Sylvain Gil, is a global cybersecurity leader known for its AI-driven security operations. The startup was last valued at $2.4 billion in it's Series F funding round in 2021 (24.0x ARR at the time), and has raised $394 million in total funding. They've been a pioneer in integrating AI and machine learning into its products, providing behavioral analytics atop security information and event management (SIEM). The Exabeam Security Operations Platform offers cloud-scale security log management, powerful behavioral analytics, and automated threat detection, investigation, and response capabilities.
Investors in Exabeam include Shlomo Kramer, Norwest Venture Partners, Sapphire Ventures, Lightspeed Venture Partners, Cisco Investments, Icon Ventures, Aspect Ventures and Blue Owl Capital.
