Sumo Logic Cloud SIEM Demand Remains Strong
Sumo Logic = a log management and security analytics company — remains in rapid growth mode, driven by the company’s cloud-based SIEM and security intelligence suite, among other high-demand product areas.
Indeed, Sumo Logic’s revenue was $51.9 million in the company’s Q3 of fiscal 2021, up 28 percent from the corresponding quarterly last year, Sumo Logic disclosed today. On the security front, Sumo Logic made three major moves during the quarter. The moves included announcing:
- A new integration with AWS Network Firewall.
- SecOps Team Reporting with pre-built dashboards. Users will gain real-time views around data ingestion, usage, and SecOps metrics.
- Detection improvements including new chain, threshold and aggregation rule types that “further improve automated threat detection capabilities helping cloud SIEM customers with their specific use cases,” the company says.
Sumo Logic: MSP- and MSSP-Friendly Design
This is Sumo Logic’s first quarterly earnings report since launching a successful IPO in September 2020. In an IPO-day conversation with MSSP Alert, Sumo Logic Co-Founder and CTO Christian Beedgen emphasized that the company’s platform has a multi-tenant design for MSPs and MSSPs. Also, the company earlier this year launched its Practice Builder program, which allows MSPs and MSSPs to use Sumo Logic’s Continuous Intelligence Platform to secure their customers’ on-premises and cloud environments.
Despite the strong revenue growth, Sumo Logic’s stock fell about 18 percent as some investors questioned the company’s overall valuation.