Cyber security firm LogRhythm raises $50 million after changing IPO plans

By Heather Somerville SAN FRANCISCO (Reuters) – Cyber security company LogRhythm has raised $50 million from private investors after postponing plans for an initial public offering late last year, the company said on Tuesday, the latest sign of how austere the IPO market has become for some technology start-ups. LogRhythm selected bankers more than a year ago with an eye on a $1 billion-plus IPO in the second half of 2015, Reuters reported last year. “We definitely were contemplating an IPO,” said Dave Welsh, a partner at Adams Street Partners and LogRhythm investor and board member.

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