LogicMonitor's Business Results Highlight Global Demand for Hybrid Observability

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Feb 08, 2024, 09:00 ET

Strategic investments in AI and automation in the LM Envision platform are driving revenue and customer growth

SANTA BARBARA, Calif., Feb. 8, 2024 /PRNewswire/ -- LogicMonitor, the leading SaaS-based hybrid observability platform powered by AI for enterprises, announces continued business momentum in 2023, amidst a dynamic market landscape. Business performance was driven by Enterprise customer acquisition and geographic expansion, evident in the following results:

Compound Annual Growth Rate: Sustained an organic CAGR of 36% in the last five years
Multi-product momentum: Number of customers spending greater than $100k+ growing at 50% CAGR over last five years, of which more than two-thirds use more than one product
Growing and diversifying customer base: Serviced ~2,400 customers total, with over 30% of new customers representing regions outside of the United States

"Most organizations operate in complex, fractured environments. Our growth is because we are the leading technology that can combine a single resource view for hybrid infrastructure, both on-prem and cloud," said Christina Kosmowski, CEO, LogicMonitor. "We partner with the largest global organizations to accelerate their digital transformation strategy in scaled, hybrid environments."

New frontiers in hybrid observability powered by AI
The company has continued to transform IT and AI operations with hybrid coverage, layered intelligence, and a unified experience by releasing:

Log Analysis: Log Analysis transforms the unstructured information in logs to rich insights and context, empowering operations teams at any level to perform troubleshooting
Co-Pilot Admin: LogicMonitor's new generative AI-based tool assists users in their day-to-day operations through an interactive, chat-like experience, reducing administrative burden on IT and Cloud Operations teams, and allowing them to focus on innovation and customer satisfaction
Dexda: Now generally available, Dexda puts AI to work and supercharges productivity by customizing and automating alert correlation, contextualization, prioritization and incident management, personalized to each business's unique needs
UIv4: LM Envision's new user interface offers a multitude of features designed to enhance user experience and productivity in complex and hybrid environments, including Resource Explorer and Data Point Analysis

For more information on LogicMonitor's latest product innovations, please visit the company's blog. For more information on LogicMonitor's recent industry recognitions and customer stories, please visit the company's press page.

About LogicMonitor

LogicMonitor® offers hybrid observability powered by AI. The company's SaaS-based platform, LM Envision, enables observability across on-prem and multi-cloud environments. We provide IT and business teams operational visibility and predictability across their technologies and applications to focus less on troubleshooting and more on delivering extraordinary employee and customer experiences. For more information, visit www.logicmonitor.com and our blog, or follow us on LinkedIn, X, Facebook, and Youtube.

SOURCE LogicMonitor