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Komprise Doubles Revenue in 2022

For 3rd consecutive year

Komprise, Inc. announced that subscription revenue more than doubled for a 3rd consecutive year.

Its enterprise customers are distributed across healthcare, life sciences, biotech, media and entertainment, public sector, higher education, financial services, legal, energy, high-tech and other industries managing petabyte-scale unstructured data environments.

Customers are using Komprise in several ways to enhance their data-driven operations, including cold data tiering for an average cost savings of 70%, 25x faster cloud file migrations, cloud storage cost optimization, self-service data management and storage capacity planning through cross-silo visibility and actionable analytics. Other growing use cases include unstructured data tagging and automated workflows to right-place data for AI and data science initiatives.

2022 Highlights:

  • Doubled annual subscription revenue for a 3rd consecutive year.
  • 50% growth in the Komprise Global File Index, which consists of hundreds of billions of files, providing customers a Google-like search across their entire data estate to find, tag and mobilize unstructured data.
  • 120% net dollar retention (NDR) showing customer retention and expansion, even during an economic downturn.
  • 30% of revenues came from expansions, indicating customer satisfaction and loyalty.
  • 200% growth in the number of organizations using the company for data migrations to a new NAS or for cloud data migrations.
  • 100+ Microsoft customers migrating data to Azure using the firm during the first 12 months of the Azure File Migration program, which funds customer use of Komprise.
  • The company closed $37 million in new investment in January 2023.
  • Recognized as the leader in the GigaOm Radar for Data Migration Tools 2022 and Coldago Report on Unstructured Data Management 2022, and covered in Gartner Hype Cycle for Hybrid Cloud Storage, 2022.
  • Continued product innovation with Smart Data Workflows, Departmental/User Self-Service and Hypertransfer for Elastic Data Migration.

Customer Trends in Unstructured Data Management and Storage
Komprise internal research on its customers during 4Q22 uncovered several trends which will likely persist throughout the coming year. Customers are looking to prioritize time and investment in the following areas.

  • Reducing IT spending by pivoting to more of an Opex environment and by deleting data that is no longer needed to reduce storage costs and complexity.
  • Simplifying infrastructure, getting rid of legacy apps and software and data center consolidation to support business growth and IT modernization.
  • Managing research workflows and the full lifecycle of data: Examples include, from a major university: enabling users to share data between labs and send some data to the cloud for processing, then bring it back on-premises.
  • Use industry standards to move data easily between platforms.
  • Externalize (tier) data off NAS: IT and storage managers want to tier cold data from across the business to cheaper, secondary storage to save money and free up primary storage capacity.

Every enterprise IT organization today is looking to cut costs as they modernize and simplify how their users can get faster access to data,” says Krishna Subramanian, COO and co-founder. “This is why unstructured data management is becoming a must-have strategy for companies to be efficient, stop overspending on data storage, ensure successful migrations to the cloud and generate new value from data.”

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Still private, Komprise didn't share its revenue but only some indirect indicators related to its growth in percentage in various domain both for financial and related to its installed base and use cases adoption.

2022 in various areas has demonstrated positive activities and the company has raised $37 million for a total of $87.7 million.

As the company recently has introduced several new services such the Global File Index, Hypertransfer and the Microsoft File Migration module, the firm continues to deliver a rich unstructured data management experience. Tiering, HSM-like and archiving for file-based data are hot and we wonder what can be added now in the portfolio and what could be the next step for the company. Among directions, we see S3-to-tape, a sort of modern VTL, that can extend the archiving cycle, reduce costs even more and provide remote access thanks to the HTTP protocol. But as the tape library is "behind" a S3 entity, this model should be transparent for Komprise.

Supporting lots of storage devices, subsystems, protocols and access methods, the firm partners with a vast list of technology companies and one of these could be the next home for Komprise as we don't believe in an IPO.

Globally all indicators are green for Komprise and 2023 will be an interesting year in that unstructured data management area, the battle is clearly on among top competitors.