UPDATE: Loggly Achieves Another Record Quarter of Growth and Innovation
(Marketwire Via Acquire Media NewsEdge) SAN FRANCISCO, CA -- (Marketwired) -- 04/09/14 --
Loggly, the world's most popular enterprise-class cloud-based log management service, today announced that it has surpassed all of its growth targets and has achieved record bookings, revenue, and customer growth in the first quarter of 2014. Recognizing the huge market opportunity offered by net-centric organizations that generate tremendous volumes of log data every day, Loggly created a simple, low-friction business model that aligns with these organizations' needs and a scalable service designed for their use cases. As a result, the company has now passed the 5,000 customer mark. Its Responsive Log Management™ platform is used across leading B2B and B2C companies who care about improving customer experience and protecting revenue. Customers recently added or expanded include care.com, Crackle, Crowdflower, Domo, Electronic Arts, Rue La La, Rumble Entertainment, Schneider Electric, Sony Pictures.
"Log management is a real-time big data challenge that is critical for all net-centric organizations. But operating, let alone building, a log management system does not make them better at their core business," said Charlie Oppenheimer, CEO at Loggly. "By offloading this task to Loggly, our customers get the self-sufficiency they desire with the performance and user experience that can't be beat. Loggly offers a value proposition that net-centric companies both want and love."
Loggly achieved these notable highlights during the quarter:
Monthly recurring revenue increased almost 60% versus the prior quarter ended December 31, 2013 adding more new revenue than all of 2013 The total number of paid accounts increased by 35% The total number of Pro accounts, Loggly's highest tier of service, more than doubled and as a result, average revenue per account was up sharply every month of the quarter. The amount of data managed within Loggly nearly doubled
During the quarter, Loggly also hired key talent to support customers and revenue growth including Manoj Chaudhary, who was appointed Chief Technology Officer & Vice-President of Engineering. Manoj brings deep high-scale and Software-as-a-Service experience with a background from Jive Software and Cast Iron Systems. Overall, the Loggly team grew by 20% during the quarter.
Loggly is the world's most popular enterprise-class cloud-based log management solution, used by more than 5,000 happy customers to effortlessly spot problems in real-time, easily pinpoint root causes and resolve issues faster to ensure application success. Founded in 2009 and based in San Francisco, the company is backed by Trinity Ventures, True Ventures, Matrix Partners, Cisco, Data Collective Venture Capital and others. Visit the Loggly website: loggly.com. Follow @Loggly on Twitter.
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