Komprise Funding News and 2023 Outlook

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The year 2023 is well underway and this is a time of excitement and gratitude here at Komprise. Today I’m thrilled to announce another pivotal milestone in our journey to transform enterprise data management: a new funding raise of $37 million of growth capital from Canaan Partners, Celesta Capital, Multiplier Capital and Top Tier Ventures. We will use this investment to scale operations and extend market leadership in unstructured data management and mobility. Our mission is helping enterprises across many sectors save and make money on their massive stores of unstructured data.

One of our investors, Kevin Sheehan, Founder and Managing General Partner, Multiplier Capital, shares his thoughts on the raise in today’s press release:

“We invested in Komprise because of their impressive growth and path to profitability combined with the massive opportunity in edge data management and unstructured data for AI/ML in the cloud. We believe in the company’s market, vision, team and execution.”

Unstructured Data Management Goes Mainstream

In the 2022 Komprise State of Unstructured Data Management Survey, more than 50% of enterprise IT directors said they are managing at least 5 PB of data today. A majority (87%) rate managing unstructured data growth as a top priority. We have grown rapidly in recent years as the need to manage data more effectively is now paramount to meet operational and marketplace goals.

Here are a few highlights of our industry momentum:

  • Komprise grew 306% from 2018 to 2021, with new customer logos in 2022 accounting for 30% of the total and 2022 Net Dollar Retention of 120%.
  • We were named one of the fastest-growing companies in the Bay Area and North America on the 2022 Deloitte Technology Fast 500™.
  • The company achieved its first-ever 2022 Inc. 5000 ranking.

Meeting customers’ Unstructured Data Management needs in 2022

Last year, we enriched the larger story of independent data management and all it offers. The goal is not just efficiently managing data for cost savings but to do so much more—from compliance to data lifecycle management to leveraging unstructured data analytics. To that end, we announced a new Deep Analytics user role so that departmental IT and power users can view insights on their data and work with central IT to make data management decisions.

We released Smart Data Workflows so users can create business processes to find and tag data and automatically move it to third-party analysis engines or to target storage for archives, security or audit needs.

Finally, Komprise Hypertransfer for Elastic Data Migration, announced in December, makes Komprise the fastest file migration software available today. Supporting industry mandates for data center consolidations and efficient data migrations to new or better storage solutions, now customers can transfer data across a WAN 25x faster than point tools.

Everything we developed and released in 2022 was geared toward forging a tighter connection between storage IT professionals and the business.

Addressing global economic pressures in 2023

Most of the people I talk to—whether they are colleagues, friends or family members—don’t feel terribly optimistic about the first half of 2023 from a macroeconomic perspective. Inflation remains high and supply chain issues persist. Tech layoffs are escalating and the Ukraine War rumbles on without a quick end in sight. In this market, fiscal conservatism is in vogue.

IT and business leaders, while still committed to a hybrid IT infrastructure, are rethinking their cloud investments. Many have been burned with big bills over the past year. Amid all this, sustainability initiatives and mandates are becoming widespread, especially during an energy crisis which has hit Europe hard.

To survive and thrive, companies will manage their assets and operations differently—and data is at the heart of this:

  1. Analytics plus action to cut costs and waste. Komprise comes to play here with our analytics-first approach, which we call Smart Data Management. Our solution delivers visibility across all storage, from on-premises to edge to cloud, so that you can understand your data and optimize costs. It’s one place to understand what data lives where, is used by whom and how often, and consumes how much storage. But we don’t stop there: you can design automated data management policies based on those analytics, executed by Komprise. Actionable analytics is how you move from insight to outcomes that matter.
  2. Prepare data for the AI age. As I discussed in a recent blog post, enterprises need to be ready for the onslaught of workplace shifts coming with AI and ML maturity. IT leaders need to get their unstructured data sorted and prepped, as this file and object data is the critical ingredient for AI/ML platforms. New data management strategies which create automated ways to index, segment, curate, tag and move unstructured data continuously to feed these tools will be imperative.

How we’re different: analytics-first unstructured data management

Komprise is a vendor-agnostic, policy-driven solution that can manage unstructured data at scale and ensure customers are not locked into any storage platform or service. We differ in the marketplace in three distinctive ways:

  • Transparent Move Technology™ (TMT): With TMT, Komprise transparently moves data across storage platforms or services with zero disruption to users and applications while saving on average 70% of storage and backup costs. This means faster time to value and great experiences for users.
  • Global File Index: Komprise automatically creates a global index of all your data across silos, providing one place to search, find and operate on the data. Komprise is designed to work in hybrid environments including edge data centers that collect massive amounts of data from distributed devices, manufacturing, autonomous vehicles and the like.
  • Smart Data Migration: With the Komprise analytics-first approach to unstructured data management, you can see data insights before moving anything anywhere. You’ll know which data can migrate, to which class and tier, and which data should stay on-premises in your hybrid cloud infrastructure. That means your company will always have the right data in the right place at the right time—which is important for both cost management and performance. This white paper provides a closer look at the analytics you can get with Komprise.

Komprise was designed from the ground up to address the massive influx and generation of unstructured data. It’s delivering millions of dollars of savings for our customers and giving storage IT professionals and others the power to manage data in ways not possible before.

The time to transform the way your organization manages data for present and future value is here. We hope to be with you on that journey, no matter where your data lives or what your unique data goals are for this year and beyond.

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