About Cohesity
Cohesity Data Platform empowers companies to manage and store major data arrays, thus facilitating the data processing, increasing their security level and allowing companies to quickly find necessary files.
The company's customers include four of the Fortune top 10 as well as five of the top ten US banks and two of the top five global pharmaceutical companies.
Cohesity was named a Leader in the 2022 Gartner Magic Quadrant for Enterprise Backup and Recovery Software Solutions report for the third consecutive year and was recognized as one of prestigious 2022 Forbes Cloud 100 companies for fourth straight years.
Business Growth Phase
Market Opportunities
The global enterprise data management market size is expected to reach $265.68B by 2030, registering a CAGR of 14%. The outbreak of COVID-19 pandemic has triggered an estimated increase in the data management software demand due to the massive shift to working from home.
Compared to July 31, 2020, the number of customers doing business with Cohesity is up 40% as of July 31, 2021, with rapid adoption in the Americas, EMEA and Asia Pacific. Cohesity customer count is now approximately 2,600. Nearly 25% of the Fortune 500 does business with Cohesity.
Financials and Valuation
In 2021 Cohesity’s annual revenue run rate surpassed $300M. The company also achieved more than a 70% increase YoY in annual recurring revenue (ARR). Cohesity’s net expansion rate continues to exceed 130%, a benchmark for leading subscription/SaaS companies. This means that ARR from Cohesity’s existing customers grew by more than 30% over the year.
The company has raised a total of $660M in funding over 5 rounds. Its Series E round in April 2020 valued the company at $2.5B. Cohesity is funded by 25 investors, including Sequoia Capital, Baillie Gifford, SoftBank Vision Fund, Hewlett Packard Enterprise, Cisco, Accel, GV.
Risks
Cohesity faces strong competition in the data management industry from a number of firms, including its closest rival Rubrik. This may negatively affect its long-term viability and valuation.
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