LogRhythm has over 4,000 customers worldwide and 561 employees across 9 locations. LogRhythm is a security company known for network monitoring, security analytics, log management, and security information management. LogRhythm is an independent vendor of SIEM (security information and event management). Top Splunk Competitors & Alternatives LogRhythm Today, the industry uses distributed architectures like microservices, containers, and hybrid clouds.Īs a result, businesses now have access to new, less expensive solutions, more practical, and more effectively optimized for managing their log data. However, over the last decade, there has been a significant shift in the landscape of log management. The company’s emphasis on log analysis and security incident and event management (SIEM) has made it the product of choice for businesses that generate a significant amount of machine data and log files. Splunk emerged among the most successful log management solutions shortly after its initial release in 2007. Moreover, Splunk is the dominant player in the $49.7 billion security information and Event Management (SIEM) market, with a 29 percent market share. The company, which currently holds a commanding share of the IT operations management market, valued at $13.3 billion, is clearly in the driver’s seat in this sector. The company has also expanded its platform through mergers and acquisitions, including the acquisition of Phantom Cyber for $350 million in 2018 and SignalFx for $1.05 billion in 2019. The company offers a variety of products, including Enterprise, Cloud, Data Stream Processor, and more. Splunk offers a variety of products, including IT Service Intelligence, User Behavior Analytics, Asset Performance Management, and Infrastructure Monitoring. Splunk has experienced a meteoric rise, driven by the need to analyze enormous amounts of data, resulting in sales of $2.229 billion for the year 2021 and a stock price of $156.60 per share as of September 1st. Splunk’s client list continues to grow and now includes 92 of the Fortune 100’s most successful organizations, such as Cisco, Bosch, IBM, Adobe, and Visa. The company’s focus has shifted from selling search appliances to offering big data analytics applications centered around IT operations and security since its founding in 2003. The company was also recognized on the Fortune 1000 list for 2020. Gartner positioned Splunk as a Leader for Security Information and Event Management in 2020.
Michael Baum, Rob Das, and Erik Swan were the ones that came up with the idea for Splunk in 2003.
Splunk, a company specializing in information technology, develops software that monitors, searches, analyzes, and visualizes machine-generated data in real-time. (Splunk) specializes in creating tools for analyzing and visualizing real-time data, making it a leading provider of operational intelligence software.