Cohesity Increased Revenue 300% in FY18

Cohesity, Inc. announced that its revenues from FY18, which closed on July 31, increased 300% 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 its platform in numbers, with customer adoption accelerating 75% in the fourth quarter compared to the third.

The company saw major customer adoption across an array of verticals globally including financial services, healthcare, public sector, life sciences, media and technology, telecommunications, and education. This financial performance and customer momentum builds on the company’s results from the previous year and continues to validate the growing demand for Cohesity’s 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 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 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
• Added numerous marquee enterprise customers in FY18, including Air Bud Entertainment, AutoNation, Beam Suntory, BC Oil and Gas Commission, Bungie, Harris Teeter, Hyatt, Kelly Services, LendingClub, Piedmont Healthcare, Schneider Electric, the San Francisco Giants, TCF Bank, the U.S. Department of Energy, the U.S. Air Force, and WestLotto.
• Enterprises are increasingly selecting the company to fuel its 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.

Innovation That Delivers Business Value
• Firm’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 capabilities to generate valuable insights from untapped data.
• In February, the vendor 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 lower infrastructure costs while simplifying data management – a key reason a growing share of customers, like Manhattan Associates, chose Cohesity over competitors. In fact, more than 60% of company’s customers utilize Cohesity for file services in addition to the firm’s backup offerings.
• The vendor 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, it 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 VM conversion with Cohesity CloudSpin, announced in April.

Top-Tier Financial Backing for Rapid Growth
• In June, Cohesity raised $250 million in an oversubscribed Series D funding round led by the SoftBank Vision Fund with participation from strategic investors Cisco Investments, Hewlett Packard Enterprise, and Morgan Stanley Expansion Capital. This is only the second time SoftBank Investment Advisers has invested in an enterprise software company.
• The company 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% of partners grew their business in excess of 100% in FY18, while 75% of partners grew their business by more than 200%. The firm remains 100% channel focused.
• It enhanced its partnerships with Cisco in FY18. Through this partnership, it has integrated its software on Cisco Unified Computing System (UCS), while also providing enterprise backup and recovery for applications running on Cisco HyperFlex.
• The firm also continued to advance its partnership with HPE in FY18, empowering more customers to take advantage of its software on HPE ProLiant servers, simplifying secondary data infrastructure while making data more productive.

Recognition and Accolades from Industry Experts, Company Growth
• Firm’s technical support team was recognized on the inaugural 2018 Gartner Peer Insights Customers’ Choice for Data Center Backup and Recovery Software list, earning a 4.8 of 5 stars rating. The company also won the NorthFace ScoreBoard Award for excellence in customer service for the second year in a row.
• 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.
• In May, Glassdoor, one of the world’s largest job and recruiting sites, ranked Cohesity among the top 50 private cloud computing companies to work for, and CRN included Cohesity on its 2018 Emerging Vendors List that recognizes storage technology suppliers who are shaping the future of the IT channel through unique innovations.
• The vendor has continued to grow its employee base, more than tripling the company’s headcount to nearly 700 globally. Within the last eight months, it christened its new company HQs in downtown San Jose, CA while also opening its second major US office in Raleigh, NC.

Read also:
Cohesity Raises $250 Million, Highest Round Since 2015 Among Storage Start-Ups
Investors led by SoftBank, then Cisco and HPE
2018.06.12 | Press Release | [with our comments]