StorMagic recorded 36% annual recurring revenue growth in its latest fiscal year, marking its 20th anniversary.
Demand increased as customers looked for alternatives to VMware and sought to control costs in edge, remote-office, and small data-centre environments. Hardware shortages and higher equipment costs also influenced buying decisions over the past year.
StorMagic sells virtualisation and storage software for organisations that want to run workloads on-site without relying on larger, more complex infrastructure stacks. Recent growth was accompanied by the expansion of its global sales team and partner network.
The company also reshaped its leadership team. Susan Odle became Chief Executive Officer, Scott Mann joined as Senior Vice President of Worldwide Sales, and John Serino joined as Vice President of Marketing. Dave Hallmen, who StorMagic described as a virtualisation industry veteran, also joined its non-executive board of directors.
The figures come during a…
