Panzura "Doubles Down" on AEC Market With 1200% GrowthAppoints Market Experts Eric Wolford and Carl Bass as Advisors to Continue Growth
March 12, 2014
Despite 400% year over year revenue growth and being the recognized leader in the ever-expanding cloud storage controller and global NAS market, Panzura announced today a go to market focus on the Architecture, Engineering, and Construction (AEC) market. This move is to take advantage of a perfect alignment of product to customer pain that has resulted in 1200% quarter over quarter growth in AEC revenue as well as the percent of AEC revenue increasing from 13% to 60% of Panzura's total revenue quarter over quarter.
Panzura's patented global file locking technology is the only solution that solves the cross-site collaboration issues that have nagged this industry for years and have become crucial for internal and external collaboration needs with AEC applications like Revit, AutoCAD, and Civil3D. This unique file locking capability reduces application sync time of users in distributed sites from 20 minutes to 10 seconds, truly enabling all users to work as if they were in the same room.
Panzura has added a number of major AEC customers in the past quarter, including Bolton & Menk, C&S Companies, Mead & Hunt, Clark Nexsen, exp, BWSC, Milwaukee Tool, Graef, and a slew of others. Customer acquisition velocity is accelerating as word spreads throughout the AEC industry that Panzura uniquely solves what is perhaps the most important IT challenge facing these organizations.
"It's critical for our users to be able to access complex project data files, regardless of the office in which they reside," said Eric Quinn, IT manager at C&S Companies. "We had a 10-megabit MPLS network and had implemented WAN optimization, but despite these measures, only Panzura made it possible for our workers to access and share complex data files at LAN speeds from any of our offices."
Panzura has "doubled down" on this market focus with additions to the company's advisory board, management team, patent portfolio, product roadmap, and sales and marketing focus.
Underscoring the importance of Panzura's solutions to the AEC market, Panzura recently added Carl Bass, CEO of Autodesk, and Eric Wolford, Venture Partner at Accel Partners and former president of the Products Group at Riverbed, to its board of advisors. The company also recently named Barry Phillips as its new Chief Marketing Officer and promoted Rich Weber to Chief Strategy Officer.
Panzura's ability to solve this enormous AEC pain point is protected by numerous patents, including "Global Deduplication File System" under US Patent No. 8,306,948, "Efficient Cloud Network Attached Storage" under US Patent No. 8,341,363, and "Forwarding File-system-Level Information to a Storage Management System" under US Patent No. 8,356,016.
"While we are excited we have discovered a critical need for which we have the only solution, we are more excited that we are helping enable AEC companies innovate in the way they design, architect, and build everything from small buildings to a $65B pipeline," said Randy Chou, co-founder and CEO of Panzura. "Our global file locking, deduplication, and compression systems enable globally distributed users of AEC applications to access and share huge files from the cloud with the same speed as if they were stored locally, and that's something nobody else can do."