Silk Drives >50% ARR Growth in FY2022
NEEDHAM, MA – February 6, 2023 – Silk, the leading platform for accelerating the performance of business-critical workloads in the cloud, today announced Annual Recurring Revenue (ARR) grew over 50% in FY2022. This comes on top of the company securing $56M USD in Series B funding earlier in the year.
“Increasingly, customers are looking for more reliable ways to migrate and run their business-critical workloads in the public cloud,” said Dani Golan, Founder and CEO at Silk. “In 2022, an increasing number of companies turned to Silk to overcome their two biggest constraints on cloud adoption – performance and cost.”
- Optima Health, Sentara Healthcare’s managed care plan division, can now get the performance it needs for its Microsoft SQL Server databases on Microsoft Azure, while reducing the cost of delivery leveraging Silk.
- SimCorp, a provider of integrated investment management solutions, can migrate and support their most demanding customers on Microsoft Azure and deliver the required user experience with the Silk platform.
- WEX Inc simplifies the complexities of payment systems across continents and industries. With Silk, Wex can migrate key applications to Microsoft Azure and continuously deliver on their performance goals while controlling cloud costs.
- Unmatched Performance – Combining the latest compute types with increased Silk scale, Silk has demonstrated up to 16.4GB per second and 2 million transfers per second from a single Data Pod. With such high-performance levels and consistent sub-millisecond latency, customers can use Silk to confidently run their business-critical databases in the cloud.
- New Levels of Resiliency and Availability – Silk is built for resiliency above and beyond the underlying cloud platforms, providing increased availability for our customers. Silk launched several new capabilities, such as Fast Failback and Continuous Rebuild, that further improve RPOs and uptime for business-critical workloads.
- Improved Cost-Efficiency – Silk’s virtualized architecture enables customers to leverage the latest compute types to boost performance by up to 45%, improving the price-performance of their Silk Data Pods. Working with Microsoft, Silk demonstrated 10GB per second and 700k transfers per sec from a single Oracle or Microsoft SQL database on a single Virtual Machine running standard database software.
- Greater Observability – Silk partnered with Datadog to release a native dashboard integration, enabling real time updates and coordination with broader monitoring automation.
- Enhance Security – Silk added CHAP (Challenge-Handshake Authentication Protocol) to improve security. CHAP is a challenge and response authentication method that Point-to-Point Protocol (PPP) servers use to verify the identity of a remote user. CHAP enables remote users to identify themselves to an authenticating system, without exposing their password.
Silk appointed Tom Murphy as Chief Marketing Officer. Murphy brings over 20 years of experience in software marketing with a proven track record creating successful go-to-market strategies, advancing brand recognition, and scaling marketing efforts at various Boston-based startups.
Janet McHallam joined Silk as VP of Strategic Growth in 2022. Janet brings over 20 years of sales experience scaling sales teams in cloud and security focused organizations.
Media company, TMC, and Cloud Computing Magazine named Silk as a 2022 Product of the Year Award. This is the second year in a row that Silk has been recognized for this honor.
The Silk Data Virtualization Platform gives demanding workloads 10x faster performance on the cloud compared to native cloud alone. It is a virtualization layer that sits between the underlying cloud infrastructure and customers’ workloads. Without refactoring, workloads such as Oracle, Microsoft SQL Server, and industry-specific applications can move onto public cloud while massively improving user experience. Industry leaders in e-commerce, SaaS, FinTech, and healthcare trust Silk with their business-critical workloads to get the ultra-fast speeds their customer demand. Silk is headquartered outside of Boston, MA. To learn more, visit silk.us.
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