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Home Technology Accelerated Shift to Cloud Infrastructure Spurs Nasuni’s 2020 Revenue Growth  
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Accelerated Shift to Cloud Infrastructure Spurs Nasuni’s 2020 Revenue Growth  

by Wanda Rich
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Cloud file storage leader achieves double-digit growth driven by accelerated cloud adoption to enable remote work demands  

 Nasuni Corporation, the leading provider of enterprise cloud file storage, today announced continued strong growth for its fiscal year ended December 31, 2020. Driven by the boom in cloud adoption and the need for employees to access files working from anywhere, Nasuni recorded a record $24.6 million in annual contract value bookings in the fourth quarter of 2020 and software subscription revenue for 2020 grew 36% year over year. Nasuni is disrupting the legacy on-premises Network Attached Storage (NAS), file server and backup markets with a simple and low-cost cloud service. Data under management increased 70% across AWS, Azure and other cloud object storage, enabling customers to access and share tens of billions of files in more than 10,000 locations. 

Legacy file infrastructure became even more of a liability during the pandemic when workforces were unable to access file shares and IT administrators were no longer able to maintain or enhance on-premises hardware-based environments. To be successful in the future, enterprises must ensure reliable access to data without relying on in-person operations, which is increasing demand for cloud alternatives that provide easy, streamlined data access. As a result of these growing needs, Nasuni achieved an average dollar-based net retention rate greater than 115% and a gross ARR retention rate above 95% for the fourth consecutive year. 

Additional highlights of Nasuni’s achievements in 2020 include: 

·         New funding: Nasuni announced $40 million in new funding, bringing the company’s total funding to $169 million since inception. The equity round featured a mix of new and existing investors, with prior investors Goldman Sachs, Telstra Ventures, Northbridge Venture Partners and others all participating.  

·         New capabilities: Nasuni delivered numerous enhancements around remote work, integrations with leading Cloud Virtual Desktop Infrastructure (VDI) solutions from AWS and Microsoft, simplified cloud migrations, and increased protection of critical file data to help enterprises leave costly on-premises infrastructure behind and more quickly and securely leverage the cloud. 

·         Large customer growth: Customers with annual subscriptions greater than $100,000 grew to almost one-third of Nasuni’s customers. 

·         Awards: The company received the American Business Awards’ gold medal for Best Cloud Storage/Backup Solution, won honors as the Data Storage Solution of the Year in the 2020 Data Breakthrough Awards, and ranked on the 2020 Deloitte Technology Fast 500 list of the fastest-growing technology companies for the second year in a row. 

·         New cloud leader expansions: Nasuni became a Microsoft Windows Virtual Desktop Partner, achieved both AWS Digital Workplace Competency Status and AWS Outposts Ready designation, as well as launched availability in the Microsoft Azure Marketplace. 

·         New patents: The Nasuni product team was awarded a new patent for its method and system for interfacing to cloud storage, bringing the total Nasuni patents issued to 14, with more pending. 

·         New event: Customers, partners and cloud experts gathered for Nasuni CloudBound2020–the first installment of the global, virtual event–to share real-world expert insight with hundreds of attendees for modernizing file storage infrastructure. 

“The past 12 months have been the ultimate test for digital transformations on a global scale through unbelievably compressed timetables, but many enterprises are accelerating workplace productivity and digital collaboration for new competitive gains,” said Paul Flanagan, president and CEO of Nasuni. “The superior service, value and performance of Nasuni have been the saving grace for customers this year, especially as many had to convert their offices to global remote work practically overnight, which was reflected in continuing demand for our solutions.” 

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Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication's content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.