Tuesday, January 13, 2015

Alert Logic Hits $70M Run Rate

Houston-based cloud-based security software developer Alert Logic reports this morning that it has just surpassed a $70M run rate in revenues, and has hit 3,000 customers of its product. According to the privately held firm, it had $58M in GAAP revenues for its fiscal year ending Deember 31, 2004, a 38 percent growth over 2013. Alert Logic is led by Gray Hall. It's fairly unusual for privately held companies to release details on their revenues; it looks like this is the first time that Alert Logic has exposed details of its financial results to the public, which generally does not happen unless a company is seeking an IPO, private equity investment, or buyers.