Funding: Alert Logic Raises Another $12.6 Million In Financing
Back in January, MSPmentor took a look at Alert Logic‘s growth strategy. Fast forward to the present, and the SaaS security company has secured $12.6 million Series E financing. The new funds will help to fund Alert Logics’ managed security service capabilities, according to a prepared statement.
The latest funding was led by a variety of existing investors, including Updata Partners, Covera Ventures, DFJ Mercury and Access Venture Partners. In a show of confidence, investors say they see Alert Logic as strategically set to provide services that are becoming essential in today’s business landscape. Carter Griffin, general partner at Updata Partners, says “Alert Logic sits at the nexus of two of the strongest trends in IT: the proliferation of security and compliance mandates such as PCI, and the migration of infrastructure to the cloud.”
No doubt, more investment money continues to flow into the cloud computing market. Logicworks, for instance, recently raised $7.6 million from Seaport Capital. The money will help Logicworks extend its infiniCloud platform and marketing initiatives.
Publicly held SaaS and cloud companies also continue to perform well. The Talkin’ Cloud Stock Index, for instance, was up nearly 20 percent during Q1 2011.