ExaGrid’s regular as clockwork growth machine

Exagrid has recorded another record-breaking revenue and bookings quarter, taking its customer count past 3,400.

This builds on its first 2022 quarter revenue record with ExaGrid exceeding that and reporting well over 20 percent year-on-year revenue growth. The company says its growth is accelerating, and it’s hiring over 50 additional inside and field sales staff worldwide.

Bill Andrews, ExaGrid president and CEO, said: “ExaGrid offers the best story to fix backup storage, as well as the most unique ransomware recovery solution in the industry, with the best cost up front and over time, the fastest backup and restore performance, the ability to recover from a natural or man-made site disaster, and the ability to recover data after a ransomware attack, which remains top of mind in today’s world.”

The company supplies appliances with a non-deduplicated network-facing disk-cache Landing Zone where the most recent backups are written for fast backups and for fast restores. Its Adaptive Deduplication technology deduplicates the data into a non-network-facing repository where data is stored for longer-term retention – 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. 

ExaGrid has a scale-out architecture, which maintains a fixed-length backup window and, it says,  eliminates disruptive and costly forklift upgrades and product obsolescence.

In the second quarter ExaGrid added 168 new customers, with 43 six- and seven-figure deals, and has more than 3,400 active upper mid-market to large enterprise customers. It was also cash-positive for the seventh quarter in row. We’ve tabulated the data for the past seven quarters: 

The numbers of new customers and six- and seven-figure deals is holding up well and ExaGrid is convinced there are more orders out there for the taking. That’s why it’s hiring 50 extra sales people.

We have to ask ourselves why other deduplicating backup appliance vendors with disk-based products aren’t taking note of this almost rampaging progress and doing something about it – like acquiring ExaGrid or emulating its technology. Stuff must be going on behind the scenes and something will surely be revealed in the future.