Aryaka Closes Fiscal Year '24 Strong - with New Bookings Up 34% YoY and Security Solution Sales up 80%
Growth fueled by launch of Unified SASE as a Service, marquee customer wins and key executive appointments
SANTA CLARA, Calif., July 16, 2024 /PRNewswire/ -- Aryaka®, the leader in and first to deliver Unified SASE as a Service, today announced its fiscal year 2024 (July to June) results, a landmark year for the company, punctuated by a 34% increase in new bookings year-over-year and an 80% increase in security product bookings, as well as adding dozens of new enterprise customers. This strong performance reflects the industry's growing need for secure and agile networking solutions, which Aryaka continues to address through its innovative offerings, such as its Unified SASE as a Service and Aryaka AI>Perform GenAI network acceleration solution. Building on this foundation, the addition of CEO Shailesh Shukla and other key executive appointments during the year were instrumental in driving Aryaka's vision and its successful execution.
"Between new offerings, customer wins, and executive appointments with a proven track record of success, 2024 was a groundbreaking year for Aryaka. However, we've only scratched the surface of our capabilities," said Shukla. "We've differentiated ourselves in the market with our Unified SASE as a Service offering, and we're fully invested in continuing to deliver unmatched networking, security and observability services to our customers. The recent launch of Aryaka AI>Perform is an example of our leading innovation that will allow customers to maximize the benefits of AI as they begin to integrate AI and GenAI applications into their global businesses. With additional pillars of our AI>Initiative set to roll out later this year, as well as more improvements and functionality in our core service offerings, we're well-positioned to maintain strong momentum as we kick off fiscal year 2025."
Marquee Customer Wins and Growing Opportunity
As part of the company's fiscal year '24, Aryaka secured marquee customer wins globally, including Cathay Pacific Airways, American Woodmark Corporation and SEG Automotive. New customer wins contributed over $30 million in contract value to Aryaka.
According to investment bank Jeffries, the broad market for SASE is expected to grow at a compound annual growth rate of 20% over the next 3 years and reach over $26 billion. With over 500 existing enterprise customers, more than $100 million in ARR and deployments in over 100 countries, Aryaka Unified SASE as a Service is well positioned for continued customer acquisition and revenue growth in its fiscal year '25 and beyond.
Partner-led Growth
The Aryaka Accelerate Global Partner Program was once again critical to the company's overall success. Partners increased sales of Aryaka solutions by 26% fiscal year over year, accounting for two-thirds of new logo wins, including the largest new customer transaction in company history.
"Aryaka is a channel-first company, and these results demonstrate our unwavering commitment to the channel and the tremendous value that our partners deliver to both Aryaka and our shared customers. The channel results also underscore the critical role partners will continue to play in our growth in fiscal '25 and beyond," Shukla said.
Investing in Innovation: Product, People and Go to Market
"It's our time," Shukla added, echoing the theme of the company's Global Sales Kick-off in Jacksonville Florida. "To take advantage of this opportunity, we will be making significant additional investments in product, people, go-to-market programs, customer success and partnerships throughout our new fiscal year."
Launched in March of this year, Aryaka Unified SASE as a Service became the first service of its kind, delivering performance, agility, simplicity and security without tradeoffs. Combining a unified single-pass architecture and global private network backbone, Aryaka Unified SASE as a Service offers a comprehensive network security solution, including security, observability, and application performance capabilities, all in a single platform delivered as a service. It's the only solution that meets customers where they are, enabling them to modernize, optimize and transform their networking and security environments today and in the future.
Delivered natively on Aryaka Unified SASE as a Service, Aryaka introduced Aryaka AI>™Perform in June. Another first-in-market offering, Aryaka AI>Perform is a GenAI network acceleration capability that helps businesses ensure reliable, high-performance access to Gen AI applications across their global networks. This release is the first offering from the new Aryaka AI>Initiative, which is continuing development and expecting additional releases throughout the coming fiscal year.
To support the new offerings and in response to customer demand, Aryaka further invested in the company's existing infrastructure to ensure secure network performance across an expanded global footprint and to better serve growing markets. This investment was highlighted by the launches of an Aryaka Point of Presence (PoP) in Stockholm, Sweden, in January and Madrid, Spain, in May. Additionally, Aryaka launched PoPs in Denver, Colorado, and Atlanta, Georgia.
Shailesh Shukla, formerly of Google Cloud and Cisco, who was named CEO and Executive Chairman in February, oversaw the launches of Aryaka Unified SASE as a Service and Aryaka AI> Perform. Following his appointment, Aryaka bolstered its leadership team further with three additional executives in April: Pam Holmberg, Chief People Officer; Farzad Tari, Senior Vice President of Corporate and Business Development and Ken Rutsky, Chief Marketing Officer. Also today, Aryaka announced the additions of Justin Lim, previously from Wiz and Netskope, as Vice President of Customer Success; noted security practitioner Aditya Sood from F5, Symantec and Bluecoat as Vice President of Security Engineering and AI Strategy; Louise Crawford as Senior Director of Growth Marketing from Silver Peak and Tata Communications and welcomed back Naveen Maveli as Vice President of Engineering. Maveli returned to the team after a stint at Meta.
Shukla concluded, "In response to the market opportunity we see in front of us, we're excited and optimistic about capturing a growing share of the exploding SASE market with our Unified SASE as a Service offering. We've got the product and the team both built for success."
About Aryaka
Aryaka is the leader and first to deliver Unified SASE as a Service, the only SASE solution designed and built to deliver performance, agility, simplicity and security without tradeoffs. Aryaka meets customers where they are on their unique SASE journeys, enabling them to seamlessly modernize, optimize and transform their networking and security environments. Aryaka's flexible delivery options empower enterprises to choose their preferred approach for implementation and management. Hundreds of global enterprises, including several in the Fortune 100, depend on Aryaka for cloud-based software-defined networking and security services. For more on Aryaka, please visit www.aryaka.com.
Technology Media/Analyst Contact
Lee Regal
Lumina Communications for Aryaka
[email protected]
Channel Media/Analyst Contact
Khali Henderson
Senior Partner
BuzzTheory (for Aryaka)
[email protected]
480.848.6726
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