Company exceeds $50 million in annualized revenue; surpasses 2,400 customers
HOUSTON – Alert Logic (www.alertlogic.com), the leading provider of Security-as-a-Service solutions for the cloud, today announced that 2013 marked another year of record growth. The company recorded $42.2 million in GAAP revenue for the fiscal year that ended December 31, 2013, which represents a 42% increase in revenue over 2012. Alert Logic’s annualized revenue run rate at year end reached $51.7 million.
“Exceeding our ambitious financial goal of $50 million this year and maintaining our consistent growth rate in excess of 40% is further evidence that our disruptive business model is successfully addressing the key security challenges within the industry,” said Gray Hall, Alert Logic’s CEO. “We expect to continue our trend of achieving aggressive financial goals in 2014, as we advance our product capabilities and exceed our customers’ expectations with our unique security and compliance outcomes.”
Alert Logic currently has more than 2,400 customers using its cloud Security-as-a-Service solutions to protect their networks and data, both via service providers and direct customers.
Alert Logic’s notable highlights for 2013 include:
· Product Releases: In 2013, Alert Logic successfully launched new versions of each major product offering—Alert Logic Log Manager, Alert Logic Threat Manager for Cloud and Alert Logic Web Security Manager for Cloud.
· Public Cloud Expansion: Alert Logic launched its security solutions in multiple public clouds, including the Amazon Web Services Cloud and Windows Azure.
· Recapitalization: Alert Logic completed a recapitalization transaction led by Welsh Carson Anderson & Stowe, in which Welsh Carson acquired a majority interest in Alert Logic.
· Team Expansion: During the year, the company grew to over 350 total employees and added a number of key executive hires including Ben Matheson as Chief Marketing Officer, David Howorth as VP of UK Sales and Stephen Fulkerson as VP of Customer Success. The Company also added industry veteran Jim Lewandowski to its Board of Directors.
· Industry recognition: Alert Logic was named:
o A leader in the emerging MSSP category in “The Forrester Wave: Emerging Managed Security Service Providers, Q1 2013”
o A “Cool Vendor” in the Cool Vendors in Security: Security Services, 2013 report by Gartner, Inc.
o To Inc. Magazine’s 500/5000 list of America’s fastest-growing private companies for a second consecutive year
o A Best in Biz Award Winner, with press and industry analysts giving Threat Manager for Cloud theSilver award: Most Innovative Product of the Year
o Winner of the Cloud Computing Excellence Award by Cloud Computing Magazine for its Threat Manager for Amazon Web Services (AWS)
For a full list of Alert Logic media awards and analyst acknowledgements, click here.
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 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 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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About Alert Logic
Alert Logic, the leading provider of Security-as-a-Service solutions for the cloud, provides solutions to secure the application and infrastructure stack. By integrating advanced security tools with 24×7 Security Operations Center expertise, customers can defend against security threats and address compliance mandates. By leveraging an “as-a-Service” delivery model, Alert Logic solutions include day-to-day management of security infrastructure, security experts translating complex data into actionable insight, and flexible deployment options to address customer security needs in any computing environment. Built from the ground up to address the unique challenges of public and private cloud environments, Alert Logic partners with over half of the largest cloud and hosting service providers to provide Security-as-a-Service solutions for business application deployments for over 2,400 enterprises. Alert Logic is based in Houston, Texas, and was founded in 2002. For more information, please visit www.alertlogic.com.