Excelero Grows Revenue 4X From FY17 to FY18

Excelero, Inc., in software-defined block storage, concluded FY18 on December 31 with a 4x increase in revenue compared to FY17 – which itself was 4x the revenues of FY16.

The number of new customers for Excelero’s NVMesh solution, which enables shared NVMe Flash at local performance, grew 3x compared to new customers in 2017. The company sold thousands of licenses to hyperscale Web giants during 2018, with its revenue split evenly between these ‘web monsters’ and OEM-led deals by strategic partners as Supermicro and Lenovo, and savvy regional resellers and system integrators including ArcaStream, CMA and Pixit Media who package solutions into total solutions for a variety of verticals.

As data centers transition from legacy infrastructure to more efficient software-defined solutions, Excelero’s 2018 business results demonstrate the next-generation storage opportunity, the wisdom of a 100% channels-driven selling approach, and the appeal of its NVMesh solution.

“Excelero was designed to serve the Web giants, and that’s exactly what we did in 2018, and then some,” said Lior Gal, CEO and co-founder, Excelero. “We’re expanding our focus on Chinese and Japanese markets, where IT leaders also are seeing the ROI of deploying scale-out NVMe storage architectures – and we are already on track to make 2019 just as successful.”

Excelero’s FY18 results include:
Numbers – Excelero closed multi-million dollar deals in FY18, driven by repeat business including one customer that made its fourth order. Its financial services sector business grew 4x, including sales to global brands with vast hyperscale infrastructures for which NVMesh storage delivered the missing piece. Revenue was evenly split between repeat business and new customers.

Backed by new strategic investment from Western Digital Capital in August 2018, Excelero continued to accelerate go-to-market initiatives and development in 2018. The company grew its engineering team by 50% last year, and projects an additional 50% staff expansion during 2019 in business and product development in the UK and US.

Accounts – During 2018 Excelero provided NVMesh for new edge computing, HPC, database as a service (DBaaS), GPU computing, real-time analytics and AI applications. Given firm’s support for Open19, an evolving industry standard which began as a concept at LinkedIn and was built for edge computing, the company anticipates significant growth in edge computing deployments in 2019 as this $13 billion market takes off.

During 2018 a half-dozen feature films were produced more efficiently and in several cases to critical acclaim through Excelero’s deployments at post-production legends such as Technicolor.

New Products – NVMesh 2 solution debuted in October 2018, lowering barriers to deploying shared NVMe storage across more end-user applications – with three sets of critical capabilities including support for traditional network technologies TCP/IP and FC, giving NVMesh a selection of supported protocols and fabrics of software-defined storage platforms. NVMesh 2 also added flexible protection levels for different application needs, and performance analytics. During 2018 Excelero also announced support for Mellanox’s BlueField SmartNIC adapters, enabling cost-efficiency by leveraging BlueField to further offload CPU resources and providing an OS-agnostic platform for running NVMesh on any OS supporting NVMe.

Patents and Awards – With its second patent award received in 2018 and 13 more patents pending, Excelero continues to innovate with technologies to heighten storage efficiency.

Industry recognition for NVMesh continued, with the SVC 2018 Storage Project of the Year award and a Flash Memory Summit 2018 Best in Show award, both for implementation at teuto.net and shared jointly with Mellanox. In February 2018 NVMesh was named the Gold Medal winner in the Software-Defined Storage Product category of the 2017 Tech Storage Product of the Year award. The company was named to the 2018 CNBC Upstarts 100 and the 2018 Entrepreneur 360 lists.

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2018.08.16 | Press Release