ExaGrid Reports Record Bookings and Revenue in Q3 2021
ExaGrid posts 3 record-breaking quarters in a row while maintaining positive cash and P&L status
MARLBOROUGH, MASS.--(Business Wire / Korea Newswire) October 06, 2021 -- ExaGrid®, the industry’s only Tiered Backup Storage solution, today announced that it had an all-time record bookings and revenue in the quarter ending September 30, 2021. This accomplishment was on the back of ExaGrid’s record-breaking quarters in Q1 and Q2 2021, increasing both bookings and revenue to a new all-time high.
ExaGrid’s revenue grew over 57% as compared to Q3 2020, and grew 10.4% sequentially from Q2 2021 to Q3 2021. In addition, ExaGrid was cash positive in the quarter for fourth quarter in row. ExaGrid added a record 153 new customers in Q3 2021, including 43 six- and seven-figure deals, and has more than 3,100 active customers that use ExaGrid Tiered Backup Storage to protect their data. ExaGrid’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-generation deduplication 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 deduplication for efficient long-term retention backup storage. ExaGrid’s Tiered Backup Storage provides the best of both worlds,” said Bill Andrews, President and CEO of ExaGrid.
ExaGrid appliances have a network-facing disk-cache Landing Zone where the most recent backups are written without inline deduplication for fast backups and are stored in an undeduplicated format for fast restores. ExaGrid uses scale-out architecture, which maintains a fixed-length backup window and also eliminates expensive and disruptive forklift upgrades and product obsolescence. ExaGrid’s Adaptive Deduplication 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 ExaGrid’s Retention Time-Lock feature, and immutable data objects, guards against the backup data being deleted or encrypted.
Highlights of Q3 2021:
· 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 six and seven-figure new customer deals
· Company remains cash positive over the last four quarters
· More than 3,100 customers protect their data with ExaGrid Tiered Backup Storage
ExaGrid Tiered Backup Storage - Built for Backup
“ExaGrid realized that disk is too expensive for longer-term retention, that deduplication in the backup application impedes performance and does not bring enough deduplication, that inline deduplication 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 two-tiered approach provides the fastest backup and restore performance with lowest cost storage efficiency.
In addition, ExaGrid 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.
ExaGrid provides Tiered Backup Storage with a unique disk-cache Landing Zone, long-term retention repository, and scale-out architecture. ExaGrid’s Landing Zone provides for the fastest backups, restores, and instant VM recoveries. The retention repository offers the lowest cost for long-term retention. ExaGrid’s scale-out architecture includes full appliances and ensures a fixed-length backup window as data grows, eliminating expensive forklift upgrades and product obsolescence. ExaGrid offers the only two-tiered backup storage approach with a non-network-facing tier, delayed deletes, and immutable objects to recover from ransomware attacks. Visit us at exagrid.com or connect with us on LinkedIn. See what our customers have to say about their own ExaGrid experiences and learn why they now spend significantly less time on backup in our customer success stories.
ExaGrid is a registered trademark of ExaGrid Systems, Inc. All other trademarks are the property of their respective holders.
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