Welcome!

Weblogic Authors: Yeshim Deniz, Elizabeth White, Michael Meiner, Michael Bushong, Avi Rosenthal

News Feed Item

xkoto Reports Significant Revenue, Customer Growth for 2007; Remains Well Positioned for Continued Expansion in Data Virtualization Segment

Rapid Adoption of xkoto's Data Virtualization Solutions Driven by Expanded Reseller and Partner Channel Agreements in U.S. and E

WALTHAM, MA -- (MARKET WIRE) -- 01/29/08 -- In the fourth quarter of 2007, data virtualization middleware solutions provider xkoto Inc. reported significant revenue growth of more than 150 percent over the same period in 2006. The company's growth and momentum was fueled by the increasing demand from enterprise customers requiring highly reliable and scalable solutions capable of ensuring continuous access to corporate data. Highlights of the quarter and full year include the significant expansion of xkoto's management team, distribution channel and partner programs, as well as new customer adoption in North America and Europe and a major new release of xkoto's flagship product, GRIDSCALE®.

"Customers and prospects in virtually all data intensive segments require high performance, highly reliable, scalable access to data for mission-critical systems. As a result, we're witnessing the rapid adoption of xkoto's proven data virtualization technology," said David Patrick, President and CEO of xkoto. "For xkoto, our customers, and our channel partners, 2007 was a breakthrough year in many respects, one culminated by strong performance in Q4. We fully expect these developments will serve as a springboard for continued growth in 2008."

Further evidence of worldwide momentum comes from the signing of international reseller channel partners including IDB Consulting, an advanced IBM Business Partner with operations in North America and Europe.

"With IDB's focus on delivering high value consulting services for business intelligence applications including Cognos (now IBM) and Business Objects (now SAP), the ability to bring continuous availability through xkoto's GRIDSCALE middleware drives important value for our customers," said Christophe Pierrat, Directeur General, IDB Consulting.

XKOTO'S Q4 MILESTONES

New GRIDSCALE Customers

Continuing its penetration of multiple vertical markets, xkoto added several new customers in the USA, France, and Spain including Mood Media, Groupe Jumbo Tours, Benefit Harbor, Hart Software and FBS Data Systems.

New xkoto Reseller Partners

xkoto continued to expand its two-tier sales and distribution strategy in 2007. The company expanded its direct sales force and added several significant resellers in North America, Europe and Asia Pacific including IDB Consulting, Mainline Information Systems and Datasync Consulting.

New GRIDSCALE Release

During the quarter, xkoto began shipping a major new release of its flagship data virtualization application, GRIDSCALE. Version 3.5 extends xkoto's ability to deliver continuous availability and horizontal scalability of its customers' most critical data and applications. This patent-pending technology enables commercial, off-the-shelf databases to run in a geographic grid with the same or better reliability and performance as much more expensive proprietary systems. With GRIDSCALE, customers gain a number of benefits including 24x7 continuous availability, scalability on demand, the elimination of down time/maintenance windows, complete safety for data across multiple sites and better utilization of hardware assets. GRIDSCALE 3.5 includes support for IBM DB2 9.5 on Linux, AIX, Solaris and Windows.

ADDITIONAL CORPORATE HIGHLIGHTS

Also during the quarter, xkoto announced a series of new corporate developments to support its growth and expansion.

--  In November, xkoto named seasoned software industry executive David
    Patrick as President and CEO. With over 25 years' senior executive
    experience in the software industry, Patrick joined xkoto from Novell. Most
    recently Patrick was Novell's Vice President & General Manager, where he
    managed the Linux, Open Source and Platform Services Group.

--  In conjunction with this news, co-founding President and CEO Albert
    Lee was named Chief Strategy Officer.

--  Also, in November, xkoto announced it closed $7.5 million in new
    financing. The Series B funding was led by GrandBanks Capital. Existing
    investor GrowthWorks Canadian Fund also participated in this round,
    bringing xkoto's total venture funding to $10 million. Tim Wright of
    GrandBanks Capital, GrowthWorks' Roger Chabra, and Khalil Barsoum joined
    the xkoto board in concert with this news.

--  In December, the company named Charles Ungashick as Vice President of
    Marketing. Ungashick joined xkoto from Deltek, Inc. and brings more than
    fifteen years experience in sales and marketing with enterprise software
    companies including Novell, Silverstream Software and Filenet.

--  To accommodate xkoto's growth, the company announced it would open new
    corporate offices in Waltham, Mass., and take additional space at an
    expanded research and development facility in midtown Toronto.
    

About xkoto

xkoto Inc. enables data virtualization across the enterprise. The company's patent-pending GRIDSCALE® platform dramatically outperforms passive backup systems by ensuring continuous availability and horizontal scalability for mission-critical data and applications. With GRIDSCALE, customers can run active-active copies of their databases -- regardless of location and hardware. The result is a more agile infrastructure able to deliver data on demand at a significantly reduced cost. xkoto's software is used by leading companies in financial services, healthcare, insurance, manufacturing and retail. Headquartered in Waltham, Mass. with research and development facilities in Toronto, xkoto is backed by GrandBanks Capital and GrowthWorks Capital. xkoto's technology partners include IBM, Microsoft, Novell, Hewlett-Packard, Sun Microsystems and Sybase. For more information, visit www.xkoto.com.

Add to DiggBookmark with del.icio.usAdd to Newsvine

CONTACTS:
Andrew Soucy/Tim Hurley
BluePoint Venture Marketing for xkoto
781-861-7800
Email Contact
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

IoT & Smart Cities Stories
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
Disruption, Innovation, Artificial Intelligence and Machine Learning, Leadership and Management hear these words all day every day... lofty goals but how do we make it real? Add to that, that simply put, people don't like change. But what if we could implement and utilize these enterprise tools in a fast and "Non-Disruptive" way, enabling us to glean insights about our business, identify and reduce exposure, risk and liability, and secure business continuity?
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, Esmeralda Swartz, CMO at MetraTech; Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems; Seema Jethani, Director of Product Management at Basho Technologies; Victoria Livschitz, CEO of Qubell Inc.; Anne Hungate, Senior Director of Software Quality at DIRECTV, discussed what path they took to find their spot within the tec...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
DXWorldEXPO LLC announced today that Telecom Reseller has been named "Media Sponsor" of CloudEXPO | DXWorldEXPO 2018 New York, which will take place on November 11-13, 2018 in New York City, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.