Company surpasses $60M in run-rate revenue and 2,700 customers
HOUSTON, TX – July 23, 2014 – Alert Logic (www.alertlogic.com), the leading provider of Security-as-a-Servicesolutions for the cloud, today announced GAAP revenues for the quarter ending June 30, 2014 of $13.8 million, up 36 percent from the second quarter of 2013. Alert Logic’s annualized revenue under contract in the month of June 2014 exceeded $60 million, and is tracking ahead of the company’s plan to reach a $70 million run-rate by the end of 2014. Alert Logic currently has more than 2,700 customers using its Security-as-a-Service solutions to protect their networks and data across cloud, hosted and on-premises environments. “At the outset of 2014, we felt we had the opportunity to build our business to $60 million in revenue by mid-year, and break through $70 million by year-end,” said Gray Hall, Alert Logic’s CEO. “Our ongoing progress is a testament to strong customer demand for modern security tools and services designed from the ground up to protect cloud-based applications.” Alert Logic’s notable highlights for Q2 2014 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 Security-as-a-Service 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 Security-as-a-Service 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 Security-as-a-Service 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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