Meraki Continues Explosive Momentum with Record Third Quarter, Exceeds 150% Revenue Growth
SAN FRANCISCO, Oct. 23, 2012 /PRNewswire/ -- Meraki, the leader in cloud managed networking, today announced strong momentum for the third quarter of 2012, capturing over 3,000 customer wins in more than 60 countries. Fueled by robust demand for Meraki's cloud managed networking solution, third quarter revenue grew over 150% from the previous year.
"The rapid adoption of iPads and mobile devices in the enterprise, along with the adoption of BYOD environments, is causing customers to re-evaluate their network architecture," said Kiren Sekar, VP of Marketing. "Meraki's cloud managed WiFi, switching, security, and mobile device management solutions enable customers to solve new business problems while reducing operational cost."
Fast-Growing Enterprise Customer Base
With the demands placed on the network by mobile devices, web-based applications, and BYOD, enterprises of all sizes are moving to Meraki's cloud managed solution to simplify their networks. In the third quarter, Meraki won business from well over 3,000 customers including a large publicly traded event management company, a leading New York advertising agency, a fast-growing Fortune 1000 retailer, a top New York-based hedge fund, and one of Silicon Valley's fastest-growing enterprise technology companies. Meraki also saw strong growth in K-12 and higher education, service provider, and hospitality segments.
Strong Adoption of New Products
Both new and existing customers moved quickly to deploy Meraki's new technologies. Sales of Meraki's switching and security appliance product lines outpaced expectations, while adoption of Meraki's Mobile Device Management (MDM) solution continued to surge on the heels of added Android support. Air Marshal, Meraki's new wireless intrusion detection and prevention suite, accelerated adoption in security conscious retail and enterprise environments.
"Meraki's cloud-managed networking makes it easy and cost-effective for us to support an international, multi-site infrastructure from anywhere," said Jared Inchiostro, IT Manager at GoPro, makers of the HD Hero line of wearable and cameras made famous by professional athletes, consumers, and video professionals. GoPro deployed a complete cloud-managed Meraki solution, including security appliances, Ethernet switches, Wireless LAN, and mobile device management, across its California headquarters and branch locations across the US and Asia. "Meraki provides the flexibility to grow with us."
Customer Growth Supported by Growing Team and Channel
Meraki finished the third quarter with over 300 employees, adding key hires in engineering, support, sales, marketing and operations. The company also bolstered its executive management team with the additions of Todd Nightingale as VP of Strategy and Systems Architecture, and Dan Atler as Chief Financial Officer. Meraki's partner program was strengthened by the addition of highly qualified channel partners and distributors, the launch of the Certified Meraki Networking Associate (CMNA) training and certification program for channel partners worldwide.
"With a healthy balance sheet, strong cash flow, and incredible customer demand, we are seizing this opportunity to increase investment for developing new products while scaling our sales and marketing activities," said Dan Atler, Meraki's CFO.
Meraki, a leader in cloud networking, is transforming enterprise networks, enabling organizations of any size to seize new business opportunities and reduce cost. Over 10,000 customers around the world trust their networks to Meraki. A privately held company, Meraki was founded in 2006 and is funded in part by Google, Sequoia Capital, and DAG Ventures. Meraki is headquartered in San Francisco and has over 330 employees. For more information on Meraki, visit http://www.meraki.com.
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