Logpoint created a reliable, innovative cybersecurity operations platform, empowering organisations worldwide to thrive in a world of evolving threats. By combining sophisticated technology and a profound understanding of customer challenges, Logpoint bolsters security teams’ capabilities while helping them combat current and future threats. Mikkel Drucker, CEO at Logpoint, discusses how the company started and its journey since.
Tell us a bit more about your business and how it started.
Logpoint was founded in Denmark as a cybersecurity consultancy to help organisations address the growing need to strengthen cyberdefences. Since then, Logpoint has developed a Security Information & Event Management Solution (SIEM) to give security professionals better visibility of the IT infrastructure and the ability to analyse and investigate cyberthreats. Logpoint SIEM is the foundation of the Cyber Defense Platform that we offer today to help organisations detect, investigate and respond efficiently to threats while maintaining regulatory compliance.
The cybersecurity landscape is complex for organisations and people to navigate. The geopolitical situation has aggravated the cyberthreat with more politically motivated cyberattacks and closer collaborations between ransomware gangs, initial access brokers and nation-state actors. In addition, the emergence of AI and the commoditisation of malware have made the threshold for executing successful cyberattacks. At the same time, cybersecurity teams struggle with tightening cybersecurity regulations and a shortage of cybersecurity professionals, making them susceptible to burnout.
We aim to help organisations in Europe overcome these challenges and make it easier for them to thrive in the digital society. In addition to SIEM, we offer automation, case management and behaviour analytics capabilities to decrease the time security professionals take to detect and respond to cyberthreats. We recently acquired Muninn, a provider of AI-driven Network Detection & Response (NDR), to allow our customers and partners to reap the benefits of combining SIEM and NDR, which enhances visibility and increases the chances of preventing the negative impact of a cyberattack.
How has the business grown since it started and how did you ensure growth?
Logpoint has grown organically and through funding rounds and acquisitions. Logpoint secured its series A funding round in 2017, led by Evolution Equity Partners, and its series B funding round in 2020, led by Yttrium. Logpoint acquired the university-based log management start-up, Immune, in 2018, the SAP security vendor, agileSI, in 2020 and the SOAR vendor, SecBI, in 2021.
In 2023, the Scandinavian Private Equity fund, Summa Equity, acquired a majority stake in Logpoint to establish a European cybersecurity powerhouse as an alternative to the dominating US vendors and to support UN Sustainable Development Goals (SDG) number nine aimed at building resilient infrastructure and number 16 promoting effective, accountable and transparent institutions and public access to information. With the acquisition of Muninn, we amplify our impact on improving cyber-resilience across Europe.
Today, we have 300 employees across our offices in Denmark, Germany, the UK, Sweden, Finland, France, Israel, Nepal and the US, and we’re growing twice as fast as the market. We have three strategic focus areas to increase market shares in the European mid-market and secure profitable growth: strategic acquisitions, expanding channel and MSSP partnerships and attracting cybersecurity talent. We’re strategically positioned to leverage the growth of the cybersecurity market, thanks to our European roots, technology designed specifically for mid-market organisations and strong relationships with customers and partners.
What’s the business’ approach to management?
We strive to have an agile and market-centric approach. That requires a collaborative environment, psychological safety, a strong sense of belonging and a solid feedback culture. It’s important to understand that people are different and have different needs and then honour that. That’s why flexibility is important, although we also see the benefits of physical presence in enhancing collaboration. We also strongly focus on developing new learning and development initiatives to help our employees grow.
We find that our impact on society is really motivating for our employees. It gives them a strong purpose to know that the solutions we’re developing make a difference for our customers, partners and their surroundings by helping them fend off cyberattacks, meet security requirements and allowing them to focus on what really matters to them.
What is your company’s vision and goal?
We aim to co-create a safe digital society where every business and person has the freedom to progress and not worry about cyberthreats.
What kind of clients and market do you serve?
We help European mid-sized organisations and the Managed Security Service Providers (MSSPs) who serve them. Our solutions are designed to meet European legal requirements and safeguard data. Notably, we’re the only European SIEM vendor to hold the Common Criteria EAL3+ certification, a requirement for NATO organisations, underscoring that our systems are robust and ready to handle emerging threats.
Our customers struggle with a shortage of cybersecurity personnel, making it challenging to meet their security requirements and safeguard their business. We strive to make advanced security tooling available to them either directly or through MSSPs.
What has your career looked like so far?
I’m an international technology executive focusing on commercial excellence, scaling SaaS companies and driving profitable growth in Europe, the US and Asia. The common thread throughout my career is technology and turnarounds, which means building a growth engine based on a product that stands out and an organisation that’s capable of getting it to the market. I’m always curious and eager to learn new things about myself and leadership.
What piqued my interest at Logpoint is the dynamic industry addressing one of today’s most pressing societal challenges: cyber-risk. With adversaries becoming more aggressive due to geopolitical tensions, the rise of AI and the growing accessibility of malware, Logpoint is well-positioned to emerge as a leader in the field. My focus is to drive Logpoint’s financial growth and achieve profitable organic ARR growth by expanding market share in the European mid-market through strategic acquisitions, enhancing channel and MSSP partnerships and attracting top cybersecurity talent as the company scales.
How do you equip your staff with skills and knowledge?
We’re committed to helping our employees develop and grow professionally, and that’s the reason we’re focusing on rolling out different learning and development initiatives across the organisation.
How do you work with other executives within the C-suite to make sure your voice is heard?
Our executive team is relatively new, so we spend a considerable amount of time together, ensure we challenge each others thinking and leverage our diversity of thought. We also use an executive coach to ensure continuous development within our team
How do you ensure different teams in your organisation work together?
Ensuring collaboration across teams takes a mix of the right communication channels and a culture fostering honest, specific and constructive feedback, both horizontally and vertically across the organisation. That requires a good portion of psychological safety and a sense of belonging in the organisation. We also have several co-creation initiatives with employees to improve communication and collaboration. Involvement is essential to ensure a good collaboration.