Turbonomic Achieves 53 Percent Revenue Growth in First Quarter of Fiscal Year 2019
BOSTON--(BUSINESS WIRE)--Jun 12, 2018--Turbonomic, the leading provider of workload automation for hybrid cloud, which was recently named a Best Workplace in 2018, today announced accelerating momentum across all key aspects of its business. Turbonomic achieved 106 percent booking growth year-on-year in the first quarter of its Fiscal Year 2019 (ending April 30, 2018), building upon the company surpassing $100 million in annual bookings the previous year. The results underscore increasing demand for workload automation as customers turn to AI-powered software to tame IT complexity that cannot be optimized manually. Turbonomic’s strong growth stems from its innovation and partnering strategy, including deepening relationships with leading IT and cloud platform providers like Cisco, DXC, Amazon Web Services (AWS) and Microsoft Azure, among others.
“Half of all workloads will run in the public cloud by 2020, up from 20 percent today. Workload automation plays the central role in this digital transformation. As customers adopt hybrid cloud and cloud native initiatives, they’re using Turbonomic to create self-managing workloads that assure their own performance, policy compliance and cost effectiveness – on-premises and in the cloud,” said Benjamin Nye, CEO of Turbonomic. “I’m incredibly proud of our talented 500 employees for achieving these results and delivering customers with the industry’s most powerful solution to assess, plan and optimize the right workloads for the right environment – with no platform bias.”
To advance digital transformation initiatives and hybrid cloud adoption, 2,000 enterprise customers across 48 countries and 300 channel partners use Turbonomic to make their workloads SMART (self-managing, anywhere, in real-time). A JPMorgan Chase Hall of Innovation inductee, Turbonomic is trusted by more than 100 of the Fortune 500 and eight of the top 10 global banks. Turbonomic customers include: BMC, CenturyLink, Cisco, Conoco Philips, DXC, MetroStar Systems, Morgan Stanley, NASA, NBC Universal, SkyBet, TD Ameritrade, and World Bank, among others.
“McMillan LLP saw immediate and dramatic improvements in application performance and infrastructure utilization after deploying Turbonomic,” said Chris Childerhose, Solutions Architect at McMillan LLP. “Turbonomic is playing a key role in helping us safely accelerate our IT modernization initiatives. The intelligent software automation assures our application performance while eliminating inefficiencies by getting workloads the exact resources they need, exactly when needed – something that is simply not possible for us to achieve manually.”
Since 2009, Turbonomic has pioneered the application of economic principles to assure application performance by eliminating human guesswork that leads to over-provisioning and IT’s “break-fix” reactive, manual efforts. Turbonomic’s platform continuously provides workloads with the exact resources they need, in the right order, and at exactly the right time. Primary use cases include accelerating cloud migration, optimizing public cloud spend, accelerating consolidation and data center modernization projects, safely increasing infrastructure utilization and enabling self-managing Kubernetes, OpenShift, and improving IT staff productivity.
Full Fiscal Year 2018 and First Quarter Fiscal Year 2019 Highlights:
Industry-Leading InnovationCustomers choose Turbonomic to assure performance and lower cost while maintaining compliance across hybrid cloud estates – with a single code base. With the spring 2018 release, Turbonomic further extended its lead in optimizing Azure and AWS environments with the introduction of continuous usage automation of Reserved Instances, integration with Cisco AppDynamics, continuous optimization of container platforms and a next-generation AI-powered Decision Engine. The prior release delivered storage and database services optimization for Azure and AWS public cloud, further extending the platform’s capabilities in the public cloud beyond compute. It also included further cost and performance benefits with the ability to leverage pre-paid capacity and suspension of unused compute and storage instances – automatically, in real-time, without human intervention. The company continued its strong investment in R&D, expanding its cloud development team by 41 percent and growing its innovation portfolio to 18 patents (both filed and pending).
Channel and Alliance Partner ExpansionIn addition to deepening engineering efforts with Cisco (integration with AppDynamics, HyperFlex and Tetration ), Turbonomic continued strengthening its OEM partnership, achieving triple-digit growth quarter-on-quarter; adding the largest new customer in the first quarter; and building additional co-sell opportunities with the world’s top Fortune 10 companies. Turbonomic earned Microsoft Co-Sell Ready Status as well as Microsoft Cloud Platform Competency, becoming Turbonomic’s fastest ramp of a go-to-market partnership in terms of pipeline. In a recent article, Microsoft Corporate VP of Azure Compute, Corey Sanders, said the following while discussing Microsoft ISV partners, “It [Turbonomic] plays in very nicely to our overall approach which is making sure we’re helping customers where they need the help. We have the services where they [customers] want the services, but we also partner with solutions where they may have other needs and they have other desires.” Additionally, in the first quarter Turbonomic launched a new Partner Program and doubled the team’s size in just the first quarter to drive well over 75 percent of revenue through the channel in fiscal year 2019. Last fiscal year, Turbonomic announced the largest contract in the company’s history, signing a multi-year agreement with DXC as the company’s automation standard. During DXC’s Q4 2018 Earnings call, DXC CEO Mike Lawrie said, “Through our relationship with Turbonomic, we were able to optimize workflows and cloud environments to increase utilization of virtual machines and reduce the infrastructure cost.”
Market- and Industry-Recognized LeadershipForrester Research named Turbonomic a leader in Cloud Cost Monitoring and Optimization in The Forrester Wave™: Cloud Cost Monitoring and Optimization, Q2 2018. Turbonomic joined the industry’s leading cloud native computing community, Cloud Native Computing Foundation (CNCF). Inc. magazine named Turbonomic a Best Workplace in 2018. Forbes named Turbonomic a Top 100 Cloud Company. CRN named the company a Tech Innovator, Cool Vendor in Cloud Computing, and recognized it as a 5-Star Partner Program. Last year, Turbonomic grew its team by 200 people and currently has over 500 global employees. The company also recently expanded its presence in Europe by opening a new sales office in Paris, France.
Additional ResourcesConnect with Turbonomic via LinkedIn, Twitter, Facebook, YouTube, and the Turbonomic Green Circle Community For news, updates and executive perspectives, visit the Turbonomic Blog
About Turbonomic Turbonomic delivers workload automation for hybrid cloud, thereby continuously assuring performance while lowering cost and maintaining compliance with business policies. The Turbonomic platform matches workload demand to infrastructure supply, helping customers maintain a continuous state of application health. Founded in 2009, Boston-based Turbonomic is one of the fastest-growing technology companies, trusted by thousands of enterprise organizations to activate their hybrid cloud journey. To learn more about Turbonomic, visit turbonomic.com.
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Katryn McGaughey, 781-267-5147
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