Dremio Touts 10X Recurring Revenue Upsurge

February 26, 2019

Dremio achieved strong revenue growth and a big global expansion to close out 2018. The company grew its annual recurring revenue by 10X since 2017, with growth in enterprise customer acquisition up 500 percent. Dremio expanded its global footprint with the addition of engineering, support, and sales teams in Canada, India, and Austin, and launched a new Professional Services Group as well as an on-demand virtual education platform, Dremio University.

“Dremio experienced explosive growth across all business metrics in 2018,” said Tomer Shiran, co-founder and CEO, Dremio. “The adoption of Data-as-a-Service from the industry and customers played a significant role in our record growth in revenue and increased customer base. Our platform provides a fundamentally different approach that allows data to be managed in whichever persistence technology is most appropriate for a given use case while providing the functionality, performance, and security controls required for integrating with the traditional tools deployed on millions of desktops.”

2018 Business Highlights:

  • Announced an investment from Cisco Investments
  • Closed Series B round, led by new investor Norwest Venture Partners with participation from existing investors Lightspeed Venture Partners and Redpoint Ventures.
  • Added new customers globally and expanded footprint with existing customers, including Diageo, Microsoft, PayPal, Standard Chartered, TransUnion, UBS, and VirginOrbit.
  • Launched a new Apache-licensed open source technology, The Gandiva Initiative for Apache Arrow; Arrow is now the de-facto standard for in-memory analytics, with more than 1m+ downloads per month.
  • Launched new Professional Services Group, led by Robert Maybin, Principal Consulting Architect at Dremio.
  • Expanded office locations to Vancouver, Canada and Hyderabad, India.

Product Innovation:

  • Launched Dremio 3.0 -- bridging the gap between data engineers and data consumers with advanced security and multi-tenant workload controls; integrated data catalog for self-directed data analysis; integration with Kubernetes and Helm charts; support for popular cloud platforms like AWS and Azure.
  • Introduced the Dremio Learning Engine, and added support for Looker, to help business analysts and data scientists to discover, curate, share, and analyze data from data lakes, NoSQL, and relational sources using their favorite tools at unprecedented speed.

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