PALO ALTO, CA, August 28, 2013 – Denodo Technologies, the independent leader in data virtualization, today announced that it has experienced double digit revenue growth fueled by a substantial rise in the number of new customers and solutions. With significant vertical market adoption in Defense and Government, Banking, Financial Services and Insurance, Retail and Information Services and with extensive geographic expansion, Denodo continued to attain positive cash flow and profitability.
The Company achieved greater than a 30% increase in average contract value for data virtualization projects driven in part by a higher percentage of customers choosing Denodo’s attractive Enterprise Unlimited Licensing option. Nearly all of Denodo's customers renewed maintenance and/or expanded their initial projects to include upgraded servers during the first half of its fiscal year. New customer engagements and partnerships also contributed significantly to Denodo's worldwide growth. More specifically in the first six months:
- Released the Denodo Platform 5.0 and introduced the industry’s first RESTful Linked Data Services interface.
- Formulated a rolling three year roadmap reflecting Denodo’s broad approach to data virtualization in four critical areas including:
- Agile BI, Data Warehousing, and Virtual MDM
- Big Data, Web, Cloud, Unstructured Integration
- Data Services for SOA and BPM
- RESTful Linked Data for Agile Mobile and Cloud Applications.
- Won or expanded deployments of Denodo data virtualization solutions at industry leading companies looking to meet their critical information and integration needs. These included but are not limited to: AAA, European Chemicals Agency (ECHA), IHS, National Institutes of Health, US Department of Housing and Urban Development - OIG, US Department of Energy (Pantex Plant), and Wolters Kluwer.
- Achieved key milestones for success in expanding go-to-market strategies by solidifying new partner relationships in key geographies including Japan, Singapore, India and Latin America.
- Continued to expand connectivity and product partnerships for both sources and consumers with new certifications for Hadoop (HDFS, Hbase, Hive, Impala), Amazon S3, Microstrategy, MongoDB, Netezza and Tableau.
“As the only independent leader in data virtualization, Denodo has an exceptional opportunity and responsibility to help not only our customers and partners, but the information management community at large to realize the full benefits of data virtualization," said Angel Vina, founder and CEO of Denodo. “While other vendors have been absorbed or limited their focus on a particular integration style to support BI, ETL or network services, Denodo continues to show traction across key industries and geographies and leads the market in the broad and scalable use of data virtualization.”