LogicGate Secures $8.75 Million in Growth Capital, Total Funding Surpasses $40 Million
Summary
CHICAGO--(BUSINESS WIRE)--LogicGate, a leading provider of cloud software solutions for automating governance, risk, and compliance (GRC) processes through its Risk Cloud™ platform, today announces it’s secured $8.75 million in growth capital from Greenspring Associates and Silicon Valley Bank. The funding will fuel LogicGate’s growth trajectory as the company revenue grew by more than 100 percent in the past year driven by significant customer demand for the Risk Cloud product. “2020 showed just how important GRC is because of business disruption and exposure to new risks,” said LogicGate CEO Matt Kunkel. The company doubled its library of out-of-the-box applications, which enable LogicGate customers to implement best-practice GRC processes quickly. Through a year of intense growth, LogicGate has been able to maintain a superior company culture, receiving a Top Workplaces 2020 honor by The Chicago Tribune.
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