-- Company surpasses $65M in run-rate revenue and 2,800 customers
HOUSTON, Oct. 28, 2014 /PRNewswire/ -- 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 September 30, 2014 of $15.0 million, up 39 percent from the third quarter of 2013. Alert Logic's annualized revenue under contract in the month of September 2014 exceeded $65 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 2,800 customers using its cloud Security-as-a-Service solutions to protect their networks and data, both via cloud service providers and direct customers.
"Enterprise customers want security for their business critical applications in the cloud, and Alert Logic's model of delivering security-as-a-service is the preferred method of achieving security in the cloud," said Gray Hall, Alert Logic's CEO. "Our rapid growth over the past several years is only the beginning of a new trend in the IT security industry. Businesses are choosing Alert Logic's innovative approach to cloud security at an increasing rate, and we look forward to continuing to accelerate this trend over the next several years."
Alert Logic's notable highlights for Q3 2014 include:
Product Updates: Alert Logic announced support for several more of the leading global cloud platforms, making Alert Logic's suite of security-as-a-service solutions available on the following cloud platforms: Amazon Web Services, Microsoft Azure, Google Cloud Platform, Rackspace Cloud, and VMware vCloud Air, in addition to others.
Recognition: Alert Logic achieved recognition as part of the 2014 Inc. 5000 list and the Houston Business Journal's Fast 100 list. In addition, Alert Logic was ranked no. 1 on the Houston Business Journal's fastest-growing Houston-Area Security Companies list.
International Expansion: Alert Logic announced its continued international expansion into EMEA with the completion and launch of its UK-based datacenter. 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 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.
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 2,800 organizations worldwide. Built for cloud scale, our patented platform stores petabytes of data, analyzes over 400 million events and identifies over 50,000 security incidents each month, which are managed by our 24x7 Security Operations Center. Alert Logic, founded in 2002, is headquartered in Houston, Texas, with offices in Seattle, Cardiff and London. For more information, please visit www.alertlogic.com.