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.”
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About Alert Logic Alert Logic, the leader in security and compliance solutions for the cloud, provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Fully managed by a team of experts, the Alert Logic Security-as-a-Service solution provides network, system and web application protection immediately, wherever your IT infrastructure resides. Alert Logic partners with the leading cloud platforms and hosting providers to protect over 3,300 organizations worldwide. Built for cloud scale, the Alert Logic patented platform stores petabytes of data, analyses over 400 million events and identifies over 50,000 security incidents each month, which are managed by its 24×7 Security Operations Center. Alert Logic, founded in 2002, is headquartered in Houston, Texas, with offices in Seattle, Dallas, Cardiff, Belfast and London. For more information, please visit www.alertlogic.com.