43% year-over-year growth; surpassed 2,000-customer milestone
HOUSTON, TX – January 15, 2013 – Alert Logic, the leading provider of Security-as-a-Service (SaaS) solutions for the cloud, today announced that 2012 marked another year of record growth. The company recorded $30.6 million in GAAP revenue for the fiscal year that ended December 31, 2012, a 43 percent increase over the same period in 2011. The company’s annualized revenue run-rate at quarter-end was $37 million. Alert Logic also announced that through its relationships with leading cloud providers, VARs and direct customers, more than 2,000 enterprise customers now use Alert Logic’s cloud-powered products and services to protect their networks and data. “We began 2012 with ambitious goals and ended the year ahead of plan,” said Gray Hall, Alert Logic’s president and CEO. “Breaking through the milestones of $30 million in revenue and 2,000 customers, while maintaining growth in excess of 40 percent, is further proof that Alert Logic is disrupting the security industry with a new and better model, and that we are unique in the cloud security landscape in the degree to which we have grown and scaled our new model.” Among Alert Logic’s notable highlights for 2012:
Although privately held, Alert Logic publicly reports its Generally Accepted Accounting Principles (GAAP) revenue results and growth rates quarterly, in addition to its annualized recurring revenue under contract. Alert Logic’s financial statements have been audited in accordance with GAAP since 2005. All Alert Logic revenue is derived through long-term subscription contracts, consistent with the company’s SaaS business model. Alert Logic’s solutions are sold directly to enterprise customers and through a diversified channel of resellers and cloud service provider partners. Alert Logic specializes in providing a portfolio of SaaS solutions for customers of hosting and cloud service providers. More than half of the largest managed hosting and cloud service providers use Alert Logic to secure their customer environments, making Alert Logic the de facto standard for securing infrastructure in hosted and cloud environments. Alert Logic’s Security-as-a-Service solutions provide customers four distinct advantages: market-leading security tools, a fully outsourced and managed SaaS delivery model, integrated 24×7 Security Operations Center (SOC) services to monitor and provide expert guidance, and the ability to deploy wherever a customer has IT infrastructure, including the cloud.
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