ExaGrid Posts Record Sales update from January 2008

ExaGrid Systems posts record sales results in 4Q07; company continues trend of strong domestic sales growth and worldwide expansion

January 17, 2008

2 Min Read
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WESTBOROUGH, Mass. -- ExaGrid Systems, Inc. (http://www.exagrid.com), the leader in cost-effective and scalable disk-based backup solutions with data de-duplication, today announced record sales for the fourth quarter ending December 31, 2007. Fourth quarter sales for the company increased 30% compared to the previous quarter. ExaGrid is targeting a 30% or higher quarter-over-quarter sales growth rate going forward.

Along with strong sales results, the company continued to execute in a variety of important areas during the quarter. Key achievements in Q4 07 included the following:

  • $20 Million Funding Round Led by Lehman Brothers: During the quarter, ExaGrid received an additional $20 million of funding led by new investor Lehman Brothers Venture Partners, the venture capital group of Lehman Brothers, the global investment bank. The round, which also included current investors Highland Capital Partners and Sigma Partners, supports ExaGrid’s expansion of sales and marketing activities in North America, Europe and Asia, and is expected to fund ExaGrid to cash positive status.

  • Worldwide Sales Office Expansion: ExaGrid continues to expand its sales and marketing reach with offices throughout North America, including: California, Florida, Georgia, Massachusetts, Michigan and Texas; as well as international offices in the United Kingdom, Germany and Singapore. ExaGrid also plans additional offices in New York, Illinois and Washington DC.

  • Worldwide Channel Expansion: More than 20 new channel partners joined ExaGrid’s worldwide VAR Partner Program during the quarter, including new partners in Australia, Germany, Hong Kong, Malaysia, the Netherlands, New Zealand and Singapore. Joint sales and marketing efforts also took place with dozens of partners throughout North America, Europe and Asia.

  • Commercial Customer Acquisition: ExaGrid continues to win against its competitors, gaining many new customers in key industries such as: Healthcare, Legal, Engineering Services, Manufacturing, Education and Federal Government. View more than 26 of ExaGrid’s real-world customer case studies via: http://www.exagrid.com/why_exagrid/customer_success_stories.asp.

  • Federal Government Customer Acquisition: ExaGrid has added many federal government customers during the quarter, including departments within the US Navy and the US House of Representatives.

  • Continued Industry Partnerships: In Q4, ExaGrid continued joint sales and marketing campaigns with several backup software leaders, including CommVault and Symantec. Joint ExaGrid and CommVault/Symantec on-demand Webcasts are available now via:http://www.exagrid.com/news_and_events/disk-based_backup_webcasts_and_podcasts.asp.

“With the highest performance and most scalable product at the best price, ExaGrid continues to be a fast-growing leader in the disk-based backup market,” said Bill Andrews, president and CEO of ExaGrid Systems. “Our worldwide sales to a diverse set of mid-sized enterprise companies increased substantially in Q4 ‘07. ExaGrid is taking advantage of the growing market for tape backup replacement with disk-based backup solutions that use data de-duplication technology. ExaGrid believes it has the second highest number of installations of disk-based backup systems with data de-duplication using customers’ existing backup servers such as CA ARCserve®, Symantec Backup Exec™, CommVault® Galaxy™, Symantec Veritas NetBackup™ and EMC Networker®.”

ExaGrid Systems Inc.

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