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February 16, 2012

Nimble Storage Sets Records with 500 Percent Jump in Quarterly Growth

Nimble (News - Alert) Storage had 500 percent growth during the 4Q compared to the same time period in 2010. The company also added more than 100 new customers in the latest quarter. As evidence of its growth, the company also recently expanded into Canada and Europe. It opened offices in Vancouver, Toronto, London, Amsterdam and Hamburg.

Last July, the company raised $25 million in a Series D round of funding, led by Artis Capital Management. Also taking part were current investors: Accel Partners (News - Alert), Lightspeed Venture Partners and Sequoia Capital. To date, the company has received $58 million from investors.

"We ended last year with orders that were almost twice what we thought was feasible at the beginning of the year. Nimble Storage has been able to capitalize on our disruptive technology with strong execution across the board to achieve a level of maturity unmatched by most young companies," Suresh Vasudevan, CEO of Nimble Storage, said in a company statement. "We believe that we can continue to set a scorching pace in terms of top-line growth, customer acquisition and geographic expansion as well as in broadening our channel partner base this year."

"If Nimble Storage continues to execute as it has, it will have the opportunity to alter the storage landscape as we know it. Eliminating guesswork and automating the optimization of the two primary metrics – performance and cost – will have the IT community singing the praises of the company," Steve Duplessie, founder and senior analyst of Enterprise Strategy Group (News - Alert), said in a company statement carried on TMCnet. "Nimble Storage designed its CS-Series arrays to be simple to buy, simple to install and simple to use. The system takes the guesswork out of having to optimize and re-optimize for changing workloads – allowing storage and virtualization administrators to concentrate on higher-value business objectives,"

In addition, Nimble Storage won several awards and recognitions during 2011. For example, Gartner (News - Alert) named Nimble Storage as one of six “Cool Vendors” in the storage technology sector during 2011. It was singled out for its innovation. It was also listed by: The Wall Street Journal's The Next Big Thing; FASTech 50; and the Execullence Award for Coolest New Technology (News - Alert) at the ExecEvent for Virtualization and Cloud.

Nimble Storage features Cache Accelerated Sequential Layout architecture. It combines flash with high capacity drives, is economical, and improves disaster recovery and backup offerings, the company said. Nimble Storage solutions can be ordered through channel partners worldwide.

Its current customers include Grocery Outlet, Premier Medical, Howard Rice and Plaxo. It provides service to a range of sectors such as retail, services, financial, government, legal and healthcare, the company adds.

Ed Silverstein is a TMCnet contributor. To read more of his articles, please visit his columnist page.

Edited by Rich Steeves

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