Revenue of Exagrid Grew Y/Y 57% in 3FQ21

ExaGrid Systems, Inc. had an all-time record bookings and revenue in the quarter ending September 30, 2021.

This accomplishment was on the back of its record-breaking quarters in 1FQ21 and 2FQ21, increasing both bookings and revenue to a new all-time high.

Company’s revenue grew over 57% as compared to 3Q20, and grew 10.4% from 2Q21 to 3Q21.

In addition, it was cash positive in the quarter for fourth quarter in row.

It added a record 153 new customers in 3Q21, including 43 6- and 7-figure deals, and has more than 3,100 active customers that use its Tiered Backup Storage to protect their data. Firm’s growth is accelerating, and the company is hiring over 60 additional inside and field sales staff worldwide.

“IT organizations are truly understanding the difference that ExaGrid brings to the backup storage market with its Tiered Backup Storage approach. ExaGrid reduces the cost of backup storage while maintaining performance and scalability. All of the first-gen de-dupe appliances such as Dell EMC Data Domain, HPE StoreOnce, and Veritas 5340, are slow for backup, slow for restores and don’t scale well. Low-cost primary storage disk is too expensive for long-term backup storage. You need to have an integrated approach that brings the performance of backing up to disk but also data de-dupe for efficient long-term retention backup storage. ExaGrid’s Tiered Backup Storage provides the best of both worlds,” said Bill Andrews, president and CEO.

ExaGrid appliances have a network-facing disk-cache Landing Zone where the most recent backups are written without inline de-dupe for fast backups and are stored in an undeduplicated format for fast restores. The company uses scale-out architecture, which maintains a fixed-length backup window and also eliminates expensive and disruptive forklift upgrades and product obsolescence. Its Adaptive de-dupe technology deduplicates the data into a non-network-facing repository where deduplicated data is stored for longer-term retention, often for weeks, months and years. The combination of a non-network-facing tier (virtual air gap) plus delayed deletes with firm’s Retention Time-Lock feature, and immutable data objects, guards vs. the backup data being deleted or encrypted.

Highlights of 3Q21:
• Strong competitive win rate at 75%
• Brought on more than 150 new customers
• Record revenue in the US, Canada, Latin America, EMEA and APAC
• 43 6- and 7 new customer deals
• Remains cash positive over the last four quarters
• More than 3,100 customers protect their data ExaGrid Tiered Backup Storage 

Tiered Backup Storage – Built for Backup
“ExaGrid realized that disk is too expensive for longer-term retention, that de-dupe in the backup application impedes performance and does not bring enough de-dupe, that inline de-dupe appliances lower the cost of storage but reduce backup and restore performance, and that the backup window grows as the data grows. ExaGrid determined that customers need to have it all: a front-end-disk cache Landing Zone tier for fast backups and restores, a repository tier for long-term deduplicated data, a scale-out architecture to keep the backup window fixed in length as data grows and eliminates forklift upgrades and planned product obsolescence, and an integrated ransomware recovery solution with a non-network-facing tier, delayed deletes, and immutable data objects all in one single integrated approach. ExaGrid’s Tiered Backup Storage is that approach,” said Andrews.

ExaGrid provides Tiered Backup Storage with a front-end disk-cache Landing Zone, the Performance Tier, which writes data directly to disk for the fastest backups, and restores directly from disk for the fastest restores and VM boots. The long-term retention data is tiered to a deduplicated data repository, the Retention Tier, to reduce the amount of retention storage and resulting cost. This 2-tiered approach provides the fastest backup and restore performance with lowest cost storage efficiency.

In addition, the company provides a scale-out architecture where appliances are simply added as data grows. Each appliance includes processor, memory and network ports, so as data grows, all resources required are available to maintain a fixed-length backup window. This scale-out storage approach eliminates expensive forklift upgrades, and allows for mixing appliances of different sizes and models in the same scale-out system, which eliminates product obsolescence while protecting IT investments up front and over time.