These announcements follow on the heels of a record 2010, in which DynamicOps reported 200% year-over-year revenue growth and a 115% increase in new customers, while 75% of its existing customers expanded their implementations. The company attributes this growth to tremendous demand for its private cloud automation solutions. According to IDC, the market for private cloud solutions is expected to rise from $2.6 billion in 2009 to $5.7 billion in 2014.(1) The rapid adoption of virtualization technology is driving demand for private, as well as public, cloud solutions, forcing IT organizations to reassess how they control, monitor, provision and optimize resources.
"Economic volatility combined with increasingly complex technology infrastructure have created the perfect storm for private cloud computing. After speaking with many enterprises—including DynamicOps customers that are leaders in the financial services and technology industries—we validated that DynamicOps is uniquely positioned to capitalize on the tremendous pent-up demand for more efficient provisioning and management of IT resources. We're excited to help them address this enormous opportunity," said Mark Fernandes, Managing Director of Sierra Ventures.
"DynamicOps' understanding of the challenges customers face and its ability to deliver exactly what they require is evident in the growth the company has already achieved. And by broadening its accomplished executive team with industry veterans who have helped build ground-breaking companies, we're confident that DynamicOps will realize even greater success in the coming years," said Craig Hanson, Partner, Next World Capital.
"We believe wholeheartedly that delivering products that automate private and public cloud management will help enterprises achieve the agility needed to compete and thrive. We're pleased that such well-respected investment firms have chosen to support our efforts, validating the strength of our vision, solutions and newly expanded executive team," said Rich Krueger, CEO of DynamicOps. "I'm thrilled that Les and Paul have chosen to join DynamicOps and that Mark is joining our board. Les' experience in growing and establishing market leadership for new companies, plus Paul's track record in accelerating international adoption and revenue growth, and Mark's insights from years of helping companies achieve their potential, will be invaluable as DynamicOps moves into the next phase of growth."
