Panzura Closes 2017 with 100 Percent Growth

CAMPBELL, Calif., Jan. 31, 2018 /PRNewswire/ -- Panzura, the leader in enterprise hybrid cloud file services and cloud data management, today announced a record year and 100 percent bookings growth in its fourth quarter. New customer wins during the fourth quarter grew 115 percent over the same quarter in the prior year. The company saw accelerated adoption for its enterprise hybrid cloud file services (NFS, SMB, and object) for consolidation of backup, archive, and disaster recovery; NAS replacement; real-time collaboration; and DevOps. Fueled by digital transformation and explosive growth of data, there was strong new and existing customer growth across all key verticals including healthcare, financial services, energy, media and entertainment, engineering, and government. According to IDC, the worldwide data services for hybrid cloud market is forecast to be $68.8B in 2021.

"The company executed extremely well in 2017, which resulted in record growth and customer adoption," said Patrick Harr, CEO of Panzura. "Our enterprise hybrid cloud file services platform, Panzura CloudFS, non-disruptively moves workloads to the cloud without sacrificing performance, delivers 90 percent reduction in NAS file infrastructure, and saves 70 percent total cost. With the $68B market, the leading enterprise cloud file system, and significant investments in innovation, leadership, sales, and channel, I expect our record momentum to continue."

Key Highlights from 2017 Include:

• Record bookings and customer adoption
• Q4 bookings were up 100 percent and new customer acquisition was up 115 percent over the same quarter in the prior year
• Accelerated channel momentum
• Q4 channel growth was up 360 percent over the same quarter in the prior year; channel bookings were up 76 percent for the year
• Record data under management
• 140 percent growth in petabytes under management for the year, with 90 percent of data stored in AWS and Azure
• Category-best customer satisfaction
• Net Promoter Score(NPS), an industry measurement of customer satisfaction, reached 78

New Advisory Board Members

Tech luminaries Aruna Ravichandran and Mike Gustafson have joined the Panzura advisory board. Aruna Ravichandran is known as a thought leader in DevOps, digital transformation, and software-defined networking (SDN), and was named one of the top 100 most influential women in Silicon Valley by Silicon Valley Business Journal. Mike Gustafson brings over 25 years of experience as a successful leader of multiple public and private technology companies and teams, across infrastructure and software offerings and high growth businesses from pre-revenue to multi-billion dollar revenues.

Expanded Leadership Team

Panzura also built out its leadership team with the addition of several new members.

• Steve Morgan, Chief Financial Officer - Morgan comes most recently from Cyphort and Edgewater Networks, with a career focused on providing financial and operational leadership for high growth technology.
• Criss Marshall, Chief Marketing Officer - Marshall has successfully led marketing programs generating excellent ROI and increased sales for startups to multibillion-dollar global enterprises such as NetApp, Imperva, and Palerra.
• Geoff Tudor, Vice President and General Manager for Cloud Data Services - Tudor was most recently the Chief Cloud Strategist for HPE, where he helped grow the private cloud business from $50M to over $1B in annual revenues.
• Jason McKinney, Vice President of Channels and Alliances - McKinney comes from CloudGenera where he was co-founder and Chief Revenue Officer. He also held leadership positions at Salesforce.com and VMware.
• John Scott, Vice President of North American Sales - Scott was Vice President of US HP cloud sales at HPE, and led the Panzura East and North Central teams to a record breaking year in 2017.

About Panzura

Panzura is the leader in enterprise hybrid cloud file services and cloud data management. Panzura Freedom, an intelligent hybrid cloud storage platform, represents a breakthrough in managing explosive growth in unstructured data, delivering data center performance with the economics, scalability, and durability of the cloud. Panzura CloudFS underpins Panzura Freedom and incorporates intelligent file services backed by 26 patents. Using Panzura, enterprises shift from legacy storage as they consolidate and simplify their storage into the cloud. Organizations like Milwaukee Tool, American College of Radiology, and Chevron use Panzura for active archive, hybrid cloud NAS, cross-site collaboration, and DevOps use cases. Please visit www.panzura.com for further information.

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SOURCE Panzura