07/22/2008

Recently named the "go to product" for security information and event management (SIEM) by Network World, Q1 Labs today announced details supporting its increased momentum during the first half of 2008. Continuing on its path of accelerated growth from the year prior, the company has secured more than 100 new customers and achieved 145 percent revenue growth over the same period last year.

ebizQ received the following:

Q1 Labs also recently announced its expansion into EMEA and APAC in support of its multi-channel sales strategy including previously announced worldwide OEM agreements with Juniper Networks, Nortel Networks and Enterasys who are officially shipping their branded versions of Q1 Labs’ flagship solution, QRadar.

"Our philosophy from the very beginning has been simple: deliver complete network and security knowledge to our customers each and every day. Our continued focus and dedication to this philosophy has resulted in a significant increase in customer adoption and an annualized growth rate of 145 percent in the first half of this year alone," said Shaun McConnon, CEO, Q1 Labs. "Our highly leveraged business model allows our customers to procure the solution from their IT infrastructure provider, local VAR, or direct from Q1 Labs. And they can purchase the version of QRadar that best suits their environment and unique needs."

Multiple Verticals Fuel Growth

In the first half of 2008, Q1 Labs secured more than 100 US and global customers spanning multiple verticals including retail, defense, education, and state and local government, all of which were seeking a converged network security management solution that could address their threat, compliance, and log management challenges. Some customer deployments, including several within Fortune 1000 companies, include:

• Retailers that include an American leather goods company and the largest specialty retail jeweler in the country



• The pioneer in space exploration, scientific discovery and aeronautics research



• A Department of Defense agency responsible for facilitating personnel security investigations and training



• A leading provider of analytical instruments, laboratory equipment, software, services, consumables and reagents



• An international university with 21 facilities and professional schools for undergraduate and graduate levels

Distribution Channels Expand Rapidly Worldwide

In early 2008, Q1 Labs announced its 'Powered by Q1 Labs' expanded OEM and partnership strategy which is designed to allow Q1 Labs to work with leading infrastructure vendors to collaborate on technology and leverage the OEM channel to increase adoption of QRadar worldwide. All three OEM partners, Enterasys, Juniper Networks and Nortel Networks have chosen Q1 Labs as their OEM partner and have officially begun selling QRadar under their own brands. Additionally, Q-Alliance is a collaborative program that helps channel partners to increase their business and expand their markets by selling Q1 Labs’ products and services. The company added 17 channel partners in the first half of 2008, now totaling 141 globally.

And to further accelerate the adoption of QRadar and assist with the success of its worldwide OEM partners, Q1 Labs expanded its operations into EMEA territory and Asia Pacific (APAC) where they are establishing strong direct and reseller sales relationships within these regions.

Q1 Labs Tops Independent SIEM Bake Off

Q1 Labs most recently received recognition for its flagship product, QRadar, from Network World within its 'Clear Choice Test' of SIEM solutions (June 30, 2008). Among the six other SIEM products tested, QRadar came out on top and, according to product reviewer Greg Shipley, "QRadar is a well-rounded security information and event management platform that became our ‘go-to product’ for validating most of our findings. It earned this status for two primary reasons. First it offers the most amount of functional flexibility. And, second it provides the most effective correlation rule set right out of the box. The Q1 Labs' product simply offered the greatest amount of visibility into our environment with the least amount of headache."