Cloud storage gateway supplier Nasuni is growing fast as more and more file storage passes through its gateway.
2015 was a solid year for the firm, and, according to Nasuni itself, these were some of its highlights:
- A record number of new customers in 2015 drove 70 per cent growth in capacity subscription revenue over 2014
- Production customers reached 223 at year end, an increase of 58 per cent from 2014
- Terabytes (TBs) under management grew 111 per cent
- Annual Recurring Revenue (ARR) increased 84 per cent
- Subscription dollar retention rate far exceeded 100 per cent
- Customer churn was less than five per cent
The company is projecting greater than 100 per cent ARR growth in 2016. It’s a classic land-and-expand strategy, with every conceivable file workload coming through Nasuni’s gateway.
Scott Dussault, Nasuni’s COO and CFO, said: “In 2015, our bookings from existing customer expansion grew 178 per cent. That expansion, coupled with the record number of new customers acquired in 2015, drove 70 per cent subscription revenue growth in the year.”
Its CEO, Andres Rodriguez, said: “We blew past previous company records both for new accounts and for the expansion of contracts within existing accounts… With this wind at our back, we are making significant investments in our engineering and sales organisations. The era of hardware’s supremacy in file storage has come to an end.”
We’d read that as Rodriguez claiming the era of on-premises file storage supremacy has come to an end. Of course he’s running a startup with a business model to prove and ambitious growth targets. For sure cloud storage use is growing, and legacy, on-premises incumbents’ product sales are falling.
But, in terms of TBs stored on-premises hardware must still account for more than half of all enterprise storage. If cloud storage trends continue though, that proportion will surely lessen, with cloud supporters seeing it fall below half. This rising cloud storage tide is surely lifting Nasuni’s boat. ®