Company surpasses $60M in run-rate revenue and 2,700 customers
HOUSTON â€“ 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 June 30, 2014 of $13.8 million, up 36 percent from the second quarter of 2013. Alert Logicâ€™s annualized revenue under contract in the month of June 2014 exceeded $60 million, and is tracking ahead of the companyâ€™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.
â€śAt 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,â€ť said Gray Hall, Alert Logicâ€™s CEO. â€śOur 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.â€ť
Alert Logicâ€™s notable highlights for Q2 2014 include:
Â· Product Updates: Alert Logic released new security solutions for the Microsoft Azure platform, making Alert Logic Threat Manager and Alert Logic Web Security Manager available on the Microsoft Azure cloud platform.
Â· Recognition: Alert Logic was recognized for its innovative approach to cloud security by receiving a Silver Award in the Cloud Security category as part of Network Products Guideâ€™s 9th Annual 2014 Hot Companies and Best Products Awards. Additionally, TMCnet recognized Alert Logic Threat Manager with ActiveWatch as part of its 2014 Cloud Computing Excellence Awards.
Â· International Expansion: Alert Logic announced its international expansion into EMEA, which will include a UK-based datacenter and Security Operations Center, as well as expanded sales, marketing and support teams. The EMEA presence will address the growing demand for security and compliance solutions from European customers by providing local support for the needs of those businesses and industries.
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 Logicâ€™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 companyâ€™s Security-as-a-Service business model. Alert Logicâ€™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 Logicâ€™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 24Ă—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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About Alert Logic
Alert Logic provides security and compliance for cloud, hybrid, and on-premises infrastructure, allowing customers to benefit from deep security insight and continuous protection at a lower cost than legacy security offerings. 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 is deployed. Alert Logic partners with the leading cloud platforms and hosting providers to protect over 2,700 organizations worldwide. Built for cloud scale, our patented platform manages Petabytes of data, analyzes 255 million security events monthly, and identifies 40,000 incidents a month that are managed by our security operations team. Alert Logic is based in Houston, Texas, and was founded in 2002. Alert Logic recently expanded internationally by establishing UK offices in London and Cardiff. For more information, please visit www.alertlogic.com.