Record revenue and bookings growth reaffirm power of consumption model for massive IoT data volumes
As IoT data volumes surge and demand for data activations accelerate, WANdisco recently announced 967% growth in 2022 bookings to $127 million – up from $11.9 million in 2021 – to cap a year where the company debuted its Edge to Cloud solution, released its next generation Data Activation Platform, and moved to a permanent 4-day workweek for all employees.
In February 2022 WANdisco announced a permanent move to the 4-day workweek to retain and attract top talent, enhance employee well-being, and increase productivity. This early move – both in the calendar year and in the larger workplace environment – was built on a culture of trust and empowerment and helped drive industry-leading employee retention rates by year end.
In May 2022, WANdisco launched Edge to Cloud to make it possible for exabytes of IoT sensor data trapped in edge computing environments to be efficiently transferred to a leader's cloud of choice. Since its release, Edge to Cloud has met growing demand across industries, driving a tenfold increase in deal bookings. For data leaders who need to move large volumes of critical data to the cloud of their choice, Edge to Cloud makes it as easy as clicking a button.
In December 2022 the company released the next generation of its Data Activation Platform which adds important functionality that makes it easier and faster than ever to move large-scale datasets to any cloud across all WANdisco data movement solutions.
Alongside record bookings, WANdisco posted YoY revenue growth of 229% and expects ending RPO (Remaining Performance Obligations) of approximately $110 million, up significantly from $9.4 million at the same point in 2021. 2022 revenue grew from $7.3 million in 2021 to unaudited revenues expected to be no less than $24 million in 2022.
This record business performance was driven by significant progress in the Internet-of-Things ('IoT') industry vertical with a majority of contract wins under the company's commit-to-consume revenue model. A number of the one-time migration contracts won during 2022 have the potential to expand into commit-to-consume contracts during 2023.
"2022 was a record-breaking year for WANdisco. Driven by our investments in product, people, and IoT, we've captured a massive opportunity to be the go-to partner for any enterprise looking to reap the benefits of their IoT investments," said David Richards, co-founder and CEO of WANdisco. "Most importantly, we built a company-wide foundation for growth across our product and patent portfolio, deep bench of talent, and our agile commercial go-to-market capabilities. IoT is transforming the world around us and the possibilities are endless but the underlying challenge for data leaders is singular: activating sensor data."
From software-defined vehicles and mobility solutions to smart energy systems, IoT is supporting new products, services, and capabilities across industries. IoT devices continuously capture data that has the power to completely redefine business. Vehicle sensors can arm manufacturers with intelligence that makes vehicles safer, but they can also inform more accurate insurance rates and help reshape cities. Utility companies can turn meters from devices that capture consumption to intelligent systems that precisely partition energy resources across regions, inform regulations, and build a greener world.
Powered by the WANdisco Data Activation Platform, Edge to Cloud enables enterprise-scale data transfer with unmatched speed and security. Global leaders in manufacturing, telecommunications, and automotive are tapping Edge to Cloud to move exabytes of IoT data to multiple clouds and create revenue opportunities that are fundamentally reshaping their businesses.
Primed for another milestone year, on January 24 2023 WANdisco announced a new $9 million contract win with a global European-based industrial and consumer goods company to move manufacturing process data to multiple cloud service providers.
As all types of data continue to amass outside of the cloud, WANdisco continues to invest in expanding its capabilities to ensure that every data point, no matter where it's located, can be utilized to create value for enterprises.
To learn more about the Data Activation Platform 2.0 or Edge to Cloud, see a demo, and explore use cases, visit WANdisco.com.