Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybersecurity Funding

Alert Logic Closes $12.6 Million Funding Round

Alert Logic, a Houston, Texas based provider of Security-as-a-Service solutions, today announced that it has closed a $12.6 million Series E financing.

Alert Logic, a Houston, Texas based provider of Security-as-a-Service solutions, today announced that it has closed a $12.6 million Series E financing.

Alert Logic plans to use the proceeds of the recent financing to scale out its business model of delivering Security-as-a-Service solutions through a strategic channel of service provider partners. The company says it plans to broaden its product and service portfolio and improve its existing Software-as-a-Service and Managed Security Service capabilities by investing in all aspects of the business, ranging from sales and marketing, to engineering and product development, as well as business development and strategic alliances.

Alert Logic’s Security-as-a-Service business model combines security software products purpose-built to be delivered as-a-service, along with integrated managed services providing 24×7 monitoring, alerting, and guidance from certified security analysts. This model allows customers to achieve their security and compliance goals without the cost and complexity associated with traditional SIEM or MSSP solutions.

“After doubling the size of our company in less than two years and building a customer base of over 1,200 customers representing $20 million in annual recurring revenue, it is clear our business model works,” said Gray Hall, president and CEO at Alert Logic. “Our customers and partners are telling us that our current SaaS delivery model and service provider channel gives us an ideal foundation on which to build more Security-as-a-Service solutions and drive these solutions through the rapidly growing hosting/cloud market.”

The funding round was led by existing investors Updata Partners, Covera Ventures, DFJ Mercury, and Access Venture Partners, along with several members of the company’s management team.

Written By

Click to comment

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Management & Strategy

Industry professionals comment on the recent disruption of the Hive ransomware operation and its hacking by law enforcement.

Management & Strategy

SecurityWeek examines how a layoff-induced influx of experienced professionals into the job seeker market is affecting or might affect, the skills gap and recruitment...

Management & Strategy

Tens of cybersecurity companies have announced cutting staff over the past year, in some cases significant portions of their global workforce.

Funding/M&A

Twenty-one cybersecurity-related M&A deals were announced in December 2022.

Funding/M&A

Tenable has launched a $25 million venture fund to place bets on early-stage startups in the exposure management space.

Cybersecurity Funding

Forward Networks, a company that provides network security and reliability solutions, has raised $50 million from several investors.