Alert Logic, a provider of Security-as-a-Service solutions for the cloud, has announced its Q1 2016 results. The company has achieved total contracted recurring revenue exceeding a $103 million annualized run-rate.
“Achieving $100 million in annualized run-rate is a significant milestone for a cybersecurity company,” said Gray Hall, CEO of Alert Logic. “This is undeniable evidence of strong cloud adoption and customer validation of our strategic approach to cybersecurity — combining market-leading technologies with 24×7 security monitoring and cloud deployability to secure business critical IT infrastructures.”
The global cloud security solutions provider continues to expand its presence in Europe. In addition to opening an office in London and a Security Operations Center (SOC) in Cardiff, Wales in 2014, Alert Logic has continued its expansion into EMEA by announcing a security research and technology development center in Belfast, Northern Ireland.
Alert Logic revenue is derived through long-term subscription contracts, consistent with the company’s SaaS business model. Alert Logic‘s cloud security solutions are sold directly to enterprise customers and through a diversified channel of resellers and cloud service provider partners.