Cohesity is an American developer of cloud solutions for storing, processing, analyzing and managing corporate data. The company was founded in 2013 in California. The Cohesity platform allows you to combine all the data sources of companies and create convenient solutions for their integration and analysis. Cohesity also operates in the cybersecurity segment and provides clients with data protection capabilities. The first product of the DataPlatform company was launched in 2016.
The main problem that Cohesity products solve is the poor structure of secondary data, namely, information that is not used daily, for example, backups, archives, test results, samples for research, and others. By using DataPlatform, the cost of storing secondary data for customers can be reduced by 70%, according to Cohesity. The platform integrates with cloud services from Microsoft, Google or AWS Amazon. Among the main clients of the company are NASA, Hyatt, Cisco. It is noteworthy that Cisco began to release network equipment with preinstalled Cohesity software.
Cohesity has been leading the Gartner Magic Quadrant for several years in a row in terms of backup and data recovery for large and medium-sized businesses. One of Cohesity's main competitors is Rubrik, a privately held data management company that is also planning an IPO soon. However, the advantage of Cohesity is the complete automation of the product, while its maintenance does not require special professional services. At the same time, the cost of Cohesity services is more competitive compared to Rubrik.
Cloud solutions are increasingly penetrating everyday life. The global cloud technology market was estimated at $ 371 billion as of 2020, but by 2025 its volume, according to analysts' forecasts, may exceed $ 800 billion. According to IDC estimates, total corporate spending in the data management market is $ 48 billion. The rapidly growing market of cloud solutions is attracting the attention of many players, therefore, there is a high level of competition in this area, which, perhaps, is the main risk for the company. The size of the cloud data management market is estimated at $ 50- $ 72 billion, and its CAGR is projected at 13.8% in 2021-2028. Thus, by 2028 the market size can reach $ 141- $ 203 billion.
Cohesity raised $ 660 million in 5 investment rounds. The last Series E round was held on April 9, 2020, during which the company was valued at $ 2.5 billion. In March this year, the cost of Cohesity increased to $ 3.7 billion. The estimate was established as part of a tender offer for shares of the company's employees in the amount of $ 145 million. Among the most famous investors in Cohesity are SoftBank Vision Fund, Sequoia Capital, DFJ Growth, Cisco.