Growth rate above 40% as company exceeds $40 million in annualized revenue
April 11, 2013
PRESS RELEASE
HOUSTON – April 10, 2013 – 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 March 31, 2013 of $9.5 million, up 45% from the first quarter of 2012, and up 10.6 percent from the fourth quarter of 2012. Alert Logic's annualized revenue run-rate in the month of March 2013 was more than $40 million, and is tracking ahead of the company's plan to reach a $50 million run-rate by the end of 2013.
All channels recorded strong growth, including Alert Logic's cloud and hosting provider partners and resellers. Alert Logic has more than 2,100 customers using its Security-as-a-Service solutions, both through service providers and directly from Alert Logic.
"Alert Logic has consistently maintained a growth rate in excess of 40% over the past four years as we have broken through the annual revenue levels of $10 million, $20 million, $30 million, and now $40 million," said Gray Hall, Alert Logic's president and CEO. "Demand for our services continues to grow. We are grateful to have so many strong and loyal customers, and such tremendous channel partners. We look forward to continuing to grow our business over the next several years."
Alert Logic's notable highlights for Q1 2013 include:
• Releasing the third-generation of Alert Logic Log Manager, which enables real-time security monitoring of critical security logs. Users can now manage log data from their entire infrastructure – from environments inside enterprise data centers to fully elastic public clouds – in a single console.