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Sumo Logic snaps up low-key threat forensics startup FactorChain
Sumo Logic Inc. is using the $75 million that it raised last year to establish a stronger presence in the fast-growing cybersecurity market.
The company, which helps enterprises track down issues in their technology infrastructure, today announced the acquisition of a low-key breach analysis provider called FactorChain Inc. The startup was founded in 2015 and hasn’t yet released a product. This would normally suggest the deal was an acquihire, but Sumo Logic said that’s not the case.
FactorChain has spent the past three years developing technology designed to speed up cybersecurity investigations. Dave Frampton, the startup’s chief executive officer, told TechCrunch that the software enables network protection professionals to quickly inspect multiple different systems for potential traces of a cyberattack. He said that queries are carried out in as little as a second or two.
Whenever an analyst discovers something notable, Frampton said that FactorChain’s system can “remember” if the item has come up before. The mechanism thus saves time that might otherwise be spent trying to connect the dots manually, which speeds up the investigation.
Sumo Logic plans to integrate the technology into its log analysis platform. FactorChain’s memorization feature could potentially mesh well with the product’s existing machine learning capabilities, which automatically flag important information for administrators as they evaluate security logs and other operational data.
The financial terms of the deal were not disclosed. However, Sumo Logic did share that FactorChain’s 12-strong team has been brought aboard to help with the product integration effort. Frampton is set to become the company’s vice president of security solutions, while co-founder Tidwell is joining as vice president of security engineering.
Sumo Logic expects to introduce the combined product in the second quarter. In the longer term, in turn, the company could be looking to go public.
Sumo Logic CEO Ramin Sayar reportedly suggested after its $75 million funding round last year that hitting the stock market would be the “next logical step for the company.” But given that the log analysis provider has raised about $230 million to date, any potential IPO is likely still a ways off.
Sayar appeared on SiliconANGLE’s theCUBE mobile studio at AWS re:Invent last month to discuss what his company has been working on:
Image: Sumo Logic
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