WANDisco sees bookings grow to $22.5m
Wandisco, the Sheffield and California big data specialist, has reported record bookings, up 45% year-on-year to from $15.5m to $22.5m.
Full year results to 31 December 2017 show that bookings secured in 2017 jumped for a number of reasons, including securing new contracts and successful fundraising.
Big Data bookings for WANdisco’s Fusion were up 121% in 2017 to $15.7m (2016: $1m). During the year, the firm announced a new $5m term loan facility with Silicon Valley Bank, with an additional $3m revolving credit facility. In December, the company successfully placed 2.97m shares, raising gross proceeds of $22m.
The firm announced two new contract awards for WANdisco Fusion with major financial institutions, a record $4.32m contract win as well as a $4.1m contract, both of which were secured through its IBM OEM partnership. WANDisco also secured a $2m contract for WANdisco Fusion with one of the world’s largest retailers and announced a first contract win for WANdisco Fusion in the healthcare sector with a major American healthcare company.
In addition, the firm secured an OEM partnership with Virtustream, a Dell Technologies company, for WANdisco Fusion, worth a minimum of $3.6m. It also launched one of the industry’s first Hybrid Data Lake architecture in collaboration with Amazon Web Services.
David Richards, CEO and interim chairman of WANdisco, said: “We are delighted to have achieved record bookings for the full year of $22.5 million. This strong momentum has been underpinned by strong bookings for WANdisco Fusion across a variety of major vertical markets, including two large contract wins with major financial services companies.
“We are also encouraged by the performance of our partner-based go to market strategy, with significant bookings this year from our IBM OEM relationship, and the addition of another significant OEM partner with Dell’s Virtustream.
“Our market doesn’t stand still – and nor does our product. There has been a transformation at WANdisco which started when we launched our core WANdisco Fusion product. We moved from a Hadoop focus towards providing a general data replication platform and we now support Cloud Object Storage and a variety of other technologies, increasing our addressable market. We have made significant improvements to our core WANdisco Fusion product, making it more flexible, easier to install, and faster with reduced complexity. This should further increase our abilities to win new business in the future.
“We have begun 2018 with a strong new business pipeline across multiple industry verticals, not only through our partnership with IBM, but also via our other channel partners, as we maximise our routes to market. With the proceeds of the recent placing we have the resources to capitalise on the opportunity in front of us.”
