Virtana Delivers 26 Percent YoY Profitable Sales Growth in Fiscal 2021
SAN JOSE, Calif., Feb. 7, 2022 -- Virtana, a leading provider of AI-driven solutions for hybrid cloud management and monitoring, announces 26% year-over-year sales growth in its fiscal year of 2021, as compared with the previous fiscal year. The company also saw a record-breaking fiscal Q4.
"If you take a step back and look at the current big picture macro environment of a Great Resignation, supply-chain disruption, and inflation, digital technologies are a growth-stimulating deflationary impetus," said Kash Shaikh, President and CEO of Virtana.
Kash continued, "Virtana is firing on all cylinders, and we will enter 2022 with huge momentum. We turned the company profitable within a year. Our record-breaking results show that the company's new profitable growth business model and transformation is set to flourish in any economic environment."
Kash added, "An IDC survey of CEOs cited that most CEOs intend to sustain or increase IT spending, primarily through digital transformation, for years to come. Our results demonstrate Virtana is set to benefit from the rapid investments needed for businesses to keep up with the multi-cloud management and digital transformation initiatives."
Innovation, Product-Led Growth (PLG) Strategy, and Free Tier Offering
Virtana's multi-cloud management SaaS platform accelerates delivery of unified workload migration, cost optimization, and observability solutions for hybrid cloud infrastructure—allowing companies to reduce costs, avoid cloud waste, and realize the full benefits of cloud-based digital transformation strategies.
Virtana Optimize, a module of Virtana Platform, radically simplifies management of hybrid cloud IT infrastructure by optimizing cost, capacity, and performance in real time on an ongoing basis. As part of Virtana's PLG strategy, companies are invited to try Virtana Optimize for free at virtana.com/optimize-free-tier.
A global revenue management company recently chose Virtana Optimize to manage its multi-cloud deployment. The company sought support for its overall digital transformation efforts, with a focus on understanding cost of goods sold, identifying active users, reducing costs, increasing efficiencies, and optimizing performance of applications. In the first 30 days of use, the company saw an initial 35% in projected cloud cost savings through Virtana Optimize.
Market Recognition and Awards
Virtana earned 20 innovation and leadership awards in the last fiscal year, including recently being named a Cloud 100 Coolest Company by CRN, and Best Company for Women and Best Company Culture by Comparably. The National Diversity Council named Virtana's CEO an Authentic Leader of 2021; in recognition of courageous conversations and the creation of a safe, transparent, inclusive workplace.
There is excitement within the company as well. On Glassdoor, Virtana's CEO has a 100% approval rating based on anonymous employee feedback. Culture site Comparably has collected reviews from more than 70% of Virtana employees, giving Virtana's CEO an A+ rating with a CEO score of 98/100, placing him in the top five percent of CEOs among similarly sized companies in the U.S.
Financing to Accelerate Growth
Virtana's recent $73M financing will fuel the company's next phase of growth in fiscal 2022. With additional capital and resources, Virtana will be able to accelerate its innovation and better meet the needs of customers through increased investment in product development, sales, and marketing.
Fiscal 2021 Profitable Growth
- 26% year-over-year (YoY) FY2021 profitable sales growth
- Highest ever fiscal Q4
About Virtana
Virtana delivers a unified observability and optimization platform for managing application workloads across public, private, hybrid, and multi-cloud environments. Using artificial intelligence for IT operations (AIOps) technologies, including machine learning and advanced data analytics, the cloud-agnostic Virtana Platform solves the most difficult challenges facing enterprises as they seek to leverage public clouds. The SaaS platform enables a "know before you go" approach by providing intelligent observability into which workloads to migrate. It also ensures that unexpected costs and performance degradation are avoided once workloads are operating in the cloud. With the Virtana Platform, enterprises can confidently speed cloud adoption and reduce cloud operating costs by simplifying management of their IT environments.
Source: Virtana
