136% Revenue Growth Y/Y in 1Q20 and 92% From 4Q19 for Portworx

Portworx, Inc. announced record momentum for 1Q020, including 136% growth in revenue Y/Y and 92% growth in revenue from 4Q19.

It added new customers and repeat purchases in 1Q20 including Kroger, Audi, Nvidia and LogDNA, and now counts more than 145 customers, including 54 Global 2000 or government accounts.

Additionally, it was named the #1 Kubernetes storage platform by GigaOm Research’s inaugural report on the Kubernetes market.

Its increase in revenue demonstrates the growing confidence from customers, as well as the market need for full stack management for container-based applications running on Kubernetes at a time when digital transformation is seen as a critical competitive advantage.

Today’s enterprises are under pressure to deliver new products and features quickly and securely in order to meet increasing customer demand. Containers and Kubernetes have emerged as a way to manage enterprise data and resources, with 87% of businesses already running container technologies and nearly half of businesses already running apps on Kubernetes in production.

With over half of containers now stateful according to Voice of the Enterprise – DevOps, security, AI/ML, and cloud native – 2020 by 451 Research, part of S&P Global Market Intelligence, enterprises must meet complex requirements like storage, security, data protection, backup and recovery, DR, SLA management, and compliance. Portworx is the a cloud-native storage and data management solution that delivers this full-stack Kubernetes storage and data management experience. It is designed to handle enterprises’ complex requirements and simplifies data management across any hybrid or multi-cloud environment.

“Portworx has found success throughout the years by listening to enterprises in the cloud-native storage space and building solutions to their real-world problems. It’s that solution-focused drive that helps us provide customers with all the backup, storage and data protection solutions they need to address their ever-changing business requirements,” said Murli Thirumale, CEO and co-founder. “Our company’s first-quarter momentum is the result of constant conversations with customers and partners. As the industry shifts and our customers’ needs evolve, we will embrace challenges and continue to learn with them. We plan to keep our foot on the pedal and look forward to continued growth and success in 2020 and beyond.“

“With the Covid-19 crisis increasing demand on the digital systems used by our customers to support their employees’ remote work, e-commerce and other high-demand activities, we’ve had to scale our apps and infrastructure beyond what we could have imagined only a few months ago,” said Lee Liu, chief architect and co-founder, LogDNA. “Luckily, with Portworx providing the Kubernetes storage and data management services essential to the performance, availability and security of our data, we have been able to easily meet the demand during these trying times.”

Additional 1Q20 successes:

Expanding its storage platform for Kubernetes with new solutions, including one-click PX-Backup for Kubernetes-specific data protection and backup which was made available.
Completed 13 sales over $100,000, up from 5 sales over $100,000 in 1Q19.
Achieved the milestone of 75% of customers are in production.
The average customer bookings expanded in 8 months to 400% of the original booking. These expansions were fueled by additional license purchases and add-on products like PX-DR and PX-Backup.
Grew net retention rate to 153%.
Rolled out pay-as-you-go pricing for Portworx Enterprise.
Introduced Portworx Essentials, a forever free version of the Portworx platform designed for small-scale production applications.
Partnered with Google Cloud Anthos via Google Cloud Marketplace to help Google Cloud customers overcome the most common challenges associated with Kubernetes rollouts (e.g., performance, HA, DR, backup, data security, multi-cloud migrations, and automated storage operations).
Named to CRN‘s list of 20 Coolest Data Management Companies.
Named Leader in GigaOm Radar Report for storage for Kubernetes

Read also:
Exclusive Interview With Murli Thirumale, CEO of Portworx
Accelerating on container storage and Kubernetes
by Philippe Nicolas | March 18, 2020 | News