ExaGrid claims uptick in customers in Q1

Privately held ExaGrid claims it had a record-breaking first 2023 quarter, with a customer count that’s now risen past 3,800.

These customers are using ExaGrid’s Tiered Backup Storage, purpose-built and scale-out backup appliances, with backups stored in a fast ingress and restore landing zone until being deduplicated for longer-term retention. ExaGrid competes with Dell’s PowerProtect and similar systems from HPE (StoreOnce), Quantum (DXi) and Veritas (NetBackup Flex) and, latterly, all-flash backup systems such as Pure’s FlashBlade.

President and CEO Bill Andrews said: “ExaGrid prides itself on having a highly differentiated product that just works, does what we say it does, is sized properly, is well supported, and just gets the job done. We can back up these claims with our 95 percent net customer retention, NPS score of +81, and the fact that 92 percent of our customers have our Retention Time-Lock for Ransomware Recovery feature turned on, and 99.2 percent of our customers are on our yearly maintenance and support plan.” 

ExaGrid growth history
ExaGrid’s growth history

We don’t get to see actual revenue numbers but ExaGrid claimed it experienced:

  • A 74.5 percent competitive win rate for the quarter
  • 141 new customers taking the customer count past 3,800
  • Over 60 six-figure new customer deals and three seven-figure new customer deals
  • Sales and support teams in 30 countries and customer installations in over 80 countries
  • Company has been cash, EBITDA, and P&L positive over the last 10 quarters
  • 40 percent of revenue is ARR

Andrews said: “ExaGrid is continuing to expand its reach and now has sales teams in over 30 countries worldwide and has customer installations in over 80 countries. We have also added dedicated sales teams for the large enterprise and large IT Outsourcer organizations. Outside of the United States, our business in Canada, Latin America, Europe, the Middle East, Africa, and Asia Pacific is rapidly growing.”

ExaGrid customer count, large deals

Andrews sent out an internal memo claiming ExaGrid has “the fastest ingest for the fastest backups and the shortest backup window.” It features the “Veeam Data Mover, Landing Zone (no inline dedupe), job concurrency for parallel backup jobs, Veeam SOBR (Scale-Out Backup Repository) for front-end performance load balancing, encryption with self-encrypting drives versus encryption in software, optimized file system for large backup jobs, etc.”

This means backup and restore speed, with Andrews claiming it beat a rival “in side by side testing by 2X,” adding: “They are not optimized for large backup jobs, they don’t use the Veeam Data Mover, they don’t do job concurrency, etc. etc. etc. It is not about the storage, it is about the software before the storage.”