Cohesity Achieves 100 Percent Increase in Software Revenues in FY 2019 as the Company Completes Transition to Software Business Model
Receives first software order over $10 million
Volume of seven-figure orders grew by 350 percent YoY
Strong customer growth, partner momentum in FY 2019
Strong adoption of cloud offerings and hybrid deployments
San Jose, Calif. – Oct. 9, 2019 –Cohesity today announced key performance metrics from another record-breaking fiscal year (FY), which ended on July 31. The metrics from FY 2019 show that more and more organizations globally are discarding antiquated legacy point products and are embracing Cohesity’s modern, software-defined data management platform.
In FY 2019, Cohesity completed its transition to a software business model and is already seeing tremendous success. Key highlights from the fiscal year include the following:
The company’s software revenue grew more than 100 percent year-over-year.
Within the last two quarters, more than 50 percent of Cohesity’s new contracts were recurring, further emphasizing the success of a subscription-based software model.
Cohesity received a customer software order valued at more than $10 million.
The number of customer orders worth more than $1 million surged by 350 percent compared to the previous year.
“Demand for our disruptive data management solutions continues to skyrocket as more companies turn to Cohesity to simplify backup, defend against ransomware, make data easier to manage, and solve mass data fragmentation,” said Mohit Aron, CEO and founder. “And now, with the Cohesity MarketPlace, we are enabling customers to bring apps to the data, which opens a new world of possibilities in extracting value from data. Just as Google made it easy for consumers to manage and extract value from consumer data, we are doing the same with enterprise data across hybrid and multi-cloud environments.”
Customers Turn to Cohesity for Next-Generation Data Management
Cohesity doubled the number of customers utilizing its solutions compared to the previous fiscal year, with strong growth in the Americas, Asia Pacific, and EMEA. A small sampling of Cohesity’s customer base includes AutoNation, Australian Football League, LendingClub, Northern Trust, Ørsted, Riverside Health System, Sector Alarm, Softbank Corp., Statnett, the San Francisco Giants, Vita Group, West Lotto, West Midlands Fire Service, William Buck, and the U.S. Federal Government including the U.S. Air Force, U.S. Army, and USDA. The top-five fastest growing verticals embracing Cohesity’s data management solutions are financial services, public sector, technology, professional services (including consulting and legal), and healthcare.
Organizations Rely on Cohesity to Advance Their Hybrid and Multi Cloud Journeys
More than half of Cohesity customers licensed the company’s cloud capabilities in FY 2019, showing growing momentum for hybrid and multi cloud deployments.
Partners Embrace Cohesity Solutions to Provide Greater Value to Customers
In FY 2019, the company expanded its partner program, empowering partners to provide greater value while increasing profitability.
Channel partners experienced remarkable success in FY 2019. Of those active channel partners that booked business with Cohesity in FY 2019, nearly 70 percent grew their business in excess of 100 percent during that time, while more than 50 percent grew their business by more than 200 percent.
Many service providers across the globe standardized on Cohesity to deliver managed backup, file share, archival, disaster recovery, and security services to their customers. Cohesity added more than 30 new service providers in FY 2019, expanding the company’s reach into enterprise, mid-market, and small- to medium-sized business (SMB) segments through Cohesity Powered services.
At the same time, Cohesity made tremendous progress in delivering its software via technology partners. In Q4 of FY 2019 alone, more than 30 percent of Cohesity’s software sold was installed on certified hardware from technology partners, up from single digits in FY 2018.
“We rarely see a new technology platform catch immediate interest from a broad section of large enterprises like we have with Cohesity,” said Cynthia Johnson, Vice President, Global Data Center Sales, Cisco. “In the last year, Cohesity has been the fastest growing Cisco portfolio company in our SolutionsPlus program, driven by the operational simplicity of our joint solutions on Cisco UCS and HyperFlex, and by the new world of possibilities customers see to unify, protect, and extract value from their data.”
“Over the last 12 months, we’ve seen tremendous interest and adoption from large enterprises on the joint HPE – Cohesity solution,” said Patrick Osborne, vice president and general manager, big data business, HPE. “In Cohesity, we have a partner that shares our vision of an intelligent data platform for hybrid/multi-cloud IT, empowering customers to not just protect data, but also gain insights from it.”
Cohesity Recognized for Innovation
In FY 2019, Cohesity was repeatedly recognized for its leadership in data management:
Named a Leader by Forrester Research in “The Forrester Wave™: Data Resiliency Solutions, Q3 2019.”
Named to the Forbes 2019 Cloud 100, a ranking of the top 100 private cloud companies, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures.
Received a 5-star rating in CRN’s 2019 Partner Program Guide, an annual guide that identifies the strongest and most successful partner programs in the channel today.
Named to the CNBC Disruptor 50, underscoring how Cohesity is transforming the way enterprises backup, manage, and extract insights from their most important data.
About Cohesity Cohesity ushers in a new era in data management that solves a critical challenge facing businesses today: mass data fragmentation. The vast majority of enterprise data — backups, archives, file shares, object stores, and data used for test/dev and analytics — sits in fragmented infrastructure silos that makes it hard to protect, expensive to manage, and difficult to analyze. Cohesity consolidates silos onto one web-scale platform, spanning on-premises, cloud, and the edge, and uniquely empowers organizations to run apps on that platform — making it easier than ever to back up and extract insights from data. Cohesity is a 2019 CNBC Disruptor and was named a Technology Pioneer by the World Economic Forum. Visit our website and blog, follow us on Twitter and LinkedIn and like us on Facebook.