Company announces best 3rd quarter revenue in its history and hits 11th consecutive cash positive quarter
WESTBOROUGH, Massachusetts, Oct. 5, 2016 /PRNewswire/ -- ExaGrid®, a leading provider of disk-based backup storage with data deduplication solutions, today announced record Q3 revenue. This is also the company's eleventh consecutive cash positive quarter. Marking continued success in its upmarket move into enterprise accounts, ExaGrid continues to book six-figure new customer opportunities.
"ExaGrid is continuing to grow while remaining cash positive. We've found a business model that works," said Bill Andrews, CEO of ExaGrid. "ExaGrid is the only backup storage company that overcomes the three compute challenges of backup storage with data deduplication. All vendors reduce storage and bandwidth to varying degrees, but only ExaGrid fixes the challenges of: backup ingest performance, restoring data and booting VMs from deduplicated data, and an expanding backup window as data grows," said Andrews.
ExaGrid's ingest is three times faster – and restores/VM boots are up to ten times faster – than its closest competitor due to its unique landing zone and scale-out architecture. In addition, since ExaGrid adds compute with capacity, the backup window remains fixed in length as data grows.
In Q3 2016, ExaGrid had another strong quarter for six-figure new customer opportunities as the company continues to push further up market into the Fortune 1000.
In addition to the financial milestones of record revenue and remaining cash positive, ExaGrid achieved the following in Q3:
- DCIG ranked ExaGrid's EX40000E and EX32000E in its top "Recommended" category in its 2016-17 Sub-$100K Deduplicating Backup Appliance Buyer's Guide
- SVC Awards selected ExaGrid's EX40000E appliance as a "Product of the Year" Finalist in the Backup and Recovery/Archive category
ExaGrid continues to expand its worldwide reseller channel and add to its growing list of strategic partners, including Veeam, Nimble, and Zerto.
"ExaGrid has over 300 published customer success stories on its website, which is more than all other vendors in the space combined," said Andrews. "This demonstrates how satisfied customers are with ExaGrid's architectural approach, product, and customer support."
Organizations come to us because we are the only company that implemented deduplication in a way that fixed all the challenges of backup storage. ExaGrid's unique landing zone and scale-out architecture provides the fastest backup — resulting in the shortest fixed backup window, the fastest local restores, fastest offsite tape copies and instant VM recoveries while permanently fixing the backup window length, all with reduced cost up front and over time. Learn how to take the stress out of backup at www.exagrid.com or connect with us on LinkedIn. Read how ExaGrid customers fixed their backup forever.
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