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PHD Virtual Announces Record Revenue Growth With 40 Percent Increase Year Over Year

PHD Virtual Technologies, a pioneer in virtual machine backup and recovery, and innovator of virtualization monitoring solutions, announced today that it has achieved its 9th consecutive quarter of record revenue highlighting a 40-percent year over year growth rate compared to this same quarter in 2011. The company added over 300 new customers during the quarter.

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Worldwide customer adoptions of the recently released PHD Virtual Backup 6.0 and PHD Virtual Monitor 10.3 solutions as well as a new global partner program helped drive revenue. In addition, PHD expanded its executive team and board of directors with the addition of a new Chief Marketing Officer (CMO), Steve Kahan; and new Board Member, Kevin M. Klausmeyer.

"We are on an unprecedented growth curve and are delivering on our customer promises for easier, faster and more seamless virtual backup and monitoring solutions to help users get the most value out of their Virtual IT environments," said James Legg, CEO of PHD Virtual Technologies. "We continue to expand our focus on sales and marketing and have hired a new CMO and brought on a new Board Member, both of whom are industry veterans and come to PHD Virtual with a wealth of experience with high-growth, software solutions companies."

PHD recently launched its PHD Virtual Backup 6.0, which features faster backup and replication with optimized performance against any type of storage target, including cloud gateway devices. Customers gain the advantages of application aware backups and encrypted data protection along with functionality that helps demonstrate compliance with policies and regulations to pass internal and external security audits.

PHD Virtual Backup 6.0 also incorporates more savvy recovery methods that minimize downtime for even the smallest customers that cannot leverage replication.

According to customer Marek Friedl of Hardt Equipment, "We have so many tasks on our plates that we can't afford to spend much time managing backups. PHD Virtual makes the whole process a piece of cake. We are really impressed with the performance and de-duplication. I don't know how they put so much power into such an easy-to-use product, but they did!"

Steve Kahan serves as Chief Marketing Officer for PHD Virtual and is responsible for global campaign marketing, product management, partner marketing, branding and marketing communications, as well as public and analyst relations. Kahan has more than twenty-five years of experience building successful high energy, high commitment organizations that produce breakthrough revenue growth.

Kevin Klausmeyer joins the PHD Virtual Board of Directors and served on the board of Quest Software (Nasdaq: QSFT), an enterprise software solutions company, from July 2003 to September 2012. He most recently served on the Special Committee of the Quest Software board which oversaw a process to maximize shareholder value. This process resulted in Dell's acquisition of the Company on September 25, 2012 at a 40% premium.
Published Tuesday, October 16, 2012 7:39 AM by David Marshall
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PHD Virtual Announces Record Revenue Growth With 40 Percent Increase Year Over Year « VT News - (Author's Link) - October 16, 2012 12:14 PM
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