Alert Logic: Managed IT Security Sales Remain In Growth Mode
Alert Logic, the managed IT security specialist, says Q2 revenues were $5.1 million, up a healthy 41 percent from Q2 2010. Equally interesting, Alert Logic President and CEO Gray Hall said that the company’s book of business is now over $20 million in recurring revenue. Among the big reasons for that success: Growing support from channel partners for its SaaS solutions.
Alert Logic’s managed IT security platform includes a fully outsourced and managed SaaS delivery model; an integrated, 24×7 security operations center (SOC); and security tools that are deployable in multiple types of customer environments, including a cloud network. “Our revenue results are ahead of plan for the first half of 2011,” Hall said in a prepared statement.
Privately held companies like Alert Logic are not required to issue quarterly results. Alert Logic says it will now issue quarterly reports to show the increasing adoption of Alert Logic’s on-demand SaaS offerings among its 1,400 current customers.