Marlborough-Based ExaGrid Reports Record Bookings and Revenue in Q1 2022

In full transparency, the following is a press release submitted to SOURCE media through its business wire service.

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MARLBOROUGH – ExaGrid®, a Marlborough-based storage Storage solution, this week announced that it had an all-time record bookings and revenue quarter ending March 31, 2022.

This accomplishment was on the back of ExaGrid’s four record-breaking quarters throughout 2021, increasing both bookings and revenue to a new all-time high.

ExaGrid’s revenue grew sequentially from Q4 2021 to Q1 2022, and grew in double digits as compared to Q1 2021. In addition, ExaGrid was cash positive in the quarter for the sixth quarter in row.

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ExaGrid added over 150 new customers in Q1 2022, including over 40 six- and seven-figure deals, and has more than 3,300 active upper mid-market and enterprise customers that use ExaGrid Tiered Backup Storage to protect their data.

ExaGrid’s growth is accelerating, and the company is hiring over 50 additional inside and field sales staff worldwide.

“ExaGrid’s continued momentum is the result of the ongoing expansion of our sales team and working with our channel partners across the globe. We continue to see that organizations are realizing that primary storage disk is too expensive for longer-term retention and that traditional deduplication appliances don’t deliver the backup and restore performance needed to ensure that data is always available. ExaGrid offers the best ransomware recovery solution in the industry, which remains top of mind in today’s world,” said Bill Andrews, President and CEO of ExaGrid.

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ExaGrid appliances have a network-facing disk-cache Landing Zone where the most recent backups are written without inline deduplication for fast backups and are stored in an undeduplicated format for fast restores. ExaGrid uses scale-out architecture, which maintains a fixed-length backup window and also eliminates expensive and disruptive forklift upgrades and product obsolescence. ExaGrid’s Adaptive Deduplication technology deduplicates the data into a non-network-facing repository where deduplicated data is stored for longer-term retention, often for 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.

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Highlights of Q1 2022:

• Strong competitive win rate at 75%
• Brought on more than 150 new customers
• Strong quarter in EMEA and APAC regions
• Over 40 six and seven-figure new customer deals
• Company remains Cash and P&L positive over the last 6 quarters
• More than 3,300 customers protect their data with ExaGrid Tiered Backup Storage

ExaGrid Tiered Backup Storage – Built for Backup

ExaGrid provides Tiered Backup Storage with a front-end disk-cache Landing Zone, the Performance Tier, which writes data directly to disk for the fastest backups, and restores directly from disk for the fastest restores and VM boots. The long-term retention data is tiered to a deduplicated data repository, the Retention Tier, to reduce the amount of retention storage and resulting cost. This two-tiered approach provides the fastest backup and restore performance with lowest cost storage efficiency.

In addition, ExaGrid provides a scale-out architecture where appliances are simply added as data grows. Each appliance includes processor, memory and network ports, so as data grows, all resources required are available to maintain a fixed-length backup window. This scale-out storage approach eliminates expensive forklift upgrades, and allows for mixing appliances of different sizes and models in the same scale-out system, which eliminates product obsolescence while protecting IT investments up front and over time.