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CAMPBELL, Calif., March 17, 2020 /PRNewswire/ -- Panzura, the leader in collaborative file and data management for global enterprises, today announced customer subscription revenue growth of 237%, and more than double its global cloud data capacity during 2019. This significant year-on-year growth demonstrates accelerating demand for real-time cloud file collaboration among distributed teams and a fast path to file data consolidation and business continuity in multi- and hybrid-cloud environments. In EMEA, existing and new Panzura enterprise customers bucked the trend of sequestered IT spending and increased their aggregate data capacity by 250%, demonstrating uncertainty over Brexit was not a stalling point. Patrick Harr, CEO at Panzura, said: "Last year, we experienced significant subscription revenue growth of 237% and 164% growth in customers' global cloud files, which is a powerful validation of the market and our industry-leading global cloud file system and AI data management solutions. As the majority of global enterprises migrate to hybrid- and cloud-native technology, operational speed, agility and their ability to empower a global workforce to collaborate and compete have become key drivers in their success." Analysts at Mordor Intelligence forecast that the global enterprise cloud file and collaboration market, valued at $26.1BN in 2019, will have grown at a CAGR of about 13.5% to be worth about $49BN by 2024. On average, over 80% of North American and European companies are employing a complex deployment model in the cloud, with 51% using a hybrid cloud and 21% implementing a multi-cloud strategy, with an average of five cloud providers. Expansion in EMEA "The interesting story behind the growth of our EMEA business is one of consolidation," said Andy McGlashan, Managing Director, Panzura EMEA. "Organizations have had a very traditional approach to storing file data, normally purchasing a lot of disk storage, and then replicating and backing it up. But the cost of that is untenable as the size of files continues to grow, and we've seen huge interest in consolidating and reducing what would normally be on-site storage." Customers such as British food manufacturer Premier Foods and AFRY, a multi-billion dollar global engineering, design, and advisory company based in Sweden, are realizing an average 70-80% cost saving and 90% reduction in on-site storage requirements. This enables employees to work together at the same time across multiple countries without the risk of losing data or wasting time. "As a multi-billion-dollar global engineering and design firm with over 30,000 employees and partners worldwide, speed and team productivity are critical to delivering world-class designs for our customers," said Henrik Carlberg, Business CIO of AFRY. "With Panzura, we deployed one global cloud file system across all global sites, enabling engineers and designers to collaborate as one global team, dramatically increasing productivity and improving our bottom line." "We decided to simplify our storage because the resources we were putting into managing clusters, SANs and backup just didn't deliver value to the business," said Gareth Byrne-Perkins, Head of Technology and Service at Premier Foods. "Panzura provided an elegant, flexible architecture that completely revitalized the way we work with file services, cutting out many layers of unnecessary complication and achieving our objective of users getting access to the files they need quickly. We now have a centralized IT, and our entire data center operations are cloud-based where possible, underpinning our ability to ensure that business can continue as usual when people cannot, or will not, come into the office. We'll be looking for Panzura to provide our user base with access to their productivity files when people are remote and on-the-go." Relentless Innovation, Industry-Leading ExperiencePanzura's 2019 growth is predicated on the team's relentless commitment to innovation, world-class experience, and collaboration with a fast-growing partner ecosystem. Panzura announced the release of its flagship solution Freedom Cloud Files 8. Backed by the number one global cloud file system and 33 patents, the latest release delivers real-time global cloud file collaboration capabilities, multi-cloud mirroring and business continuity, military grade security, and massive scalability to accommodate enterprises' ever-expanding file data, which is doubling on average every two years. The company also launched Vizion.ai, a sophisticated, AI-powered global visualization, indexing, search, IP protection, and data analytics service for all data in the data center and multi-cloud environments. To accommodate market demand, Panzura continued scaling its channel strategy, signing a strategic reseller agreement with IBM, and announcing a partnership with Intel to bring Vizion.ai to its customers and channel partners. Another key factor in Panzura's continued growth is a commitment to a world-class customer experience, which is reflected in the company's industry-leading net- promoter score of 82, well above the software and data storage industry average, which is only 28. Resources Learn more about Panzura customers, products and solutions here Contact Panzura for a 15-minute demo Sign up for a free trial of Vizion.ai About PanzuraPanzura is the leader in collaborative file and data management for the global enterprise, which includes Panzura Freedom and Vizion.ai. Panzura Freedom provides software-defined, multi-cloud file services to almost 400 enterprises in over 7500 sites globally across 33 countries. The Vizion.ai multi-cloud data management service enables enterprises to meet the most demanding requirements for data search, IP protection, AI analytics, and governance in a multi-cloud world. Visit www.panzura.com for more information. SOURCE Panzura Related Links http://www.panzura.com

Answer: Panzura Reports FY'19 Subscription Revenue Growth of 237% and Customers' Global Cloud File Growth of 164% Panzura Experiencing Growth Driven by Accelerating Demand for Real Time Cloud File Collaboration, Consolidation, and Business Continuity