Company surpasses $77M in run-rate revenue and 3,200 customers
HOUSTON – April 15, 2015 – Alert Logic (www.alertlogic.com), the leading provider of Security-as-a-Service solutions for the cloud, today announced GAAP revenues for the quarter ending March 31, 2015 of more than $18.2 million, up 42 percent from the first quarter of 2014. Alert Logic’s annualized revenue under contract in the month of March 2015 exceeded $77 million, and is tracking ahead of the company’s plan to reach an $85 million run-rate by the end of Q2 2015. Alert Logic currently has more than 3,200 customers using its cloud Security-as-a-Service solutions to protect their networks and data, across cloud, hosting and on-premises environments.
“As businesses continue to move to the cloud, they find it difficult to make traditional security products function as intended in dynamic cloud environments,” said Gray Hall, Alert Logic’s CEO. “As the first security provider to bring to market a scalable, SaaS, fully-managed security solution designed from the ground up to serve business customers of the leading global cloud platforms, Alert Logic is positioned to continue its strong historical growth trends and we remain focused on being the premier provider in this market.”
Alert Logic’s notable highlights for Q1 2015 include:
A privately held company, 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 to enterprise customers directly and through a diversified channel of resellers and cloud service provider partners.
Alert Logic specializes in providing a portfolio of Security-as-a-Service solutions for customers of hosting and cloud service providers. 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.
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 4,000 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 24x7 Security Operations Centers. Alert Logic, founded in 2002, is headquartered in Houston, Texas, with offices in Austin, Seattle, Dallas, Cardiff, Belfast and London. For more information, please visit www.alertlogic.com.
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