Portworx Reports Triple-digit Growth in Q1'20, Fueled by Increasing Demand for Kubernetes and Data Management

LOS ALTOS, Calif., May 20, 2020 /PRNewswire/ -- Portworx, the leading Kubernetes storage platform, today announced record company momentum for Q1 2020, including 136% growth in revenue year over year and 92% growth in revenue from Q4 2019. Portworx added many new customers and repeat purchases in Q1 including Kroger, Audi, Nvidia and LogDNA, and now counts more than 145 customers, including 54 Global 2000 or Government accounts. Additionally, Portworx was named the #1 Kubernetes storage platform by GigaOm Research's inaugural report on the Kubernetes market. Portworx's increase in revenue demonstrates the growing confidence from customers, as well as the market need for full stack management for container-based applications running on Kubernetes at a time when digital transformation is seen as a critical competitive advantage.

Today's enterprises are under pressure to deliver new products and features quickly and securely in order to meet increasing customer demand. Containers and Kubernetes have emerged as a powerful way to manage enterprise data and resources, with 87% of businesses already running container technologies and nearly half of businesses already running apps on Kubernetes in production. With over half of containers now stateful according to Voice of the Enterprise - DevOps, Security, AI/ML, and Cloud Native – 2020 by 451 Research, part of S&P Global Market Intelligence, enterprises must meet complex requirements like data storage, security, data protection, backup and recovery, disaster recovery, SLA management, and compliance. Portworx is the only cloud-native storage and data management solution in the market that delivers this full-stack Kubernetes storage and data management experience. It is designed from the ground up to handle enterprises' complex requirements and simplifies data management across any hybrid or multi-cloud environment.

"Portworx has found success throughout the years by listening to enterprises in the cloud-native storage space and building solutions to their real-world problems. It's that solution-focused drive that helps us provide customers with all the backup, storage and data protection solutions they need to address their ever-changing business requirements," said Murli Thirumale, CEO and co-founder, Portworx. "Our company's first-quarter momentum is the result of constant conversations with customers and partners. As the industry shifts and our customers' needs evolve, we will embrace challenges and continue to learn with them. We plan to keep our foot on the pedal and look forward to continued growth and success in 2020 and beyond."

"With the COVID-19 crisis increasing demand on the digital systems used by our customers to support their employees' remote work, e-commerce and other high-demand activities, we've had to scale our apps and infrastructure significantly beyond what we could have imagined only a few months ago," said Lee Liu, Chief Architect and Co-founder of LogDNA. "Luckily, with Portworx providing the Kubernetes storage and data management services essential to the performance, availability and security of our data, we have been able to easily meet the demand during these trying times."

Additional Q1 2020 successes:

• Expanding the Portworx Storage Platform for Kubernetes with new solutions, including one-click PX-Backup for Kubernetes-specific data protection and backup which was made generally available.
• Completed 13 sales over $100,000, up from 5 sales over $100,000 in Q1 2019.
• Achieved the milestone of 75% of Portworx customers are in production.
• The average customer bookings expanded in 8 months to 400% of the original booking. These expansions were fueled by additional license purchases and add-on products like PX-Disaster Recovery and PX-Backup.
• Grew net retention rate to 153%.
• Rolled out pay-as-you-go pricing for Portworx Enterprise.
• Introduced Portworx Essentials, a forever free version of the Portworx platform designed for small-scale production applications.
• Partnered with Google Cloud Anthos via Google Cloud Marketplace to help Google Cloud customers overcome the most common challenges associated with Kubernetes rollouts (e.g., performance, high availability, disaster recovery, backup, data security, multi-cloud migrations, and automated storage operations).
• Named to CRN's list of "20 Coolest Data Management Companies."

Learn More

• Portworx Named Leader in GigaOm Radar Report for Data Storage for Kubernetes
• Portworx on Twitter
• Portworx on LinkedIn

About Portworx
Portworx is the container storage company enterprises trust to run mission-critical data services on Kubernetes in production. By enabling data availability, data security, cloud migrations, backup and disaster recovery for applications running on-prem or across clouds, Portworx is the #1 most used Kubernetes storage platform by Global 2000 companies, including Carrefour, Comcast, GE Digital, Lufthansa, T-Mobile, and Ford Motor Company. Based in Los Altos, Calif., Portworx partners with Amazon, Cisco, Google, HPE, IBM, Red Hat, VMware, and other leading enterprise software companies to accelerate container adoption. The company was also named the Leader in the 2020 GigaOm Radar for Data Storage for Kubernetes report. For more information, visit portworx.com or follow @portwx.

SOURCE Portworx

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