LogRhythm is bullish about its growth prospects in Asia-Pacific (APAC), with its business across the region expected to grow by over 20% this year, according to a senior company executive.
Speaking to Computer Weekly on a recent trip to Singapore, Mitch Rowe, LogRhythm’s chief revenue officer, said its growth in the region is being fuelled by demand from organisations in emerging economies, where investments in cyber security have not kept pace with cyber threats.
“You’ve got a lot of emerging economies like Vietnam, Mongolia and Thailand that historically did not have the level of investment and expertise around cyber security,” Rowe said.
Still, in “competitive markets in established economies” such as Australia, Singapore and Japan, Rowe said there is an opportunity for LogRhythm to displace outdated legacy systems that are no longer being invested in by their suppliers.
LogRhythm, a supplier of security information and event management (SIEM) systems that let organisations aggregate data from multiple sources, identify deviations from the norm and take appropriate action, is up against stiff competition from larger rivals like Splunk and IBM.
“We are very proud of the solution and technology that we have,” Rowe said. “We respect our competitors, and we realise there are certain areas of strength that have allowed them to be successful in the past. We also look at that competitive space and see nothing but great opportunities for ourselves.”
Noting that larger SIEM suppliers “are not necessarily doing a wonderful job fulfilling the needs of their customers, Rowe said the company will continue to engage, be receptive to ideas and collaborate with cyber security professionals within organisations.
In October 2019, LogRhythm introduced a term-based unlimited data plan that lets enterprises ingest as much log data as they want. The move, which was unheard of at the time, was aimed at helping organisations alleviate bill shocks for customers.
Rowe said the unlimited data plan was met with a lot of favour in the market because it solved a big challenge that a lot of organisations had, which was not having a clear understanding of what the overall cost of ownership was going to be over a period of time.
“So, we took the approach of turning that licence into an unlimited licensing model regardless of what your messages per second levels are, enabling teams to ingest whatever log data they desire that's going to strengthen their security posture,” he added.
Rowe said LogRhythm is also looking to develop new capabilities in its offerings to help enterprises do more with technology and automation amid the shortage of experienced and certified cyber security professionals.
To capitalise on the business opportunities in the region, Rowe said LogRhythm will be investing in people, not just in sales, but also engineering, professional services and marketing. It will also focus on channel enablement, noting the company “must lead with a strong partner ecosystem, especially in international markets”.
Read more about cyber security in APAC
- Australia is playing to its strengths in niche areas such as governance and deep tech to punch above its weight in the cyber security industry.
- Singapore’s Ensign Infosecurity answers the top three questions about the impact of the Log4j vulnerability.
- Australian CISOs are under pressure and feel the least prepared globally to deal with the consequences of a cyber attack, study finds.
- Observability platform supplier Coralogix has set up a cyber security venture and a global security resource centre in India to tap the growth opportunities in India.