Alert Logic Breaks Company Records for Sales and Revenue Growth
Alert Logic, a leader in delivering on-demand Security-as-a-Service, today announced that its Q1 2011 sales performance was the best in company history. As Alert Logic executed in partnering with over half of the largest cloud and hosting service providers to provide network security and compliance management solutions for enterprise customers, they experienced GAAP revenue growth in Q1 that was stronger than any previous quarter in the company’s 9-year history.
In Q1 2010, Alert Logic closed long-term recurring revenue contracts producing an additional $2.3 million in Annualized Recurring Revenue (ARR), bringing the company’s total ARR under contract to $20 million. In the fourth quarter of 2009, Alert Logic changed its business strategy to focus on delivering Security-as-a-Service through a diversified sales channel of IT service provider partners, particularly hosting companies. Since making this change, the company has accelerated its revenue growth rate and has consistently set new Alert Logic sales records. “More and more businesses are turning to the cloud, and the top business concern about the cloud is security,” said Gray Hall, Alert Logic’s president and CEO. “Our partners – including hosting providers, cloud service providers, and other managed service providers – are embracing Alert Logic’s Security-as-a-Service model because we provide best-of-class security products and managed services fully integrated with service providers’ delivery and sales models.”