LogicGate Raises $7.5 Million to Accelerate Risk and Compliance Automation
CHICAGO – January 8, 2019 – LogicGate, an agile process automation platform for governance, risk, and compliance, today announces significant company growth in 2018, new additions to the leadership team, and plans to hire in 2019.
During Q4, LogicGate welcomed two new executives to its senior leadership team: Kevin Jacobson, as Chief Financial Officer, and Karry Kleeman, as Chief Revenue Officer. In his new role as CFO, Jacobson will guide LogicGate’s financial strategy and business operations. Prior to LogicGate, Jacobson was the CFO at Kapow, an industry-leading corporate events platform. Kapow was acquired by Cvent, the world’s leading corporate event software provider and a portfolio company of Vista Equity Partners, in June 2018. Prior to Kapow, Jacobson spent time in technology investing at Summit Partners and technology investment banking at William Blair.
As CRO, Kleeman is tasked with driving top-line growth for the company by further developing and refining the sales strategy. Previously, Kleeman was the CRO at SpringCM, a global leader in Cloud Contract and Document Management Solutions. During his time at SpringCM, Kleeman helped guide the company to its acquisition by DocuSign in September 2018.
“LogicGate is taking a path counter to many – it’s not ‘unicorn or bust’ for us. We are building a high-growth company in an important market that our customers, investors, and employees can all be proud of,” said Jacobson. “And with the team’s passion, drive, and dedication, in addition to outstanding investors like Jeff Weiner [LinkedIn CEO], we have what we need to execute on our vision of becoming the industry’s leading GRC platform.”
In 2018, LogicGate more than doubled its team size and increased revenue by over 175 percent. The company also increased its customer roster by more than 150 percent, signing new clients including Blue Cross and Blue Shield of Kansas City and CAPCO. LogicGate’s dominance in the market is reinforced by its inclusion in the Forrester New WaveTM: GDPR And Privacy Management Software, Q4 2018. With aspirations to grow in 2019, the company is currently looking for more salespeople, engineers, and marketing staff to join the team.
“Businesses are demanding consumer-grade solutions to solve their risk management problems,” said Kleemen. “Given current demand, the GRC space is an extremely active marketplace, making it an exciting time for LogicGate. Over the next year, I am committed to helping build the LogicGate team with the ultimate goal of becoming the world’s leading GRC platform.”
This announcement follows LogicGate’s $7.5 million Series A round in July. For more information about LogicGate, visit LogicGate.com.
Headquartered in Chicago, LogicGate is an agile GRC process automation platform that enables organizations to automate and centralize risk and compliance programs. LogicGate’s highly configurable platform assists organizations in transforming mission critical governance, risk, and compliance processes without the support of consultants or corporate IT by enhancing controls and increasing flexibility. Dashboard-style reporting within the platform allows risk and compliance teams to analyze and remediate issues immediately. LogicGate has been named to the Global RegTech 100 list two years in a row. For more information, visit LogicGate.com and follow LogicGate on Twitter at @LogicGateApp.
BLASTmedia for LogicGate