November 12th, 2020
Archive360 Announces Strong Market Momentum with 290% Spike in Annual Recurring Revenue; Company is Named a Visionary in New Gartner Magic Quadrant
Innovator in Enterprise Information Archiving gets increased recognition from client base and market analysts for unique PaaS solution
Archive360®, the archiving and information management platform trusted by enterprises and government agencies worldwide, today announced significant expansion in the first three quarters of 2020, including a 290% increase in Annual Recurring Revenue (ARR), an 88% rise in its customer base and more than twice the bookings over the same period last year. The company’s successful commitment to innovation has also been recognized by Gartner Inc.: Archive360 is now positioned as a Visionary in the 2020 Magic Quadrant for Enterprise Information Archiving, the only solutions provider in this report to show significant momentum and add substantial product capabilities since the last report. The company is now poised to build on its momentum in 2021 with an expanded technology portfolio and enhanced market outreach.
“This has been a year defined by unprecedented challenges, and it’s more important than ever for organizations to be able to quickly and securely migrate data to the cloud and effectively control and manage it in ways that satisfy their specific regulatory, legal and business intelligence needs. That’s why we’re gratified to see our solution being embraced in a field that is increasingly commoditized,” said Robert DeSteno, co-founder and CEO of Archive360. “Our mission is to help organizations around the world - including the most security-conscious government agencies and corporations in heavily regulated industries - protect and control their data in their cloud, while meeting specific security and AI needs. Customers are demanding more efficient and flexible information management technology, and for our part, we pledge to continue innovating on all fronts.”
Over the course of this year, Archive360 has recorded a series of customer wins that span multiple vertical industries and multinational conglomerates, including the following:
- Eight law firms, including one of the world’s top three
- Ten financial services companies
- One of the world’s largest medical device manufacturers
- Nine organizations in the life sciences sector (including healthcare and global pharmaceuticals)
- Twenty-five federal and state government agencies on three continents
- Six companies in the Fortune or Global 500.
Gartner placed Archive360 in its quadrant for Visionaries, which it describes as vendors “differentiated by product innovation.” The citation recognizes Archive360 for its “significant growth in revenue through 2019, PaaS architecture and broad data source diversification across heavily regulated industries [that] provides a high level of infrastructure and operations (I&O) leader confidence to support compliance requirements.”
To this day, Archive360 remains the only true Platform-as-a-Service solution for Enterprise Information Archiving. It’s also the only company in this category to be trusted by Microsoft Corp. to help customers through digital transformation and adoption of Microsoft Azure. Archive360 technology enables organizations to apply context around the search, classification, security, retention, disposition and analysis of structured and unstructured data - including files, videos, audio, CRM, ERP, emails/electronic communication and social media - while maintaining full control over security, privacy, access, and compliance.
Most current options for Enterprise Information Archiving lack at least some of these capabilities because they originated as on-premises technologies and were subsequently ported to the cloud as Software-as-a-Service (SaaS) or Infrastructure-as-a-Service (IaaS) offerings. This makes for a commoditized approach and involves potential pitfalls, including:
- Security: SaaS offerings mandate a "one size fits all’ model, which eliminates the option to implement company or organization-specific security protocols
- Compliance: The inability to simultaneously address the ever-growing number and scope of regulatory mandates that further complicate where and how data must be retained
- Data privacy: Rules around access to and selling/sharing of personal information that add major complexity to cloud storage, while corporate and consumer expectations continue to evolve rapidly
- AI/ML: Most SaaS offerings don’t allow enterprises to take resource and competitive advantage of advanced cloud-based Artificial Intelligence and Machine Learning technologies
- Economics/TCO: Much greater difficulty controlling or managing costs within the cloud infrastructure than a cloud-native PaaS solution.
For these and other reasons, many enterprises remain wary of migrating all critical resources to public clouds. Some projects stall mid-migration because areas of potential vulnerability are uncovered, or the company gets hit with a major breach. The Archive360 PaaS approach, meanwhile, is cloud-neutral and implemented in the customer’s own cloud tenant. It eliminates vendor lock-in by storing data in its native format and enabling customer-controlled on-premises and cloud encryption. This gives every organization the means to address specific needs and protocols around security, compliance and more.