Companies Embrace Network and Security Management Convergence

As both internal and external threats continue to rise and compliance regulations become prevalent across all markets, more companies are realizing that a silo approach to network and security monitoring is not enough to safeguard them. 125 new customers in 2007 combined with 100 percent year over year revenue growth proves that Q1 Labs’ ‘command and control’ approach across both the network and security infrastructure is necessary to ensure appropriate log management, threat management and compliance management strategies.

“Coming off of such an incredible year here at Q1 Labs, our goal in 2008 is to once again double our revenues with the help of our rapidly growing channels and recently announced OEM partners,” said Shaun McConnon, chief executive officer at Q1 Labs. “Our growth and execution across customers, channel partners and OEMs is the best indication that QRadar is fast becoming a standard for managing network and security information in enterprise environments.”

In 2007 Q1 Labs secured many new US and global customers within retail, utilities, state and local government, education and telecom to solve threat, compliance and log management challenges. This new customer growth included enterprise-wide deployments at several Fortune 100 and Fortune 500 corporations including:
A leading designer of branded women’s and men’s apparel
One of the world’s largest enterprise software companies
A multi-billion dollar global defense and technology company
A top 10 US provider of wireless and wireline communications services
One of the world’s largest restaurant companies

Series D Funding to Support Worldwide OEM Partnerships

At the end of 2007, Q1 Labs expanded its OEM partnerships to three, adding Juniper Networks and Nortel Networks to its existing relationship with Enterasys Networks. Enabling a broader competitive front against technology rival, Cisco MARS, QRadar solutions will now be delivered through the worldwide channels of these network and security vendors.

In order to support this burgeoning worldwide channel, Q1 Labs recently raised a Series D round of financing totaling $9 million that was lead by Globespan Capital Partners. Joining Globespan in this round of financing were other existing investors Menlo Ventures, BDC Venture Capital, Polaris Venture Partners, New Brunswick Investment Management Corporation as well as individual investors. This round brings Q1 Labs’ total funding raised to-date to $43 million.

“We are delighted with Q1 Labs’ market execution and customer traction,” said Dave Fachetti, managing director, Globespan Capital Partners. “The addition of these key OEM partners gives Q1 Labs technology a very powerful worldwide channel. We look forward to 2008 being another year of record growth.”

About QRadar

QRadar goes beyond traditional security information/event management (SIEM) products or network behavior analysis (NBA) products to create a command-and-control center that can monitor, analyze, and remediate threats. QRadar combines, analyzes and manages an unequalled set of surveillance data—network behavior, security events, vulnerability profiles and threat information—to empower enterprises to manage business operations on their networks efficiently from a single console. More information about QRadar is available at: http://www.q1labs.com/products/.

About Q1 Labs

Commanding a unique position at the nexus of security and networking, Q1 Labs is redefining network security management. Q1 Labs’ flagship product, QRadar, integrates previously disparate network and security functions into one solution. This convergence ties the impact of security threats directly to specific business assets and services, reduces acquisition and operation costs, and increases accuracy. Q1 Labs’ installed customer base ranges from government agencies and financial institutions to universities and healthcare providers