I am thrilled that Loggly has just achieved another record quarter. We have surpassed all of our growth targets achieved record bookings, revenue, and customer growth. And in more exciting news, we have now passed the 5,000 customer mark! As we get ready to build on this growth in Q2, I’d like to share our recipe for success – a few insights on how we are building such a powerful, fast growing and scalable business.
First, we understood that the opportunities would increasingly come from net-centric companies, and we knew it was key to provide a low friction model to solve what is likely their first real big data challenge – log management. The numbers are in:
- The total number of paid accounts increased by 35%
- Q1 monthly recurring revenue increased almost 60% versus Q4, ‘13
- Average revenue per account was also up sharply in the last 90 days
Then, we put our customers at the center of every product decision we made. We were and forever will be obsessed with providing the best possible user experience. We have a world-class interface that is intuitive, rapidly adopted, and a joy to use daily. Our customers love it:
- The amount of data managed within Loggly has nearly doubled in the last 90 days
- The number of Pro accounts has more than doubled
- Over 80% of users who become active do so within 24 hours of signup
And the final key to success is to attract and retain the best, brightest, and most dedicated talent in this fiercely competitive landscape, without gimmicks and gourmet dinners and spas and concierges (although we love spas like everybody else!). We have done so by sharing our core values and finding talent who share our customer focus. This quarter alone, we:
- Grew the team by 20% in Q1 with several key hires
- Brought on a VP/CTO with a deep background in SaaS
- Added 25% more capacity to our DevOps team
- Hired key account managers dedicated to our growing customer base in larger enterprise
- Opened job reqs to grow the team another 15% in Q2 (Join us and we’ll grow even faster!)
Over the last two quarters, we have consistently over-delivered on our goals. We have continued to add innovative features to our customers, in a reliable product. Loggly experienced zero downtime during the month of March. And with over 85% of the company investment going directly to R&D, there will be more innovation to come in the near future.
So where do we go from here?
Net-centric companies are (still) the fastest-growing segment of the economy. We are confident that our focus is serving us well and positioning the company for another period of strong growth.
Everything that is happening is showing us that we are on the right path, but no one tells it better than our customers. Here are a few nuggets by Rumble Entertainment from a recently released success story:
“Log management is critical for running an operational service like a game. If we didn’t have Loggly, there would be days where our revenue would be affected by as much as 70 percent.”
“We spent weeks trying to build our own logging and indexing solution for large JSON strings. Our volume of data is so high that it cost us ten times more than Loggly and our data retention time was three times worse.”
“Getting good at log management wasn’t going to make us better game developers, so we were better off finding a service to take it off our developers’ hands and focusing on our core competency.”
Words of wisdom for any cloud-based business. We can’t wait to take the world’s most popular cloud-based log management service even farther, and we won’t rest until we’ve delivered the value of Loggly to all those net-centric companies seeking a smarter solution… that always starts with a full-featured trial.