ExaGrid Continues Its Steady Growth in Q1 2023
ExaGrid Reports Strongest Q1 on Record
MARLBOROUGH, Mass.–(BUSINESS WIRE)– ExaGrid®, the industry’s only Tiered Backup Storage solution, today announced that it had its strongest Q1 in the company’s history, for the quarter ending March 31, 2023.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230411005306/en/
ExaGrid had a record first quarter of 2023 and grew over 20% as compared to Q1 of 2022. ExaGrid continues to grow at over 20% per year while maintaining positive P&L, EBITDA, and free cash flow. ExaGrid added 141 new customers in Q1 2023, including over 60 six-figure new customer deals. The new customer ASP was once again well over $100K in the quarter. ExaGrid has more than 3,800 active upper mid-market to large enterprise customers that use ExaGrid Tiered Backup Storage to protect their data. ExaGrid’s growth is accelerating, and the company is hiring to expand its sales teams worldwide.
“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,” said Bill Andrews, President and CEO of ExaGrid.
“Years ago, ExaGrid realized that no vendor was building storage specifically for backup, as they were all selling primary storage products as backup storage targets which is expensive or they were selling inline deduplication appliances, which are slow for backups and restores and result in costly forklift upgrades. Backup storage has unique needs, due to large backup jobs, incrementals, synthetic fulls, backup rotation, long-term retention and many other aspects that make backup different than primary storage. ExaGrid’s unique Tiered Backup Storage was built specifically to improve backup performance, restore performance, scalability as data grows, security, ransomware recovery, disaster recovery and the economics of backup, with low costs up front and over time,” said Andrews. “Primary storage is not as fast for large backup jobs, is typically not scalable, and it is very expensive for longer-term retention, and it is network-facing making it vulnerable to security attacks. Inline deduplication appliances are slow for backups, slow for restores, are not scalable, and are also network-facing making them vulnerable to security attacks.
“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% net customer retention, NPS score of +81, and the fact that 92% of our customers have our Retention Time-Lock for Ransomware Recovery feature turned on, and 99.2% of our customers are on our yearly maintenance and support plan,” said Andrews.
Highlights of Q1 2023:
- Strong competitive win rate at 74.5% for the quarter
- Brought on 141 new customers
- Over 60 six-figure new customer deals and 3 seven-figure new customer deals
- Sales and support teams in 30 countries and customer installations in over 80 countries
- Company remains Cash, EBITDA, and P&L positive over the last 10 quarters
- More than 3,800 customers protect their data with ExaGrid Tiered Backup Storage
- ExaGrid has a customer retention of 95% and over 99% of customers are on a yearly maintenance and support contract
- NPS Score of +81
ExaGrid provides Tiered Backup Storage with a unique disk-cache Landing Zone, long-term retention repository, and scale-out architecture. ExaGrid’s Landing Zone provides for the fastest backups, restores, and instant VM recoveries. The Repository Tier offers the lowest cost for long-term retention. ExaGrid’s scale-out architecture includes full appliances and ensures a fixed-length backup window as data grows, eliminating expensive forklift upgrades and product obsolescence. ExaGrid offers the only two-tiered backup storage approach with a non-network-facing tier, delayed deletes, and immutable objects to recover from ransomware attacks.
ExaGrid has physical sales and pre-sales systems engineers in the following countries: Argentina, Australia, Benelux, Brazil, Canada, Chile, CIS, Colombia, Czech Republic, France, Germany, Hong Kong, Iberia, India, Israel, Japan, Mexico, Nordics, Poland, Saudi Arabia, Singapore, South Africa, South Korea, Turkey, United Arab Emirates, United Kingdom, United States, and other regions.
Visit us at exagrid.com or connect with us on LinkedIn. See what our customers have to say about their own ExaGrid experiences and learn why they now spend significantly less time on backup storage in our customer success stories. ExaGrid is proud of our +81 NPS score!
ExaGrid is a registered trademark of ExaGrid Systems, Inc. All other trademarks are the property of their respective holders.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230411005306/en/