The company's financial performance was driven by technology deployments, customer support and continued momentum in the channel.
Key highlights from 3Q14 include:
70% increase in worldwide bookings, Q3 2014 over Q3 2013
30 new employees hired across the globe
42% MSP recurring revenue growth, Q3 2014 over Q2 2014
100% growth in channel-generated business in North America, 3Q14 over 3Q13
"We've maintained an unwavering commitment to delivering simple and affordable enterprise data protection offerings backed by an unrivaled customer support team," said Mike Coney, Unitrends' president and CEO. "This winning formula has propelled us to tremendous success in recent years, and we'll continue to make it the foundation of our business model as we enter the next stage of corporate growth."
In addition to driving continued expansion in Q3, Unitrends relocated its corporate HQs to Burlington, MA, from Columbia, SC. Supported by a growing local sales and marketing team, the company is now better positioned to hire Boston-area talent, expand its New England footprint of more than 1,200 customers and capture an greater share of the data protection market.
Virtual, Physical and cloud Data Protection Offerings
Throughout Q3, Unitrends continued to deliver virtual, physical and cloud data protection offerings. In August, it enhanced the software powering Unitrends Recovery-Series, the company's family of physical backup and recovery appliances, and Unitrends Enterprise Backup, its software-only virtual appliance. The latest software includes support for third-party cloud storage archives and continues to push virtual, physical and cloud data protection and DR to new levels of scalability and performance.
Also in the quarter, the company launched Unitrends Virtual Backup (UVB) 8.0, a purpose-built virtual appliance providing hypervisor-level protection for vSphere, Hyper-V and Xenserver. Simplifying virtual data protection, UVB 8.0 enables organizations to backup entire multi-hypervisor environments in four mouse clicks. Additionally, with UVB 8.0, backup and recovery can be performed up to 20 times faster, using 66% less storage space and 75% less virtual resources than competing systems.
Free Tools Portfolio Unveiled
In Q3, the company unveiled a portfolio of free online service tools to help organizations with limited time and budget better manage data protection.
New tools include:
BC/DR Link - Enables companies to quickly build a DR plan.
Unitrends Backup Capacity Tool - Allows systems administrators to capture a complete snapshot of all data center files residing on storage devices and servers, and view file-level information that can be used to plan, construct and schedule backups.
Unitrends Storage Inventory Tool - Gives administrators visibility into their entire storage environment, enabling them to accurately see how storage assets are being used and where they are stretched to capacity.
Channel Program Milestones
Unitrends' channel program continued to soar in the third quarter. Channel-generated business in North America increased 100%, 3Q14 over 3Q13. August marked the one-year anniversary of Unitrends' Service Provider Program, which enables hosting, managed services and cloud providers to generate recurring revenue through high-margin service offerings. The program was well received in its first year, resulting in 278% revenue growth. This performance is a result of the business value the program provides - data protection at low TCO, which, in turn, enables providers to increase recurring revenue, boost profitability and attract new customers.
Unitrends also announced that Tech Data Corporation, one of the world's largest wholesale distributors of technology products, is now offering Unitrends DR as a Service to its extensive network of resellers. DRaaS is an automated BC solution that guarantees full recovery of entire IT infrastructures in the cloud within hours of a declared disaster.
Validation from Community
Company growth and data protection technology were recognized by the following organizations this past quarter:
DCIG - Unitrends Certified Recovery Suite (UCRS) received the Best-in-Class ranking inDCIG's 2014-2015 Virtual Server Backup Software Buyer's Guide, which evaluated 26 virtual server backup software solutions to assist readers with purchasing decisions.
TMCnet - Unitrends DRaaS and BC/DR Link were named winners in this year's Cloud Computing Backup and DR Awards.
Inc. magazine - Placed No. 1010 on Inc. magazine's 33rd annual Inc. 500|5000, a ranking of the nation's fastest-growing private companies.