Model9 Shatters Performance Records in 2021
2021 was a record-breaking year for Model9. As the new year gets started, I wanted to take a moment to share some of the incredible results we had over the last twelve months, so you can see why we are poised for an even bigger 2022.
Most importantly, we took a huge leap forward in creating true awareness in the enterprise market for Model9’s game changing data-first approach to modernizing mainframe infrastructure.
And beyond mere recognition, there was a strong increase in adoption as well. We closed a deal with one of the top 10 US banks, won a Fortune 500 customer, and saw multiple Global 2000 customers embrace our next-generation technology.
Our strong results prove the market for new and innovative hybrid-cloud technologies that unlock the value of mainframe data is growing. Data-driven decision making initiatives are a top priority for enterprises, and Model9 is emerging as the clear choice for fast-tracking cloud-first strategies and making mainframe data available to BI/AI/ML applications in the cloud quickly and securely.
Below are some of the highlights from a breakout 2021 for Model9.
Financial Highlights
In 2021, we had the largest amount of growth of any year to date. From adoption by Fortune 500 companies, to strong growth in 7-figure deal signings and new customers via the AWS marketplace, Model9 is growing its market footprint and delivering impressive gains in the size of the deals it signs with new customers.
- Strong revenue growth: Model9 tripled its revenue year-over-year, finishing 2021 with new highs in both overall revenues and run rate of net new bookings.
- Enterprise market penetration: Model9 significantly increased the number of paying enterprise customers, including multiple Fortune 500 companies.
- Adoption by the Fortune 50: Model9 closed deals with companies from both the Fortune 50 and Global 2000 customer list. It also won a contract to modernize the mainframe infrastructure of a top 10 US bank.
- Rapid increase in deals worth $1m+: Model9 saw an increase in the number of 7-figure deals it signed with customers.
- Expanding our footprint: Model9 is now managing more than 10x times the capacity than in 2020.
- Expanding our pipeline for 2022: We set ambitious goals to continue our growth rate, and currently have a strong pipeline with multiple 7-figure deals and Fortune 500 customers.
Fiscal Year 2021 Advancement and Recognition
- AWS preferred partner: Model9 wins large, enterprise, PB-scale deals in the AWS marketplace, solidifying its status as a preferred partner and growing its reputation within the strategic AWS community.
- Model9 Achieves AWS Migration and Modernization Competency Status: Model9 achieved Amazon Web Services (AWS) Migration and Modernization Competency status for AWS Partners. This designation recognizes that Model9 has demonstrated technical proficiency and proven customer success automating and accelerating customer migration and modernization journeys.
- Microsoft Azure IP Co-Sell Partner: Model9’s Cloud Data Manager for Mainframe is available in the Microsoft Azure Marketplace, and is also now designated as “Microsoft Preferred Solutions” under the Azure IP Co-sell program.
- Zero churn: The strength of Model9’s product offering and team continues to excel and wow customers, with the company yet to experience a single churned customer after implementing the Model9 solution in production.
Growth Advisory Board Leadership
Model9 launched a new Growth Advisory Board to help guide the company in its global expansion and deepen industry awareness of its unique data movement and management capabilities. All members of the board have experience in digital & analytics transformation, mainframe, and cloud technologies relevant to integrating the cloud and the mainframe.
Industry leaders who joined our Growth Advisory Board include: Brian Householder, President and former CEO of Hitachi Vantara, Norm Judah, former Worldwide Services CTO at Microsoft, Andy Walter, former SVP IT at Procter & Gamble, Suzanne Brodeur, former SVP of Technology at Fidelity Investments, Eugene O’Callaghan – former SVP cloud at DXC.
Recognition from leading analysts and tech media
- Gartner Cool Vendor: Model9 was named a Cool Vendor in the Gartner Cool Vendors in Storage and Hybrid Infrastructure — Modernize Legacy, Prepare for Tomorrow
- Featured in 451 Research’s S&P Global Market Intelligence report Model9 puts data at the center of mainframe-to-cloud integration
- Named a digital innovator by Intellyx, receiving its 2021 Digital Innovator Award
- Named Most Promising Solution in CIO Review Magazine’s 2021 list of 10 Most Promising Backup Solution Providers
- Named in GlobalTech Outlook’s Top 10 Most Promising Companies Transforming the Cloud Industry
- Featured by CRN Media as a Hot Storage Technology startup for 2021
- Named by Analytics Insight as one of the 100 most disruptive companies to watch in 2022.
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