Wednesday, April 15, 2015

Alert Logic: $77M Run Rate, 3200 Customers

Houston-based Alert Logic says it has surpassed a $70M annual run rate, and now has more than 3,200 customers, as the company reported Q1 results of more than $18.2M in revenues. The privately held firm--which, quite unusually, is publicly reporting its financial results--said revenues were up 42 percent from the first quarter of 2014. Alert Logic offers up cloud-based, security software, and is led by Gray Hall. The release of results by privately held companies is quite unusual, and typically only happen when companies are considering either an IPO or are hoping to make themselves attractive to strategic buyers. Alert Logic said it expects to reach an $85M run rate by the end of Q2. Alert Logic was acquired by private equity investor Welsh, Carson, Anderson & Stowe back in 2013, back when the company had somewhere around $30M in annual revenues.