Alert Logic Cloud Security Revenues Grow 44 Percent
Life seems good for Alert Logic, the which develops a SaaS-based security service for MSPs. For its fiscal year 2011, revenues rose 44 percent to $21.4 million, and annualized recurring revenues have hit $25 million. The figures sound promising — though MSPmentor does not have access to Alert Logic’s net income information.
If you look deeper into Alert Logic’s 2011 revenue figures, you won’t find peaks and valleys. The SaaS provider showed growth each quarter, culminating with Q4 2011 revenues of $6.1 million. That’s a 45 percent increase compared to Q4 2o10. Alert Logic President and CEO Gray Hall (pictured), in a prepared statement, said Alert Logic has plans to “continue accelerating our rate of growth in 2012 and beyond.”
Alert Logic’s 2011 revenue report isn’t surprising if you followed the company’s body of work throughout 2011. Here’s a look at some Alert Logic accomplishments.
- Teamed-up with Tenzing Managed IT Services on a managed security solution
- Raised $12.6 million in financing
- Saw more MSPs leverage its SaaS tools
- Launched the Alert Logic Cloud Acceleration Partner Program
- Teamed with DataPipe on a network security solution for Amazon EC2
Alert Logic hasn’t wasted anytime implementing its 2012 strategy either. The company hired Chris Noell as its VP of product management to lead the company’s product expansion plans.