226% Growth Y/Y for Storj

Storj Labs, Inc. announced several milestones, including an integration with the ivideo editing software application, Adobe Premiere Pro, and 226% Y/Y revenue growth.

These latest updates cement the company as a driving force behind the next-gen cloud storage landscape for its secure, reliable and cost-effective cloud storage solutions. The firm reduces cloud costs by up to 90% compared to traditional cloud providers, and also reduces carbon emissions by using existing, unused hard drive capacity.
   
New partnerships, new customers, faster transfer speeds at 1/10th the price
It has seen a rise in adoption, with customers spanning use cases in AI, M&E, backup and DR, and log file data storage. This momentum is due to several factors, including: transfer speeds that are 2-3x faster than the hyperscalers and more globally consistent, cost savings, and a growing list of partnerships and technical integrations. For example, in the media industry, Premiere Pro, renowned as the premier video editing software, has selected Storj as its globally distributed cloud solution. This will empower video editors, filmmakers and content creators to harness the full potential of Premiere Pro while leveraging firm’s faster, more reliable, and eco-conscious storage solution when storing and retrieving their data at scale.
 
A list of customers have joined the growing Storj ecosystem, including Toysmith, Acronis, Ad Signal, Valdi, Cribl, Livepeer, Bytenite, Cloudvice, Amove, and Kubecost, as partners and customers in the last 3 months. 
 
The future of cloud object storage is decentralized, with Storj leading the way
Forrester’s latest Object Storage Landscape, 2Q23 report declares decentralization a top disruptor, with Storj listed among 26 notable vendors. The report predicts that, “Decentralization of data storage will disrupt centralized object storage providers as computing shifts to the edge.” 
 
Independent report from the University of Edinburgh reveals faster transfers for big data on a global scale
 
In leveraging Storj for large quantum physics datasets, the University of Edinburgh conducted testing on Storj’s transfer performance and speed improvements. With transfer rates reaching 800MB/s, the university’s findings indicate a 2x-4x factor improvement in Storj’s transfer performance over the prior year. The results underscore that parallelism, which is natively built-in to the company’s network through the distribution of data across 1000’s of points of presence WW, helps to achieve fast transfer rates and eliminates the impact of geographical distance on data transfer speed between the EU and the US East Coast.