Storage Made Easy Achieves 140% Y/Y Growth in Recurring Revenue

Storage Made Easy, trading as Vehera Limited and private enterprise file share and sync provider who focus on governance and control of public and private data clouds, announced strong results for their fiscal Q2 quarter ending September 30th 2014.

The company increased recurring revenues by 140% year on year and achieved a 6th consecutive quarter on quarter growth.
 
Storage Made Easy has enjoyed success from working with ISPs, who resell the product. This channel program is growing and already provides global coverage.

The company has further fuelled expansion by focusing on the hybrid/private cloud market for enterprise file share and sync, where their software appliance acts as a control point for file sharing and auditing of all data for regulatory purposes.
 
In addition Storage Made Easy has gained a foothold in the OpenStack market with a focus on providing its solution for OpenStack Swift and partnering with OpenStack providers, such as SwiftStack, Inc.
 
A key piece of the companies go to market strategy is OEM where the company embeds its software into other products. Examples of this are dedicated cloud drives for storage vendors, and also extending third party products with governance and auditing services for regulatory compliance. An example of the latter occurred in the companies Q2 deal closures in which a global banking application was extended in this way.
 
Storage Made Easy continues to see opportunities to innovate and add value to its platform. This product extension strategy is done in partnership with an existing customer or partner, the most recent example of which is an HTML5 compatible PDF annotation suite which works with any desktop or device and which the company intends to formally bring to market towards the end of the year.
 
“We are pleased to announce such strong growth particularly as the subset of the cloud market we operate in has, in the latter part of this year, turned into a bear market for many vendors,” said Jim Liddle, Storage Made Easy CEO. “As we are storage agnostic and offer a genuine alternative to the ‘my cloud is better than your cloud trend’ we see from many vendors who force you to take their storage as part of their application solution, we have been able to achieve solid revenue growth whilst continuing to expand our market presence and product portfolio.”