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:
- Recognition: Alert Logic was named a finalist for the Info Security Products Guide Global Excellence Awards in the New Products category, recognized for Alert Logic Cloud Defender launched in November of 2014.
- Expansion: Alert Logic added its sixth global office with expansion into Seattle. The new Seattle office will be staffed by a combination of Engineering, Product Management, Sales, Business Development and Marketing employees. The office will also be home to an Executive Briefing Center designed to engage key customers, prospective customers and partners./li>
- Executive Hires: Brian Forbes joined Alert Logic as Vice President of Partner and Americas Field Marketing. Brian has worked for VMware and Intel and for over 25 years has held a variety of product, alliance and channel marketing roles. For the past 7 years, Brian has been with VMware in partner sales and marketing leadership positions including running its Global Alliance Marketing functions engaging with top technology partners like HP, Dell, IBM, Cisco, EMC and others.
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.