LogicGate 2022 Recap: A Year of Growth, Innovation, and Partnership

Thanks to insights and collaboration from our community of customers and partners, 2022 was a year of massive growth and innovation at LogicGate. From dozens of Risk Cloud platform enhancements and new Applications to new service offerings and team members, the LogicGate team worked hard to add even more value to the Risk Cloud platform and set our customers’ GRC programs up for success in the new year.

Here’s a roundup of our biggest wins and most exciting news from 2022 — and what you can expect from the LogicGate team in 2023.

Positioning to Scale With New Leadership and Talent

Hiring and retaining top talent and leadership is mission-critical at LogicGate. To position the company for growth and continue to deliver top-tier products and services, we expanded our team by more than 30% in 2022. This included the company’s first-ever Chief Information Security Officer, and four additional executives to direct LogicGate strategy and innovation:

• Nicholas Kathmann, Chief Information Security Officer (CISO)
• Jay Jamison, President of Product and Technology
• Andy Ruse, President of Field Operations
• Kara Smith, Chief Financial Officer
• Caroline Werner, Chief People Officer

Alongside the talent and expertise of the entire LogicGate team, these new leaders bring decades of shared experience from firms like Microsoft, Dell, Quickbase, Accruent, Datto, and Korn Ferry. We’re excited to have them aboard to accelerate company growth and product innovation in 2023.

Expanding LogicGate’s Market Presence Domestically and Abroad 

LogicGate innovation and market leadership drove a 25% increase in our customer base in 2022, with new customers including Rakuten, Rite Aid, Virgin Mobile, and Bitvavo now managing their GRC programs with Risk Cloud. We also experienced strong above market growth, with notable highlights including triple-digit channel revenue growth, near triple-digit revenue growth in our enterprise segment, and strong international growth. We are thrilled to see this rapid growth across our organization, and we’re doubling down on delivering even more innovative solutions to help our customers succeed in 2023 and beyond.

Strengthening the LogicGate Partner Network and Integration Offering

To enable our customers to solve increasingly complex GRC challenges, LogicGate expanded its integration and service capabilities with 15 additional partners in 2022. We’re excited to welcome best-in-class technology, service, and channel partners like Black Kite to the LogicGate partner network alongside leading companies like Optiv, Workato, and Climb. Partnerships like these add even more value to the Risk Cloud platform and supplement our existing offering via packaged integrations with popular enterprise solutions like ServiceNow™, Tenable®, and Microsoft 365.

Earning Industry Recognition 

Third-party validation of company success is as important to us at LogicGate as it is to our customers and partners. That’s what we’re excited to share LogicGate was recognized in more than a dozen major awards, shortlists, and reports in 2022, including:

• Chicagoland Top Workplaces 2022 Award for the third consecutive year
• G2 GRC Platform Leader status for the fourteenth consecutive quarter
• Named to the Inc. 5000, a list of the fastest-growing privately held U.S. companies, for the second year in a row
• Recognized as a "Strong Performer" in The Forrester Wave™: Third-Party Risk Management Platforms, Q2 2022 report
• Gold Winner in the 2022 Cybersecurity Excellence Awards program for Risk Management Product, North America (100 to 499 employees)

Leading the Industry With Product Innovation and Strategy

At LogicGate, we’re committed to maximizing customer value with continuous product innovation and best-in-class services and support. We look forward to sharing new enhancements and offerings every year at our annual Agility user conference and hearing directly from customers how we can better support their GRC program goals.

