Axcient Forges Blistering Growth Path In Business Continuity And Disaster Recovery Market
Cloud Provider Achieves Top Rankings in Inc. Magazine’s Annual Survey with Innovative, Cost-Effective Solution to Eliminate Business Downtime
Axcient, the leading cloud solution for disaster recovery and business continuity, is on a blistering path, with three year growth of 3,116 percent, which is far greater than overall industry growth forecasts. Analysts have said they expect the disaster recovery as a service market to grow at a compound annual growth rate of 55.2 percent and to reach $5.7B by 2018. Earlier this month, Inc. Magazine named Axcient the No. 1 fastest growing Security company in the U.S. and the No. 4fastest growing company in Silicon Valley. Overall, Axcient was No. 110 on the Inc.5000 list.
“During the past 12 months, we’ve experienced strong growth in our revenues, our channel partnerships and the amount of data being protected by Axcient’s cloud service. This is all indicative of the growing need for a reliable cloud-based solution for making sure that companies’ information is protected and that critical business applications are always available,” said Justin Moore, CEO of Axcient. “Traditional solutions for backup, business continuity and disaster recovery no longer satisfy the needs of today’s businesses and Axcient’s growth is proof of that. We are again honored to be acknowledged by Inc. Magazine, and to see more partners and businesses seeking our innovative solution, which replaces multiple legacy solutions and simplifies and significantly reduces the time to protect and restore critical corporate data and applications.”
Axcient saw a dramatic shift among companies moving away from unreliable tape backup solutions toward more integrated and secure cloud-based platforms. Today, Axcient has more than 3,500 customers. And, during the past three years, the company has increased the number of channel partners reselling Axcient by 600 percent, to 1,550 partners, including All Covered, a division of Konica-Minolta, Thrive, a division of Staples, and Ingram Micro, the largest distributor of cloud services. Axcient also has a strategic technology and marketing alliance with Hewlett-Packard– which ranked Axcient as its AllianceOne Partner of the Year–for the local appliance that is installed at customer sites.
The amount of data being stored in the Axcient Cloud has grown to over 4 petabytes – comprised of more than 15 billion files and applications – over the past 12 months. And with approximately 1 PB of new data being added each quarter and accelerating, the company expects to double the amount being stored in the Axcient Cloud in less than a year. Axcient’s largest deals booked in 2013, in terms of monthly recurring revenue (MRR), are 230 percent higher than those booked in 2012.This trend is driven by the company’s increasing focus on mid-market and larger enterprises, such as DataSafe, Budget Rent-a-Car and Union Bank, which need protection for their multisite operations as well as a lower-cost alternative to building their own data centers. Success in the mid-market is further enabled by the recent deployment of Axcient next-generation storage architecture, also announced today, as well as the 300 new features and enhancements rolled out during the past year alone.
What’s Driving the BC/DR Market
Aberdeen Group’s recently published research report, “Business Continuity and Disaster Recovery: Don’t Go it Alone,” reported on the top four pressures driving organizations to launch a business continuity/disaster recovery (BC/DR) plan and fueling industry growth. These included risk of business interruption, business or regulatory requirements, cost of downtime and loss of business critical data.
“Our data shows that risk of business interruption is the number one reason companies implement or update their BC/DR plans, processes and technologies,” said Robert Bready, research director and author of the report at Aberdeen Group. “This is no surprise, considering our research found that the average cost per hour of downtime was $163,674.”
To address the wide variation in cost of downtime among companies of different sizes and industries, Axcient has launched a sophisticated cost of downtime calculator used by partners and customers to assess the cost associated with revenue, productivity and data loss, and generate custom reports tailored to their business.
Axcient is an entirely new type of cloud platform that eliminates data loss, keeps applications up and running, and makes sure that IT infrastructures never go down. Designed for today’s always-on business, Axcient replaces legacy backup, business continuity, and disaster recovery software and hardware, and reduces the amount of expensive copy data in an organization by as much as 80%. By mirroring an entire business in the cloud, Axcient makes it simple to access and restore data from any device, failover IT systems, and virtualize your entire office with a click - all from a single duplicated copy. Trusted by thousands of businesses to store and protect more than 10 billion files and applications, Axcient maximizes productivity, reduces cost, and eliminates risk. The company is headquartered in Mountain View, Calif.