Company attributes
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ABOUT THE COMPANY
Cohesity provides a platform for storing and managing large data sets. This simplifies the work with information, increases its level of protection and allows companies to quickly find the right files.
Cohesity's clients include four of Fortune's top 10 companies, three of the ten largest US banks and three of the five largest US insurance companies.
Cohesity has been the market leader in Enterprise Backup and Recovery Software Solutions for two years in a row, according to research agency Gartner, and for the third year in a row is on the Forbes Cloud 100 list, which includes the most prestigious cloud companies.
PROSPECTS OF THE COMPANY
The global corporate data management market is expected to reach $ 208.87 billion by 2028. The outbreak of the COVID-19 pandemic has increased demand for data management software due to the global transition to remote operation.
At the end of July 2021, Cohesity increased its customer base by 40% compared to July 2020, thanks to rapid developments in the Americas, the EMEA region and the Asia-Pacific region. The company serves about 2,600 corporate clients. Almost 25% of Fortune 500 companies work with Cohesity, 35% more than a year earlier.
RISKS
Cohesity is facing fierce competition in the market for data management systems from a number of companies, the closest competitor of which is Rubrik. This can negatively affect the long-term viability of the company and its valuation.
FINANCE AND EVALUATION
In 2021, Cohesity's revenue exceeded $ 300 million. At the end of July 2021, the company's annual regular income (ARR) increased by more than 70% compared to July 2020.
The net growth rate exceeds 130%, which means that the company's annual regular income from current customers has grown by more than 30% over the year. This is an extremely high figure. Only leading SaaS companies achieve a net growth rate of more than 120%.
Cohesity raised a total of $ 660 million and held five investment rounds. The last round of the E series was in April 2020, the company raised $ 250 million at an estimated $ 2.5 billion, which corresponds to a share price of $ 13.86. Among the 25 Cohesity investors are Sequoia Capital, Baillie Gifford, SoftBank Vision Fund, Hewlett Packard Enterprise, Cisco, Accel, GV.
