ExaGrid Reports Record Revenue for 1Q17And best quarterly bookings in company's history
This is a Press Release edited by StorageNewsletter.com on 2017.04.21
ExaGrid Systems, Inc., a provider of disk-based backup storage with data deduplication solutions, announced record bookings and revenue for 1Q17.
ExaGrid grew double digits over the same quarter of the prior year, continuing its trend of progressive growth at a faster rate than that of the overall market and consistent growth of its market share position. It continues to demonstrate success in the enterprise market as evidenced by its posting of a record number of new customer six-figure deals in the current quarter.
"ExaGrid again posted a record quarter as the number of higher-value enterprise deals continues to rise, resulting in a higher ASP," said Bill Andrews, CEO and president, ExaGrid. "We are seeing the larger enterprise customers looking for better performance at a lower cost than the first generation of backup storage solutions can provide, and that's what ExaGrid is uniquely positioned to deliver."
First generation deduplication solutions were either built into a backup application media server or into a scale-up storage appliance. Customers did not truly understand the negative impact of data deduplication on backup until they deployed the first generation of products. The evolving market has resulted in more sophisticated customers who are ready to understand the impact of ExaGrid's approach on the data center.
"Over 70% of ExaGrid's newly acquired customers are replacing first generation deduplication approaches from Dell EMC Data Domain, HP StoreOnce, CommVault Deduplication, and the Veritas 5200/5300 series of appliances. These solutions can be cost prohibitive for backup storage and are also slow for backups, restores, and VM boots," said Andrews.
ExaGrid is the only second generation backup storage vendor that has eliminated the three compute challenges inherent to backup storage with data deduplication. All backup storage vendors reduce storage and bandwidth to varying degrees but provide slow ingest rates because they perform data deduplication 'inline.' In addition, because they only store deduplicated data, restore speeds and VM boots are also very slow. ExaGrid's ingest rate is three times faster - and restores/VM boots are up to ten times faster - than its closest competitor.
Unlike the first generation vendors that only add capacity as data grows, ExaGrid appliances add compute with capacity, ensuring that the backup window remains fixed in length. The firm uses a scale-out architecture with a loading zone, which holistically addresses all of the scalability and performance challenges of backup storage.
In 1Q17, ExaGrid achieved:
- Record bookings and revenue
- A record number of six-figure new customer opportunities
- Designation as a Nutanix Elevate partner and inclusion in its Technology Alliance Partner Program
- Nutanix Ready certification after having completed all testing and validation