GridGain Continues to Deliver Strong Growth in 2022

Customer Satisfaction and Robust Product Strategy Drive Increased Adoption

FOSTER CITY, Calif., Feb. 06, 2023 (GLOBE NEWSWIRE) -- GridGain^®, provider of enterprise-grade in-memory computing software for high-performance applications, today shared details about the company’s continuing momentum as it helps companies deliver the data processing speed and scale necessary to gain insights faster from ever-increasing volumes of information.

In 2022, GridGain experienced its 9th consecutive year of strong revenue growth with cash-positive operations. Responding to customer requests, key enhancements were made to the platform in the areas of high availability, replication, hybrid transactional/analytical processing (HTAP), and disaster recovery. Furthermore, the company deepened its integrations with the top three cloud provider vendors.

Adoption of the GridGain platform expanded significantly from its core use cases in financial services to new critical use cases in telecommunications, transportation & logistics, and retail. In support of its growing customer base, the company established GridGain University. And GridGain strengthened its executive team, announcing the appointment of Eoin O’Connor as President and CEO and Katherine Barnhisel Rincon as Chief Marketing Officer.

“Our customers and prospects continue to tell us that the current economic environment has put even greater pressure on them to make smarter and faster data-based business decisions in order to remain competitive,” said GridGain President and CEO, Eoin O’Connor. “I’m extremely proud that, throughout 2022, the GridGain team continued to execute on our mission of providing customers with the technology and understanding to build out their infrastructures with the speed and scale they need to thrive.”

Growth

• GridGain’s core business has averaged 42% annual sales growth since 2017.
• Bookings from existing customers increased by 68% in 2022.
• Net revenue retention rate was 123% in 2022, reflecting GridGain’s exceptional customer satisfaction.
• The number of companies that have purchased over $1 million from GridGain increased by 22% in 2022.

Management

• Appointed Eoin O'Connor as President and CEO. O'Connor has been with GridGain since 2016, serving as CFO and more recently as COO, and has been pivotal in transforming the company into a leader in the distributed in-memory computing industry.
• Named Katherine Barnhisel Rincon as Chief Marketing Officer. Rincon has more than 25 years of technology marketing experience and is responsible for the company's global go-to-market strategy.

Products and Services

• Enhanced the replication and high-availability capabilities of the GridGain platform to support customers’ evolving requirements in the financial services and telco industries.
• Enhanced the platform’s Snapshot and disaster recovery capabilities to further increase cluster durability, and make it even easier to recover data stored in a GridGain cluster.
• Enhanced the platform’s HTAP capabilities to simplify and accelerate combining OLTP and OLAP processing in a single data platform.
• Delivered deeper integrations with the major cloud providers – AWS, Google Cloud and Microsoft Azure – to further support cloud-based scale and simplify the development and migration of such use cases.
• Expanded its training efforts, including establishing GridGain University, which offers a flexible curriculum to help participants gain the specific GridGain and Apache Ignite knowledge they need.
  

Awards

• Received an American Business Stevie® Award for Company of the Year – Computer Software – Medium.
• Ranked on the 2022 Silicon Valley Business Journal list of the Top 25 Fastest Growing Private Companies in Silicon Valley.
• Ranked on the 2022 San Francisco Business Times list of the Top 100 Fastest Growing Private Companies in the San Francisco Bay Area.
• Received Honorable Mention on the insideBIGDATA IMPACT 50 List.

In-Memory Computing Thought Leadership
GridGain again hosted two free virtual Ignite Summits in 2022 that featured speakers from CERN, Expedia, HPE, IBM, iFood, JP Morgan Chase, Motorola, AWS Aurora, GridGain and more. More than 1,200 attendees from around the world heard talks and participated in discussions on a wide range of topics around modern data architectures and leading industry use cases.

In addition to the Ignite Summits, GridGain continued its in-memory computing thought leadership and education program, delivering valuable resources and hosting and participating in a wide variety of webinars, meetups, training sessions and conferences.

The GridGain In-Memory Computing Platform
The GridGain in-memory computing platform provides the extreme speed and massive scalability to meet the needs of today’s data-intensive applications, without ripping and replacing existing databases. Built on Apache Ignite, it can also be deployed as an in-memory database. The platform scales by adding new nodes to the cluster, which can handle petabytes of data. The world’s leading companies look to the GridGain platform as a key to the success of their digital transformation initiatives.

About GridGain Systems
GridGain Systems is revolutionizing real-time data access and processing by offering an enterprise-grade cloud-native in-memory computing platform. Common use cases for the GridGain platform include high-speed operational analytics, application acceleration, AI/ML model training, and digital integration hubs for real-time data access across data sources and applications. GridGain solutions are used by global enterprises in financial services, software, e-commerce, retail, online business services, healthcare, telecom, transportation, logistics, and other major industries, with a client list that includes ING, Citibank, American Express, AutoZone, UPS, 24 Hour Fitness, Microsoft, American Airlines, Agilent and UnitedHealthcare. For more information, visit gridgain.com.

CONTACT:
Brigit Valencia
For GridGain Systems
Brigit@compel-pr.com
360.597.4516

GridGain is a trademark or registered trademark of GridGain Systems, Inc. Apache, Apache Ignite, and Ignite are trademarks of The Apache Software Foundation. All other product and company names herein may be trademarks of their registered owners.

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