|Q1 Labs' extensive customer base has contributed to its outstanding revenue increase|
, the global provider of total security intelligence solutions, announced that its revenue has continued to increase at a rapid rate, achieving 98 percent growth in Q3 2010 over Q3 2009. Contributing to this outstanding revenue increase is the company's extensive customer base: Q1 Labs now has more than 1400 customers worldwide, and is continuing to drive the worldwide adoption of SIEM solutions and Security Intelligence technology.
The strong Q3 2010 growth can be measured by several indicators, including the addition of nearly 150 customers globally, numerous new products announced throughout the year, and a 100 percent increase in its worldwide sales force."For the past two years, we have remained profitable while executing on global expansion, and increasing our headcount throughout the organisation,"
said CEO Shaun McConnon. "The demand for security software is growing. Q1 Labs is taking market share by delivering the right solutions through the right channels to an increasingly large number of customers worldwide, as our product, QRadar, has become a necessity for all corporations and government agencies."
In addition to building out its R&D centre in Belfast, Northern Ireland, the company has also added three new country managers to accommodate demand for the QRadar Security Intelligence Platform in France, Southern Europe, the DACH regions, Germany, Nordics and the United Kingdom.
The combination of enhancements and strategic improvements unveiled in the recently announced QRadar 7.0 brings Q1 Labs to the forefront within the SIEM, network activity monitoring and Log Management space. Q1 Labs continues to expand its reach into new markets, such as Risk Management, enabling customers to have an integrated solution for all their security, compliance and risk monitoring needs. Q1 Labs' Security Intelligence Platform provides companies with the tools necessary to simulate, detect and combat cyber warfare tactics, such as state-sponsored attacks.
Q1 Labs has also received outstanding third party validation of its vision and products:
- The Company was positioned as a Leader in the 2010 Gartner SIEM Magic Quadrant.
- QRadar Risk Manager was highlighted in Gartner's recent Security Configuration Management Capabilities.
- QRadar Risk Manager was featured in SC Magazine's "First Look" section, which named QRadar Risk Manager as a "comprehensive, well-integrated solution to the challenge of risk, threat and fraud management, with a healthy dose of compliance reporting...It goes beyond integration of functions and presents a single, well-designed tool with lots of capabilities."
- 98 percent growth quarter-over-quarter, expanding its customer base to over 1400 customers.
- Added nearly 150 customers in Q3 2010.
- 120 percent growth in business from the channel over the same quarter last year.
The company is also looking forward to an exciting Q4, where it will announce a brand new technology alliance programme and an update to its QRadar Log Manager Free Edition product, among other activities.