Company also achieved powerful combination of growth and profitability
Virtana, the AI-powered unified observability for hybrid cloud company, today announced that it achieved a record-breaking 63% sales growth in Q1 2021 compared to the same quarter a year ago. The company exceeded Q1 2021 sales goals by 111%, after beating the Q4 2020 goal by 109%. Virtana also began operating cash flow positive and EBITDA positive. Virtana sales from cloud-focused products and services experienced a 10x increase from Q4 2020 to Q1 2021, with 200% cloud customer acquisition growth.
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Growth in sales is the result of customer adoption of the new software-as-a-service (SaaS) based Virtana Platform and the proven on-premises workload placement solution VirtualWisdom. Virtana’s solutions provide continuous and deep high-fidelity data insights into IT operations and cloud management, crucial to a faster, successful transition to a digital economy.
The ITOM Software market constitutes $30.9B total with an expected growth of 18% in 2021, according to Gartner, Inc. For cloud specifically, the pandemic has accelerated the overall cloud market rather than impeding it, with worldwide end-user spend on public cloud services forecast to grow 23.1% in 2021 to total $332.35B. Virtana’s growth surpasses expected annual growth for ITOM and public cloud markets.
Virtana grew its customer base in line with its market recognition; the company recently received ‘Customer First’ status from Gartner and, in the past 12 months, was given all 5 out of 5-star reviews from customers for Virtana products and services. One 5-star review stated Virtana Platform is “a great tool to complement any sized cloud Infrastructure.” Another reviewer shared their experience in detail: “Excellent flexible and robust solution with many features, customizations, and extensibility. Analyzed 1,000s of on-prem workloads and built a migration plan with detailed analysis and suggested migration events, plus associated cloud costs. Unique feature is the playback, no one else has this capability and is essential to drive up assurance and de-risk the migrations.”
Virtana was referenced in two recent Gartner reports, including the 2021 AIOps Market Guide and a Hybrid Digital Infrastructure Management (HDIM) guide to Digital Platform Conductor Tools.
Both Cloud Management Platforms (CMPs) and Artificial Intelligence for IT Operations (AIOps) are leading the way as the most used DevOps initiatives in response to COVID-19. According to Gartner: “There is no future of IT operations that does not include AIOps. This is due to the rapid growth in data volumes and pace of change (exemplified by rate of application delivery and event-driven business models) that cannot wait on humans to derive insights.”1
Kash Shaikh, Virtana President and CEO, commented: “Our profitable growth reflects our customers’ trust in Virtana and our focused operating execution. Customers come to us with similar issues when preparing for cloud migration — not enough visibility, unknown performance of their workloads and apps, complexity of duct-taped point tools, looming potential cloud costs. Our platform’s ‘Know Before You Go’ approach solves for the complex challenges of hybrid IT environments.”
Shaikh noted, “I could not be more humbled and prouder of the team we have assembled and the innovative technology we are bringing to enterprises along with the operational discipline. It has enabled us to exceed sales goals two quarters in a row, achieve profitability and receive numerous media, analyst, and customer recognitions. Our relentless customer focus has earned us the Customer First status by Gartner.”
In Q1 2021, Virtana was also recognized as a Coolest Cloud Company for 2021 by CRN, a leading company of 2021 by Silicon Review, and as a key player reducing cloud costs by Business Insider.
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IDC predicts that by the end of 2021, 80% of enterprises will put a mechanism in place to shift to cloud-centric infrastructure and applications twice as fast as before the pandemic. Says Deepak Mohan, Research Director for Cloud Infrastructure Services at IDC: “The disruption and uncertainty of the past year have underscored the benefits of resilient and flexible IT and accelerated investments toward an agile digital foundation. Cloud has emerged as the fastest path and natural choice to enable this foundation. Organizations will aggressively seek and invest in initiatives to increase their cloud leverage, and the effectiveness of their cloud strategy will be a critical factor influencing their competitiveness and growth post recovery.”
The Virtana Platform simplifies the complexity of hybrid IT environments with a single cloud-agnostic observability platform across all hybrid IT digital operations categories, including Infrastructure Performance Monitoring (IPM), AIOps, Cloud Financial Management (FinOps), and Cloud Migration segments, with flexible consumption both on-premises and in the public cloud. The $30.9B ITOM Software market is ripe for disruption, and Virtana is uniquely positioned for success. Virtana is helping Global 2000 enterprises know before they go to the cloud. Its channel-led strategy and strategic partners such as Presidio continue to open doors, including a recently inked Virtana Migrate cloud readiness project with a leading healthcare organization.
Shaikh also reflected, “COVID-19 has accelerated the future of advanced digital technologies. Vaccines will bring an end to lockdowns, consumer savings have risen, debt has lowered, and more stimulus is on the way. If you connect these dots, I am optimistic that America is best positioned for much stronger economic growth in the second half of 2021 than we have experienced in decades. Virtana is well positioned to help companies accelerate their digital transformation and seize the growth opportunities.”
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