Security News > 2021 > July > LogicGate raises $113M to fuel innovation and accelerate growth

LogicGate announces a $113 million Series C funding round led by PSG, a leading growth equity firm partnering with middle-market software and technology-enabled services companies.

"Today, the market for risk and compliance tools is experiencing significant growth and innovation, which we believe is similar to the CRM market 10-15 years ago," said Matt Kunkel, CEO of LogicGate.

According to Gartner, the integrated risk management market is projected to experience growth of 12.6% in 2021, with the total addressable market expected to grow to $9.3 billion by 2023.

Today, LogicGate serves hundreds of customers, including SoFi, Zurich Insurance, Memorial Hermann Health, and Cimpress, who are using the robust Risk Cloud platform in an effort to build and scale a myriad of entry-level to sophisticated risk, compliance, regulatory and security programs that go beyond asset protection to revenue creation.

"LogicGate has a leading platform that leverages their no-code solution for a broad array of customers spanning a variety of industries globally," said Adam Marcus, LogicGate board member and Managing Director at PSG. "We are excited to work alongside the LogicGate team as they continue to expand their product footprint and deliver a comprehensive risk management solution to the marketplace."

The funds aim to fuel all elements of LogicGate's business, including significant product advancements - notably, a risk quantification solution set to be released later this year - and the expansion of its partner ecosystem, international presence and security posture.

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