Revenues up 40% at WANdisco in "pivotal year" for Big Data

Revenues up 40% at WANdisco in "pivotal year" for Big Data
Growth accelerates at Sheffield firm as marketplace gather momentum

WANDISCO, the Sheffield and Silicon Valley big data specialists, believes it has reached the tipping point as the Big Data revolution continues to gather pace.

Revenues increased by 40% to £7.6m in 2014, while deferred revenue increased more quickly and now stands at £13.0m.

“2014 was a pivotal year in the evolution of the Big Data marketplace”, said David Richards, WANdisco chief executive.

The firm has been preparing for rapid growth, as it increased its staff by more than one-quarter, to 180. It also put in place a £6.7m credit facility and, after the end of the financial year, raised £17.6m from a share placing.

He added: “As 2014 progressed we achieved a marked increase in momentum in our Big Data business, as successful production trials led into some significant contract wins. Alongside our new customer wins, our first contract expansion by an existing customer was particularly encouraging.

“We began 2015 by winning one of the world’s top ten banks as a Big Data customer and are addressing a number of exciting new sales opportunities, made more tangible by powerful references from 2014’s new customers. We look forward to reporting more customer successes as the year progresses.”

Significant investment resulted in large losses, of £12.1m measured by adjusted EBITDA, however the company is upbeat about its potential to secure long-term, sizeable revenues in its high growth markets. It also said it has “begun to realise cost efficiencies” across the business.

Mr Richards said: “For large enterprises, our technology has quickly become part of the standard Big Data architecture. We are seeing customers increasingly seeking a connected set of vendors to co-ordinate their Big Data infrastructure.

“WANdisco is enabling customers across industries to realise insights, reliability and savings that they otherwise could not achieve. We believe that many of our new Big Data customers will go on to expand significantly their WANdisco solutions as they take more and more data into their mission-critical applications.”

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