Businesses are increasingly relying on applications to connect with their customers. This year has tested their digital dexterity as they look to provide a reliable and rewarding end user experience. It’s also never been more challenging to deliver on this promise.
Turbonomic recently announced 78% revenue growth for our third quarter – we feel incredibly fortunate to be in a position where we can help our customers manage through the challenges that COVID has presented. A few of the growth drivers that helped us deliver a successful quarter include:
As the need for agility and elasticity intensifies, customers are partnering with Turbonomic to simplify the accompanying complexity. For example, O.C. Tanner leveraged Turbonomic’s platform to accelerate their Kubernetes adoption and deliver an innovation-first PaaS. One of the leading North American banks worked with Turbonomic to build their next-generation hosting platform, enabling them to innovate at the speed of a disruptive Fintech start-up. Eight of the top ten U.S. money center banks leveraged Turbonomic to safely absorb the market volatility generated by the U.S. election and COVID.
Turbonomic’s Network Performance Management (NPM) business, through industry leading Managed Service Providers, grew 82%.
To enable our customers to accelerate adoption and value, the Turbonomic Educational Services team pivoted quickly to deliver remote training. The team conducted over 50 public classes and 100 private trainings valued at $3M. More than 3,200 people have leveraged the training since the start of the pandemic.
Our Cisco partnership continued to accelerate this quarter – bookings grew at 75%. With the recent general availability of Cisco Intersight Workload Optimizer (IWO) launch, we expect this trajectory to continue. With regard to IWO, IDC stated, “This is an increasingly important OEM from Turbonomic. Intersight Workload Optimizer integrations with AppDynamics provide access to data about application performance, business transactions, and other observability data to offer customers a full-stack view across application, datacenter, and public cloud performance, health, and costs. Cisco noted that this significantly enhanced Intersight platform will offer customers a bridge between application developers and I&O professionals by providing a single control point for operations and automation across public and private cloud resources.” (Source: IDC Link: Cisco Partner Summit 2020: Customers Should Take Note of Strategies for Intersight and AppDynamics Platforms, doc #lcUS47003320, November 2020)
Coming off the recent IBM OEM launch, a growing number of IBM customers are now benefitting from IBM ARM and the Turbonomic Network Performance Management (NPM) solution being resold by IBM. Additionally, IBM sellers have been enabled and are building a robust pipeline. The Red Hat Marketplace now offers Turbonomic ARM, making it easier for customers to leverage technologies that will ensure success on their journey to cloud native. IBM also announced its IBM Cloud for Telecommunications Partner Ecosystem, which Turbonomic joined in order to help customers accelerate the adoption of 5G and edge technologies.
Recently announced Turbonomic Data Cloud, a performance data warehouse, enables high-definition analysis and reporting to be leveraged by Application and Operations teams. This SaaS offering ingests detailed application metrics, resource utilizations, and the prescribed actions taken to deliver a unified perspective across highly diverse data sources. Now, customers in diverse roles can rewind and replay time-series performance data to get accurate answers to their most complex performance questions faster and easier.
With the launch of Turbonomic 8, we also introduced new multicloud enhancements that enable customers to assure application performance by leveraging advanced AIOps, helping them realize new levels of elasticity and agility. Additionally, we’ve developed advanced capabilities to provide customers with dynamic resourcing decisions and automation for Kubernetes based applications.
Industry Leadership and Recognition
Turbonomic celebrated its first Community Action Day. All employees were given November 3rd off and were encouraged to help their communities.
Garnering third-party validation, TrustRadius awarded Turbonomic with a Tech Cares Award for going above and beyond to provide their communities, clients, and front-line workers with support during the COVID-19 crisis. G2 deemed Turbonomic a High Performer for Fall 2020 and Winter 2021, a result of strong customer reviews reflecting on the value of the platform.
Doubling down on its commitment to Diversity, Equity, and Inclusion (DEI), Turbonomic appointed Meg Langan as Chief People Officer, responsible for creating growth opportunities for employees, developing a new post-COVID work experience, and driving the creation of a more diverse and inclusive workplace.
As we enter the holiday season, our celebrations may look different this year – but we can still pause to reflect on the positive. While Turbonomic’s technology has significantly helped IT organizations manage through COVID, it’s the people behind the technology that we have to thank for a record quarter. We are grateful for our customers, employees, and alliance partners – none of these milestones would have been achieved without the support of our extended community! We look forward to continuing this momentum as we close out the final quarter of the year.
Be resilient. Stay positive and test negative.