Panzura Reports FY'19 Subscription Revenue Growth of 237% and
Panzura Reports FY'19 Subscription Revenue Growth of 237% and Customers' Global Cloud File Growth of 164%
Panzura Experiencing Growth Driven by Accelerating Demand for Real Time Cloud File Collaboration, Consolidation, and Business ContinuityCAMPBELL, Calif., March 17, 2020 — (PRNewswire) — Panzura, the leader in collaborative file and data management for global enterprises, today announced customer subscription revenue growth of 237%, and more than double its global cloud data capacity during 2019. This significant year-on-year growth demonstrates accelerating demand for real-time cloud file collaboration among distributed teams and a fast path to file data consolidation and business continuity in multi- and hybrid-cloud environments.
In EMEA, existing and new Panzura enterprise customers bucked the trend of sequestered IT spending and increased their aggregate data capacity by 250%, demonstrating uncertainty over Brexit was not a stalling point.
Patrick Harr, CEO at Panzura, said: "Last year, we experienced significant subscription revenue growth of 237% and 164% growth in customers' global cloud files, which is a powerful validation of the market and our industry-leading global cloud file system and AI data management solutions. As the majority of global enterprises migrate to hybrid- and cloud-native technology, operational speed, agility and their ability to empower a global workforce to collaborate and compete have become key drivers in their...