Turbonomic Announces Continued Momentum with Strong Close to FY2020
Record performance fueled by New Customers, Innovation, and Acquisitions
BOSTON, MA— April 21st, 2020 – Turbonomic, the leader in Application Resource Management (ARM), today announced record revenues for fiscal year 2020. In addition, the company achieved double-digit growth in new customers (including eight of the top 10 U.S. money-center banks) validating the opportunity and demand for the company’s solutions. Turbonomic ARM now manages applications, on premises and in public cloud, for 26 percent of Fortune 500 companies. Helping customers remain productive with resilient applications and responsive networks, in unprecedented times like these, is more important than ever.
During the year, Turbonomic acquired SevOne to add industry-leading network performance management and ParkMyCloud, a SaaS platform for automating cloud cost controls, to extend its ARM platform while building the Future of Performance. Turbonomic, progressing its architecture and delivery options, re-platformed to a highly scalable cloud-native architecture and added SaaS offerings, broadening its Application Resource Management portfolio “from code to node.”
“Turbonomic solves the automation and optimization challenge by applying the economic principles of supply, demand, and price to manage IT resources. Moreover, thanks to its automated platform, Turbonomic can determine actions to take and when to do them. As a result, its service can manage multicloud complexity at the lowest cost with the most predictable performance, as well as prevent revenue loss due to application downtime or performance degradation.” (Source: Filippo Vanara, IDC Vendor Profile, Turbonomic: Optimizing Workload Performance and Efficiency at Scale in Multicloud Environments, August 2019).
Turbonomic’s strategic partnership with Cisco, including AppDynamics, magnified its sales presence and market coverage globally. The OEM relationship with Cisco, which offers Cisco Workload Optimization Manager (CWOM), assures application performance and compliance by assuring the applications receive the right resources at the right time. In parallel, Cisco expanded its use of Turbonomic’s patented technology with its launch of Intersight Workload Optimizer (IWO) announced at Cisco Live in Barcelona. Cisco IWO represents a new offering that will help customers bridge the gap between applications and infrastructure to proactively address performance risks before users are impacted.
With customers accelerating their migration to the public cloud, Turbonomic also expanded its strategic partnerships with Microsoft and AWS as a priority ISV. These partnerships provide access to the cloud providers’ global customers that are looking to accelerate their cloud adoption, run a well-architected hybrid environment, and ultimately assure application performance while controlling their cloud spend.
In addition, Turbonomic announced a partnership with IBM bringing the power of continuous application performance to IBM’s multicloud management solutions. IBM clients can now leverage the IBM Cloud Pak for Multicloud Management with Turbonomic’s AI-driven automation to manage the entire application stack of infrastructure resources. This combined offering enables customers to continually deliver the most reliable application performance.
"IBM Multi Cloud Management can move any workload within and across any platform,” said Pratik Gupta, CTO, Hybrid Cloud Management, Chief Architect, IBM Cloud Pak for Multicloud Management. “Turbonomic ARM tells us the workloads to move, where to place them, and whether to increase or decrease the designated resources.”
“Our strong Q4 growth and record FY20 performance reflect the value being delivered to customers and the alignment with their top priorities,” said Tom Murphy, CMO of Turbonomic.
“Partnering with Turbonomic, we were able to free infrastructure teams to focus on higher-value projects that provide value to the business,” said Bryant Tom, Manager Distributed Systems Support Sharp HealthCare. “We bridged the gap between siloed application and IT teams to increase productivity and transparency.”
- Revenue for fiscal year 2020 increased +20% year over year
- Revenue for the fourth quarter increased +61% year over year
- Re-platformed the core ARM offering to a highly scalable microservices architecture now available as a SaaS offering for Azure and AWS
- Extended support for Application Performance Management solutions including AppDynamics, Dynatrace, New Relic, DataDog, and Azure Application Insights
- Extended support for VDI/VSI/vSAN environments
- Extended support for Kubernetes environments including Red Hat OpenShift, Amazon EKS, Azure AKS, and Google GKE
- Integrated with ServiceNow workflows to route resourcing actions for approval and log changes in the system of record
- Delivered Cisco Intersight Workload Optimizer (IWO) bridging applications to infrastructure
- Enabled the world’s largest companies to transition to 100% “Wi-Fi-first” workforce and next generation SD-WAN networks supporting industry leading solutions such as Aruba, Cisco Viptela, Versa, Nuage, VeloCloud, and Silver Peak
- Empowered customers to schedule full applications, that use multiple accounts and services, across AWS, Azure, Google Cloud, and Alibaba Cloud
- Expanded list of Intellectual Property (IP) with 16 approved patents
- Expanded the Cisco relationship to include Cisco Intersight Workload Optimizer
- Extended go-to-market partnership with AppDynamics to deliver most reliable application performance
- Named an inaugural launch partner for new Amazon Web Services Microsoft Workloads Competency
- Bolstered partner program with new cloud path for AWS and Azure systems integrators
- Announced strategic partnership with IBM and integration with IBM Cloud Pak for Multicloud Management
- Named to the Forbes Cloud 100 for fourth consecutive year
- Named to Inc. 5000 list of America’s Fastest-Growing Private Companies for the fourth time
- Named multiple leaders to CRN’s 2019 Women of the Channel list
- Awarded Inc. Magazine’s Best Workplaces in 2019 for the fourth year
- Awarded five-star rating in CRN’s 2019 partner program guide
Turbonomic, leveraging Application Resource Management (ARM), is transforming the way people and organizations optimize their cloud, infrastructure, and network resources to support their business applications. Our mission is to be the go-to partner for assuring the performance of any application on any platform. We help manage the increasing complexity of the full stack of application resources to continually deliver the best end user experience. By delivering an integrated platform and empowering an ecosystem of strategic partners such as Cisco, IBM, Microsoft and AWS, we are assuring application and network performance for thousands of organizations including twenty-five percent of the Fortune 500. Our vision is that every application always gets the resources it needs, and users never have to wait for an application. To learn more, visit turbonomic.com.