Company surpasses $91M in run-rate revenue and 3,500 customers
HOUSTON, Oct. 14, 2015 /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 ended September 30, 2015 of more than $20.8 million, up more than 39 percent from the third quarter of 2014. Alert Logic's annualized revenue under contract in the month of September 2015 exceeded $91 million, up from just over $70 million at the beginning of the calendar year. Alert Logic currently has more than 3,500 customers using its cloud Security-as-a-Service solutions to protect their networks and data, across cloud, hosting and on-premises environments.
"With the strong growth of cloud computing, cybercriminals are increasingly targeting cloud deployments, attempting to break into a growing number of applications with ever-more mission critical data being deployed there," said Gray Hall, Alert Logic's CEO. "Businesses are meeting this challenge by choosing cybersecurity vendors that provide both the technologies and the fully managed services to help keep their customers' data safe."
Alert Logic's notable highlights for Q3 2015 include:
- Product Updates: Alert Logic announced the availability of Alert Logic Cloud Insight, a cloud-native vulnerability and configuration management solution designed for customers running on Amazon Web Services (AWS).
- Recognition: Alert Logic Cloud Defender was recognized with a 2015 Cloud Computing Excellence Award by TMC.net and Cloud Computing Magazine and included on the Inc. 5000 list and Houston Business Journal's Fast 100 list of fastest-growing Houston-area companies.
- Executive Hires: Prabuddha Biswas joined Alert Logic as Chief Technology Officer. Prabuddha brings almost 30 years of engineering and research experience to Alert Logic having held senior executive engineering positions at Medio Systems, Smartdesktop, Amazon and Oracle Corporation. Most recently, he served as Vice President of Engineering at Airbiquity.
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 24x7 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.
About Alert Logic
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 3,500 organizations worldwide. Built for cloud scale, our patented platform stores petabytes of data, analyses 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, Dallas, Cardiff, Belfast and London. For more information, please visit www.alertlogic.com.
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