Cohesity Increases Revenues 300 Percent in FY 2018 and Announces Massive Customer Growth as Enterprises Globally Embrace the Company’s Hyperconverged Secondary Storage Platform
Revenues Nearly Quadruple Year-over-Year, Customer Acquisition Increases Four-Fold Including Marquee Enterprise Customers AutoNation, Beam Suntory, LendingClub, U.S. Department of Energy and WestLotto
San Jose, Calif. – Aug. 21, 2018 – Cohesity, the leader of hyperconverged secondary storage, today announced that its revenues from fiscal year (FY) 2018, which closed on July 31, increased 300 percent year-over-year. The company also announced that it quadrupled the size of its customer base compared to the previous fiscal year. And, as the year progressed, more and more customers embraced Cohesity’s platform in record numbers, with customer adoption accelerating 75 percent in the fourth quarter compared to the third.
The company saw major customer adoption across a wide array of verticals globally including financial services, healthcare, public sector, life sciences, media and technology, telecommunications, and education. This strong financial performance and customer momentum builds on the company’s outstanding results from the previous year and continues to validate the growing demand for Cohesity’s disruptive technology that consolidates complex legacy infrastructure onto a single platform that is optimized to manage secondary data and applications at web scale.
“As more and more companies struggle with mass data fragmentation, customers globally are looking for a radically different approach to solve this problem,” said Mohit Aron, CEO and founder, Cohesity. “Cohesity empowers customers to consolidate a patchwork of secondary silos including backup, files and objects, test/dev, archiving, analytics, and cloud with a platform that scales in a way no other vendor can match. And with today’s announcement of Cohesity Helios, we are empowering those customers to do more with their data, providing new ways for organizations to generate value from their untapped data while solving some of their biggest business challenges.”
Momentous Customer Growth
Cohesity added numerous marquee enterprise customers in FY 2018, including Air Bud Entertainment, AutoNation, Beam Suntory, BC Oil and Gas Commission, Bungie, Harris Teeter, Hyatt, Kelly Services, LendingClub, Piedmont Healthcare, the San Francisco Giants, TCF Bank, the U.S. Department of Energy, the U.S. Air Force, and WestLotto.
Enterprises are increasingly selecting Cohesity to fuel their hybrid cloud journey, with more than half of new deployments in the last fiscal year embracing Cohesity’s technology that empowers companies to easily store, protect, and manage data and apps in the cloud.
Continued Innovation That Delivers Business Value
Cohesity’s new SaaS-based management solution, Helios, builds on the Cohesity DataPlatform and empowers customers to see, manage, and take action on their secondary data and applications globally and to apply powerful analytics and machine learning (ML) capabilities to generate valuable insights from untapped data.
In February, Cohesity announced that it expanded the use of its platform to handle file and object storage. When combined with data protection and other critical capabilities on the same platform, customers can achieve dramatically lower infrastructure costs while simplifying data management — a key reason a growing share of Cohesity customers, like Manhattan Associates, chose Cohesity over competitors. In fact, more than 60 percent of Cohesity’s customers utilize Cohesity for file services in addition to the company’s backup offerings.
Cohesity unveiled deeper integrations with AWS, Microsoft Azure, and Google Cloud, empowering enterprises to protect cloud-based applications and expand on-premises file and object sharing onto public cloud infrastructure. With AWS, Cohesity announced that it has achieved Amazon Web Services (AWS) Storage Competency status for its cloud storage solutions.
Organizations can now leverage the public cloud for faster application testing and development with automatic virtual machine (VM) conversion with Cohesity CloudSpin, announced in April.
Top-Tier Financial Backing for Rapid Growth
In June, Cohesity raised $250M in an oversubscribed Series D funding round led by the SoftBank Vision Fund with strong participation from strategic investors Cisco Investments, Hewlett Packard Enterprise (HPE), and Morgan Stanley Expansion Capital. This is only the second time SoftBank Investment Advisers has invested in an enterprise software company.
Cohesity has raised $410 million in total equity and continues to focus on large-scale global expansion, helping enterprises worldwide attack a problem that organizations currently spend an estimated $60 billion each year to address using separate point solutions.
Channel / Partner Momentum
81 percent of Cohesity’s partners grew their business in excess of 100 percent in FY 2018, while 75 percent of Cohesity’s partners grew their business by more than 200 percent. Cohesity remains 100 percent channel focused.
Cohesity enhanced its partnerships with Cisco in FY 2018. Through this partnership, Cohesity has integrated its software on Cisco Unified Computing System (UCS), while also providing enterprise-class backup and recovery for applications running on Cisco HyperFlex.
Cohesity also continued to advance its partnership with HPE in FY 2018, empowering more customers to take advantage of Cohesity’s software on HPE ProLiant servers, simplifying secondary data infrastructure while making data more productive.
Recognition and Accolades from Industry Experts, Company Growth
The World Economic Forum recognized Cohesity as one of the world’s Tech Pioneers in June for its contributions in transforming enterprise data center and cloud operations to empower global customers to quickly and easily extract value from their data.
Cohesity has continued to grow its employee base, more than tripling the company’s headcount to nearly 700 globally. Within the last eight months, Cohesity christened its new company headquarters in downtown San Jose while also opening its second major US office in Raleigh, North Carolina to build on the company’s incredible corporate momentum.