Wednesday, October 9, 2019

Cohesity completes transition to software business model

Cohesity, which specializes in data management, completed its transition to a software business model.

Key highlights from FY 19 fiscal year include the following:

  • The company’s software revenue grew more than 100 percent year-over-year.
  • Within the last two quarters, more than 50 percent of Cohesity’s new contracts were recurring, further emphasizing the success of a subscription-based software model.
  • Cohesity received a customer software order valued at more than $10 million.
  • The number of customer orders worth more than $1 million surged by 350 percent compared to the previous year.
  • Cohesity doubled the number of customers utilizing its solutions compared to the previous fiscal year.
  • More than half of Cohesity customers licensed the company’s cloud capabilities in FY 2019, showing growing momentum for hybrid and multi-cloud deployments.

“Demand for our disruptive data management solutions continues to skyrocket as more companies turn to Cohesity to simplify backup, defend against ransomware, make data easier to manage, and solve mass data fragmentation,” said Mohit Aron, CEO and founder. “And now, with the Cohesity MarketPlace, we are enabling customers to bring apps to the data, which opens a new world of possibilities in extracting value from data. Just as Google made it easy for consumers to manage and extract value from consumer data, we are doing the same with enterprise data across hybrid and multi-cloud environments.”

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