– Former CEO Kevin McGibben transitions to Executive Chairman as part of succession plan –
– Company announces strong 2021 momentum with more than $150 million in annually recurring revenue and 50%+ year-over-year growth –
– Leading tech execs join to support accelerating growth, CRO and CFO announced –
LogicMonitor, the leading SaaS-based observability and IT operations data collaboration platform for enterprises and managed service providers (MSPs), announced a planned leadership transition with the appointment of former President Christina Kosmowski as Chief Executive Officer, and the ascension of former CEO and founding executive Kevin McGibben to Executive Chairman.
“On behalf of the Board, I want to thank Kevin for his innumerable contributions and leadership over the last decade as CEO of LogicMonitor”
Coming off a record 12 months of 50%+ year-over-year growth and a market opportunity expected to exceed $100 billion by 2024 according to IDC, this planned leadership transition marks a new phase in the company’s trajectory. As part of the transition, LogicitdMonitor is announcing the appointments of two additional C-level executives with experience guiding hypergrowth companies, including Carol Lee as Chief Financial Officer and Will Corkery as Chief Revenue Officer. The leadership changes announced today became effective January 1.
“Over her past year at LogicMonitor, Christina has proven herself to be the ideal executive to build on our momentum and accelerate the company’s leadership position within the observability space,” said Kevin McGibben, Executive Chairman, LogicMonitor. “Evolving customer needs signal ever-increasing requirements for business resiliency and transparency – not just as a priority for IT teams, but as a C-suite imperative. Christina’s accomplishments at LogicMonitor, her extensive track record of driving customer success throughout her career at other hypergrowth companies in their scaling phases such as Salesforce and Slack, and her keen focus as an advocate for partner success make me supremely confident that she is the right leader to shepherd LogicMonitor’s next stage of growth.”
Kosmowski’s appointment as Chief Executive Officer is the culmination of a year-long partnership with McGibben to accelerate LogicMonitor’s business growth trajectory. She joined LogicMonitor in December of 2020 as President, overseeing the company’s day-to-day operations, go-to-market strategy, research and development, and customer success practices. Kosmowski worked closely with McGibben in his former role as CEO to forge a strategic path for LogicMonitor in the evolving IT industry, while setting the stage for an orderly leadership succession. Prior to joining LogicMonitor, Kosmowski served in executive roles at both Slack and Salesforce, with a focus on customer success.
“Behind every modern digital business is an IT and tech team that must deliver 24/7 to keep the company up and running today while innovating to stay ahead of tomorrow, so there has never been a more opportune time to position LogicMonitor as the trusted partner of the C-suite,” said Christina Kosmowski, CEO, LogicMonitor. “Global enterprises, managed service providers and partners are all turning to LogicMonitor to maximize existing technology investments and ensure an uninterrupted, exceptional customer and employee experience. Our momentum is built upon the incredible foundation established by Kevin’s leadership; we thank him, and I look forward to continuing our partnership in his new Executive Chairman role.”
In his nearly eleven years as CEO of LogicMonitor, McGibben successfully positioned LogicMonitor to be the leader of the rapidly growing IT observability market. During his tenure, the company grew from less than $1 million to over $150 million in ARR (annually recurring revenue), successfully introduced differentiated product innovations, integrated key acquisitions to extend the company’s product and services portfolio, and built an award-winning workplace culture.
LogicMonitor Momentum Attracts Top Talent
LogicMonitor said that Kosmowski moved quickly to build out her new leadership team with the appointment on January 1 of two key executives who will report directly to her:
- Carol Lee has been named as Chief Financial Officer. Lee joins LogicMonitor having most recently served as CFO at leading software brands Wrike and GoodData.
- Will Corkery has been named Chief Revenue Officer. Corkery most recently served as CRO at Boomi.
Lee and Corkery join other talented and experienced tech industry executives who have recently joined LogicMonitor. In Q1 2021, Ryan Kam became Chief Marketing Officer and reports to Kosmowski on the executive leadership team.
2021: A Record Year
LogicMonitor announced impressive momentum for 2021, fueled by increasing demand from enterprises seeking full visibility into complex, hybrid IT infrastructures driven by the rapid acceleration of businesses to digital and cloud given the global pandemic:
- Overall, LogicMonitor has delivered approximately 300% organic growth over three years, with 50%+ year-over-year growth in 2021;
- Annual recurring revenue (ARR) exceeded $150 million in 2021;
- 75,000+ software users across 30 different countries leverage the LogicMonitor platform to gain critical visibility into and control over their complex IT environments to deliver uninterrupted customer and employee experiences; and
- LogicMonitor’s cloud-based, AI-infused platform monitors six billion metrics per day across two million active devices, ranging from networks and servers to modern public and hybrid cloud environments, providing an effortless way for disparate teams to view and act upon key organizational and IT data within one unified platform.
“On behalf of the Board, I want to thank Kevin for his innumerable contributions and leadership over the last decade as CEO of LogicMonitor,” said Marc Teillon, Senior Managing Director of Vista Equity Partners. “Kevin has led LogicMonitor through incredible scaling, numerous successful acquisitions and critical product innovations since the company’s inception. Now, with Kevin’s presence as Executive Chairman, and Christina’s track record of success in scaling high-growth companies, LogicMonitor is once again setting itself apart from its peers with a succession that provides both continuity and accelerated momentum.”