eFolder Achieves 108% Y/Y Growth in Recurring Revenue in 3Q14

eFolder, Inc., in BC and cloud file sync services, announced record breaking results for the first three quarters of 2014.

Growth is the result of success with its core backup and DR services, integration and expansion of its recent acquisitions, Anchor and Cloudfinder, a technology partnership with Acronis International GmbH and major product and service enhancements.

eFolder has experienced 35 consecutive quarters of growth since the company launched its first product in 2005. Through Q3, the company’s 2014 recurring revenue has increased 108% versus the same period in 2013.

To support this growth, the company has expanded operations in San Francisco, Denver, Atlanta, Canada, the UK, the Netherlands and Sweden and has added more than 60 personnel to its team this year.

“eFolder has emerged as the channel-friendly one-stop-shop for all things relating to data protection, BC, and file sync and sharing,” says Kevin Hoffman, CEO, eFolder. “Partners love working with a single vendor to meet the diverse data protection, availability, access, and collaboration needs of any of their clients. Whether client data resides in desktops, servers, laptops, NAS/SAN devices, mobile devices or SaaS apps in the cloud, eFolder has it protected. You won’t find that level of coverage with any other vendor, and we’re expanding the scope of what we can protect at an ever increasing pace.“

eFolder announced the acquisition of Cloudfinder in June of this year. eFolder Cloudfinder is a cloud-to-cloud backup service to offer unified backup and instant full-text search across multiple cloud services, including Office 365, Google Apps, Salesforce and Box.

“We are continuously innovating and investing to create new profit opportunities for the IT channel,” says Pierre Tapia, VP of product management. “The acquisition of Cloudfinder is a prime example of eFolder preparing partners for market shifts and evolving client demands, namely the transition to cloud services. Giving partners the technology to backup broadly adopted cloud applications is one of many winning strategies that eFolder is employing to help channel partners thrive in the fast changing technology landscape.“

“A fundamental part of our success is building strong relationships with our channel partners,” says Ted Hulsy, VP marketing. “At the beginning of 2014, we launched a massive national lunch-and-learn campaign to personally bring our message to prospective channel partners wherever they are. In the first three quarters of the year, our team conducted over 250 lunches in nearly 80 cities, with over 150 more lunches planned in Q4 alone.“

Such investments in partner recruitment have also been matched by investments in the growth and success of partners.

“A key ingredient of eFolder’s success is superior partner support,” says Hoffman. “Support excellence helps partners succeed with their clients and in turn, leads to fierce partner loyalty and industry-leading organic revenue growth. eFolder and our partners are thriving by delivering to clients the most comprehensive suite of data protection, BC and file sync services.“