SIEM and Log Management Vendor Q1 Labs Announces Exceptional Business Success and Customer Acquisition Growth for 2009

Q1 Labs, a global provider of total security intelligence products, today announced it has doubled its customer base from 2008 to 2009. The company acquired 193 new customers in Q4’09 alone, bringing its total customer count to 971 customers. The company has also seen significant growth worldwide, acquiring over 200 new customers outside of North America.

Q1 Labs’ five year average revenue growth in excess of 70 percent has enabled the company to increase its headcount by 50 percent in 2009 while increasing profitability over 2008.

“2009 was, by far, our best year yet. Organizations, in particular large companies, fully appreciate the need for a total security intelligence solution, a requirement which is driving the demand for QRadar – the most intelligent, integrated and automated SIEM in the market,” said Shaun McConnon, CEO of Q1 Labs. “The security marketplace has clearly endorsed our next-generation product family and the security intelligence we provide. This is demonstrated through both our customer satisfaction results, which reached an all-time high in 2009, and our ever-increasing customer count. Our success in 2009 has positioned us well for an even more successful 2010, as we continue to take share from the competition, especially in large enterprises and state, local, and Federal agencies.”

The company also had a number of significant customer acquisitions in 2009: one customer providing a Q1 Labs’ enabled service rated at 400,000 events per second; a global carrier using QRadar to monitor one-third of the Internet; and a retailer taking feeds from over 50,000 devices. Together these opportunities demonstrate Q1 Labs’ ability to scale in support of the most demanding large enterprise or carrier requirements, and well beyond the capabilities of first generation SIEM products.

In addition to acquiring an unprecedented amount of customers both in North America and Europe, the company also expanded its channel footprint by certifying the security market’s best VARs and integrators, as well as growing its OEM business by over 100 percent.

Below are a few of Q1 Labs’ 2009 highlights; the full list can be found here:

• Named leader in Gartner’s 2009 SIEM Magic Quadrant
• Named a Premier SIEM Provider by Fishnet Security in the Partner’s New Managed Security Service Program
• Named Finalist in 2010 SC Magazine Awards for Best Security Information/Event Management Solution
• Delivered New Products and Enhancements, Including QRadar Log Manager, Log Manager Free Edition, QRadar SIEM fully automated version, and High Availability/no downtime functionality
• Announced New European Partnerships with Computerlinks AG and VADition
• Expanded Canadian R&D and Customer Support Center in New Brunswick

The company continues to see success globally and in selected verticals, across the financial, government (federal, state and local), education, retail, healthcare, energy and service provider industries.

Tweet this: Leading SIEM Vendor @Q1Labs Doubles Customer Count in 2009, Acquires 500 new customers #SIEM #Security

Supporting Resources

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About Q1 Labs

Q1 Labs is a global provider of high-value, cost-effective next-generation network security management products. The company's flagship product, QRadar SIEM, integrates previously disparate functions – including log management, network behavior analytics, and security event management – into a total security intelligence solution, making it the most intelligent, integrated and automated SIEM product available. QRadar SIEM provides users with crucial visibility into what is occurring with their networks, data centers, and applications to better protect IT assets and meet regulatory requirements. Q1 Labs is headquartered in Waltham, Mass., U.S.A., and the company's customers include healthcare providers, energy firms, retail organizations, utility companies, financial institutions, government agencies, and universities, among others. For more information, visit Q1Labs.com or call 781-250-5800.

Q1 Labs, the Q1 logo, and QRadar are trademarks or registered trademarks of Q1 Labs, Inc.