Alert Logic Sees 43 Percent Jump in Q2

Alert Logic, a Security-as-a-Service solution provider for the cloud, is expected to announce $10.1 million in revenue for the most recent quarter.

That represents a 43-percent increase when compared to Q2 of 2012. Also, the Q2 of 2013 is a 7-percent increase compared to Q1 of 2013.

The financial report is expected to be released this week.

In addition, the financial report shows that Alert Logic saw annualized revenue under contract during June 2013 of over $43 million. It appears to be more than the projection to reach a $50 million run-rate by the end of this year.

Alert Logic also recently released Threat Manager for Cloud and Log Manager solutions. These led to over 100 Amazon Web Services customers.

"Our strong growth this quarter keeps us on track to reach our goal of being a $50 million business by the end of 2013," Gray Hall, Alert Logic's president and CEO, said in a company statement. "Our new product releases from the second half of 2012 and the first half of 2013 helped fuel our growth this quarter, and we expect a similar boost in the future from the exciting new products and capabilities we plan to launch in the second half of 2013."

More than 2,200 customers are using the company’s Security-as-a-Service solutions. They are provided through service providers or are available via Alert Logic.

Earlier in the year, the company was named a "Cool Vendor" by Gartner in its 2013 Security Services report. Alert Logic was honored for its business model, ability in intrusion detection, as well as “vulnerability assessment, log management and Web application firewall Security-as-a-Service solutions and cloud-based architecture.”

“We are pleased to be included in the Cool Vendor 2013 report by Gartner,” Hall said in May in a company statement. “We are firmly committed to our mission of delivering superior security and compliance outcomes for cloud-enabled IT infrastructures. We see inclusion in this report as a strong validation of our strategy of delivering leading edge security solutions through a fully managed Software-as-a-Service model.”