Lightbits Closes FY23 with Outstanding Growth as Customer Demand Accelerates

--News Direct--

SAN JOSE, Calif., February 14, 2024 – Lightbits Labs (Lightbits®), an innovator of disruptive cloud data storage that delivers efficient, flexible, and resilient cloud infrastructure for performance-sensitive workloads at scale, proudly announces its exceptional performance results from 2023, marked by a 3X increase in software revenue compared to the previous year. The company attributes its growth to increasingly steady demand from enterprise organizations seeking cost-efficient cloud storage with the flexibility to provision storage resources where and when they are needed without compromising on performance, scalability, or data services. Lightbits appeals to business leaders with a hybrid or multi-cloud strategy, offering license portability across clouds while delivering the same superior performance and robust data services capabilities across any deployment platform–on-premises or public clouds.

Additional indicators that Lightbits’ modern, software-defined cloud data platform is well-positioned in the marketplace is a YoY 2X increase in pipeline, revenue, and average deal size across the board. Customer growth is attributed to the expanded use cases for the Lightbits data platform. Lightbits built its business with specialty Cloud Service Providers, which remains a core focus. Last year saw the expansion of use cases with Lightbits becoming an integral component of cloud infrastructure for Online Retailers building eCommerce platforms on-premises and in the public cloud, AI Clouds, and global Fortune 500 financial services organizations launching their own cloud services. The company’s growth aligns with the broader investment trend, as Fortune Business Insights projects the cloud market to expand from $480B in 2022 to an estimated $1.7T by 2029, registering a compelling CAGR of 19.9%.1

Having launched Lightbits as a Managed Service on Azure last Fall, the company remains poised for sustained innovation and growth with Lightbits for Azure VMware Solution (AVS) offering an effective alternative to enterprise organizations that want to migrate their performance-sensitive workloads to the cloud. Lightbits is the first NVMe® over TCP external storage target for AVS promising scalable high-performance, consistent low latency, and predictable low storage costs. And because AVS is a fully consistent VMware platform, organizations can “lift and shift” their workloads without expensive application refactoring. For organizations using container orchestration or running top-tier databases Lightbits on Azure also provides cost-efficient, resilient storage for Azure Kubernetes Service (AKS) and Oracle on Azure.

Since launching the global channel program Lightbits Luminary Program, Lightbits has experienced a surge in interest with the channel base increasing by twenty-two percent from the previous year. The differentiated data platform enables partners to capture a greater share of the growing cloud market which grows top-line revenue. For systems integrators, resellers, and other organizations with a cloud practice interested in joining the Lightbits program, go to the Lightbits Luminary Global Partner Program website or email partners@lightbitslabs.com.

A summary of key accomplishments follows.

Product innovation

• In September 2023,

In 2023, Lightbits received two more patents, for a total of eighteen patents and many more pending, reinforcing its commitment to disrupting the market with innovative and relevant cloud solutions:

• Awarded Patent 11,789,632 for a “system and method for data placement in multiple tier storage systems.
• Awarded Patent 11,740,804 for a “system and method for performing data striping.”

Key announcements

• In September 2023, Lightbits Launched the Global
• In March 2023,

Industry validation

Lightbits received several significant industry awards in 2022:

• Lightbits Wins CRN’s “” for the Second Year in a Row
• Lightbits Recognized As
• TechTarget Names Lightbits
• Lightbits Named to

Supporting Quotes

Patrick McGregor, Chief Product Officer, Crusoe Cloud

“Lightbits has been instrumental in helping us build a high-performance, climate-aligned AI cloud platform. They continue to be a great partner, providing continual improvements in product usability and high quality, hands on support for our team.”

Read Crusoe’s blog, “How We Built an AI Cloud Powered by Lightbits.”

Stefan Majer, Chief Technology Officer, x-cellent technologies GmbH and metalstack.cloud

“No other storage solution had the same price-performance ratio and tight integration into Kubernetes. In particular, the achievable latency with Lightbits is outstanding.”

Lightbits will be demonstrating fast, persistent, cost-efficient storage for Kubernetes with metalstack.cloud, a managed Kubernetes service, in Stand #M9 at KubeCon Europe, March 19-22, 2024, in Paris, France.

Eran Kirzner, Co-founder and CEO, Lightbits Labs

“I am immensely proud of our accomplishments last year. The solutions we launched deliver efficient, flexible, and resilient cloud data storage for performance-intensive workloads at scale. Business leaders who want to remain competitive by innovating faster while controlling cloud storage costs have to architect agile infrastructure with software-defined everything. Our solution delivers simple provisioning, with the flexibility to move storage services where they are needed. We thank our customers for their trust and partners for their contribution to our success and look forward to continuing to shape the future of cloud data, together.”

Scott Sinclair, Practice Director, Enterprise Strategy Group

“Our research illustrates that a majority of organizations turn to the cloud for strategic benefits in terms of superior innovation and accelerated time to value. That same research illustrates that cloud migration is hindered by the ability to control cloud storage costs. The Lightbits solution breaks the barriers to cloud adoption by delivering the performance requirements for today’s workloads at scale while delivering predictable and lower cloud storage costs and reducing overall TCO. We expect this to be an especially compelling solution for organizations who want to migrate their virtualized database workloads to the cloud leveraging the Lightbits for the Azure VMware Solution.”

Ned Engelke, Chief Technology Officer, EVOTEK, a Lightbits Luminary Genius Partner

“The exceptional growth and demand for Lightbits' innovative cloud storage mirror the market's recognition of its ability to solve enterprise data center cloud modernization problems. Last year’s success was nothing short of remarkable, jointly acquiring a Fortune 100 financial services customer and growing our businesses with new use cases for cloud-architected data centers.”

Additional Resources:

• Lightbits on the Microsoft Azure Marketplace
• Storage options for Oracle on Azure VMs
• Lightbits on the AWS Marketplace

1 Fortune Business Insights, "Cloud Computing Market Size, Share & COVID-19 Impact Analysis, By Service Type (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)), By Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), By Industry (BFSI, IT and Telecommunications, Government, Consumer Goods & Retail, Healthcare, Manufacturing, Others), and Regional Forecast, 2022-2029.

About Lightbits Labs

Lightbits Labs® (Lightbits), offers a complete data platform that enables organizations to run performance-sensitive workloads on the public cloud or to build a high-performance, cost-efficient on-premises private cloud. The software-defined, NMVe/TCP and clustered architecture, coupled with essential data services solve the common cloud storage challenges of performance, efficiency, and cost eliminating the barriers to cloud adoption. Lightbits is backed by enterprise technology leaders [Cisco Investments, Dell Technologies Capital, Intel Capital, Lenovo, and Micron] and is on a mission to deliver a robust cloud storage platform with unmatched performance, efficiency, agility, and flexibility.

Lightbits and Lightbits Labs are registered trademarks of Lightbits Labs, Ltd.

All trademarks and copyrights are the property of their respective owners.

Contact Details

Lightbits

Carol Platz

pr@lightbitslabs.com

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