LogicGate’s product, engineering, and content teams delivered on this commitment in 2022 with dozens of product updates, enhancements, and new content releases. 2022 fan favorites include:

• Improved user experience: Bulk field updates, days until due calculations, comment notifications, and summary emails for risk program stakeholders are just a few examples of how we’ve made Risk Cloud a more seamless experience for risk owners and Power Users. We’ve also taken major steps to improve platform accessibility, and made it easier than ever to track changes within Risk Cloud by tracking important data like field change audit history and Application “created by” and “created date” fields.
• Enhanced reporting: Helping customers visualize and assess their GRC program performance is one of the most important things we do. Adding the “days until due” field to reports, allowing users to display financial value in USD, EUR, and GBP, and making it easy to export and share visual reports with stakeholders were three key ways we improved Risk Cloud reporting. The team also enhanced the Risk Cloud Documents integration with the addition of table reports and introduced Metric Reports as a Visual Report option to display sums and averages across multiple fields.
• Improved third-party collaboration and security: LogicGate’s Third-Party Risk Management Solution is a long-time customer favorite. We made several enhancements to this popular Solution in 2022, including:
  • Improved security: Grant secure access to external users like vendors and partners with secure, one-time passcodes.
  • Easier collaboration: Add third parties to Risk Cloud via the “external user field” and automatically invite them to complete questionnaires at your preferred cadence.
  • New and updated Applications: Released the new, flexible Third-Party Risk Management: Standard Application and updated the Third-Party Risk Management: SIG Lite Application.
• Enhanced backend functionality, automation, and Job user experience: This year, we expanded platform functionality, reliability, and performance with a complete overhaul of Risk Cloud Jobs, the engine that powers automations within Risk Cloud. Improvements included the ability to perform multiple operations with a single Job, search and find Jobs with filters, clearer error messaging, and easy access to Job history and schedule.
• New and updated Risk Cloud Solutions and Applications: 12 new and updated Risk Cloud Solutions and Applications were released last year. This includes the Environmental, Social & Governance Solution and Cyber Risk & Controls Compliance Solution, the first solution to unite and streamline cyber risk management and quantification workflows in a single platform. The new Solution includes two Applications, Cyber Risk Management and Controls Compliance, Risk Cloud Quantify®, and the ability to integrate with leading asset and vulnerability management tools. Later this year, the offering will expand to include automated evidence collection to streamline and automate IT control evidence collection for technical teams.
• Self-guided Application installation: We enabled Risk Cloud Power Users with the ability to install and test Applications directly from Risk Cloud Exchange (RCX) in three minutes or less.
• Expanded customer service and guidance: LogicGate’s customer success and services teams launched two new offerings late last year to help customers manage and mature their GRC programs: Technical Account Management and GRC Maturity Workshops. LogicGate Technical Account Managers are seasoned risk management and Risk Cloud experts dedicated to managing and maturing GRC programs in Risk Cloud. GRC Maturity Workshops accelerate program success with a long-term, strategic GRC program roadmap built in collaboration with key stakeholders.

LogicGate’s 2023 Vision and Roadmap

Last year was a busy year for the LogicGate team and there are no plans of slowing down in 2023. This year will bring new ways for customers to learn about all things Risk Cloud with monthly LogicGate Live webinars focused on platform best practices, tips, and tricks, access to Risk Crowd — our growing and vibrant user community — and of course, in-person networking and learning at our fourth annual Agility user conference.

The 2023 Risk Cloud product vision and roadmap promises continued innovation and growth to support our growing customer base, with a laser focus on:

1. Continued investment in platform enterprise readiness
2. Leading the market in cyber risk and controls compliance
3. Delivering on our end-user experience reimagined vision
4. Enabling Risk Cloud Power Users to grow and manage their GRC programs at scale
5. Bringing a holistic and fully-integrated regulatory compliance solution to the financial services industry

These product enhancements will be joined by several new and updated Applications from LogicGate’s GRC Content and Strategy team, including the new Risk Cloud FedRAMP SSP Application in early February. This new Application automates the time-consuming FedRAMP certification process by enabling customers to generate a System Security Plan with just a few clicks.

At LogicGate, we firmly believe our customers’ success is our success. We look forward to another productive and innovative 12 months and cannot wait to help our customers crush their GRC program goals in 2023.

Happy New Year from all of us at LogicGate!