Alert Logic Breaks Company Sales Record for Second Time in 2010
Alert Logic, the leading provider of log management, intrusion detection and cloud security solutions for enterprises and service providers, today announced that its Q3 2010 sales performance was the best in company history. As Alert Logic approaches its 9-year anniversary at year end, the company has set all-time sales records for its managed security servicesin two out of three calendar quarters this year, resulting from a strategy shift in Q4 2009.
In Q3 2010, Alert Logic closed long-term recurring revenue contracts producing an additional $2.16 million in Annualized Recurring Revenue (ARR), exceeding the record of $2.04 million set in Q1 2010. This brings the company’s total ARR under contract to $16 million. The first quarter of 2010 was Alert Logic’s first full quarter of sales after changing its business strategy to focus on developing a robust sales channel of IT service provider partners, particularly hosting companies. Since making this change, Alert Logic has set new sales records in two out of three quarters.
“Security is becoming increasingly important in the hosting and cloud services industry,” said Greg Davis, Alert Logic’s vice president of sales. “Our partners, including hosting providers, cloud service providers, and other managed service providers, understand that their customers want best-of-breed security and compliance solutions as part of a broader IaaS offering. Alert Logic allows service providers to deliver the best security solutions available, fully integrated with their service delivery models.” Alert Logic plans to announce its Q3 2010 financial results, including GAAP revenues and key business milestones achieved later this month.