Fastly Launches Managed Threat Detection and Response Service

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Fastly, an edge cloud platform provider, has released a managed security service to help its Next-Gen Web Application Firewall (WAF) customers safeguard their web applications.

The managed security service offers continuous monitoring and mitigation of web application attacks, Fastly said. It is backed by Fastly’s global customer security operations center (SOC) and a 15-minute response time service-level agreement for security incidents.

In addition, the managed security service offers security event reporting and consultations, Fastly stated. This ensures that Next-Gen WAF customers can assess security events, gain security insights and find ways to strengthen their security posture.

Fastly Increases Revenue in 2022

The managed security service launch comes after Fastly closed out 2022 with a “record quarter,” CEO Todd Nightingale said. Notable financial results for Fastly during the fourth quarter of 2022 include:

  • Total revenue of $119.3 million, up 22% year over year and representing 10% sequential growth
  • GAAP net loss of $46.7 million, compared to $57.5 million one year earlier
  • GAAP gross margin of 52.4%, up from 50.9% in the fourth quarter of 2021

Fastly recorded total revenue of $432.7 million, up 22% year over year. It also reported an annual revenue retention rate of 99.2%, which matches its 99.2% rate from 2021.

Fastly is projecting total revenue between $114 million and $117 million in 1Q23. Furthermore, Fastly is expected its total revenue for full-year 2023 to fall between $495 million and $505 million.

A Closer Look at Fastly

Fastly offers an edge cloud platform that encompasses network, compute and observability capabilities. This platform also protects end-users against bots, web application attacks and other cyber threats.

MSSPs, MSPs and other technology providers can join Fastly’s partner program. By doing so, they can integrate Fastly’s edge cloud platform capabilities into their offerings and leverage the company’s technical integrations.

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