Ocient Sees 171% Growth Demonstrating High Demand for Hyperscale Data Analytics, ELT, and Machine Learning to Power Data-Intensive Innovation and Digital Transformation
Ocient, the leading hyperscale data analytics solutions company serving organizations that derive value from analyzing massive data sets in interactive time, today announced a series of achievements marking its momentum from 2022 to the present.
The achievements include 171% year-over-year growth; recognition by leading research firms Forrester Research, Enterprise Strategy Group (ESG), Intelligent Business Strategies and Ventana Research; 1871 Momentum Award and Chicago Innovation Award wins; the promotion of Shantan Kethireddy to vice president, customer solutions and co-founder; and incorporation of in-database machine learning and new geospatial analytics functions in version 21 of its flagship product, the Ocient Hyperscale Data Warehouse.
For its customers including Basis Technologies and MediaMath, Ocient's focus on hyperscale data challenges and complex, continuous workloads has saved up to 80% over the cost of their prior solutions while simultaneously increasing performance on their workloads.
Ocient also further developed its partner relationships, including announcing the general availability (GA) of the Ocient Hyperscale Data Warehouse in the AWS Marketplace; strengthening partnerships with Google, Amdocs, Axial, Coravant, Sada, and Trace 3; adding technology partnerships and certifications with Tableau, Metabase and Superset; and expanding its government sales approach via a partnership with Carahsoft and continued partnership with In-Q-Tel to bring hyperscale data warehousing, analytics and machine learning capabilities to U.S. government organizations.
Ocient also continued its commitment to digital sustainability and carbon neutrality with carbon offsets, green data centers and employee engagement programs.
Ocient achieves 171% year-over-year growth, surpassing the company's fiscal year projections
After developing its core data engine for six years, Ocient announced the general availability of its core product, the Ocient Hyperscale Data Warhouse at version 19. Ocient's 171% growth through new and repeat customer engagements signals the demand and urgency organizations face in developing their ability to deliver data-powered products and services internally and for their customers. In a report, "Beyond Big Data: The Rise of Hyperscale," based on a May 2022 Ocient-sponsored survey of more than 500 data and technology leaders, more than 85% of C-level respondents shared this urgency by affirming there is a strong relationship between implementing faster data analytics and growing their company's bottom line.
"We're at the beginning of a paradigm shift driven by data-intensive applications, AI and machine learning, and the continuing digital transformation of entire industries and operating models. Our phenomenal growth demonstrates the pervasive need for modern data platforms that deliver new levels of price-performance at scale and validates our go-to-market approach in partnering with customers to engineer and operationalize end-to-end solutions tailored to their business requirements with proven ROI," said Ocient CEO Chris Gladwin.
Accolades from leading research firms
In addition to surpassing its projected fiscal year bookings despite uncertain economic times and industry cuts to IT spending, Ocient received accolades from influential research firms Forrester Research, Enterprise Strategy Group (ESG), Intelligent Business Strategies and Ventana Research. Forrester Research recognized Ocient as a notable vendor in a report, "The Cloud Data Warehouse Vendors Landscape, Q1 2023." In a December 2022 technical review, ESG wrote, "When performance scalability and price-performance are major considerations, Ocient appears to have over a 10x performance advantage compared to other DwaaS (data-warehouse-as-a-service) vendors." Intelligent Business Strategies profiled Ocient in a white paper, "Reducing ETL Costs and Integrating Analytical Workloads in Hyperscale Data Warehousing." In a report, "Ocient Delivers Ad Hoc Analytics on Hyperscale Workloads," Matt Aslett, research director at Ventana Research wrote, "I assert that through 2026, and despite increased demand for hybrid operational and analytic processing, more than three-quarters of data platform use cases will have functional requirements that encourage the use of specialized analytic or operational data platforms. It is for that reason that specialist database providers, including Ocient, continue to emerge with new and innovative approaches targeted at specific data-processing requirements."
1871 Momentum Award and Chicago Innovation Award wins
Ocient was also recognized by winning two awards, the 1871 Momentum Award and Chicago Innovation Award. Although a remote-first company, Ocient is headquartered in Chicago and is very active in its business and technology communities. The 1871 Momentum Award is presented to a growing company with the strongest potential to emerge as a leader in its market. The 1871 Momentum Awards honors eight distinguished innovators and leaders for their contributions to the Chicago technology community. The Chicago Innovation Awards is the largest annual celebration of new products, services and organizations across industries and sectors in the Midwest.
Promotion of Shantan Kethireddy to vice president, customer solutions and co-founder
Ocient also made an important change in its senior leadership team by promoting Shantan Kethireddy from senior director, sales engineering and solutions architecture to vice president, customer solutions and co-founder. This is Kethireddy's third promotion since he joined Ocient in 2018 from IBM, where he started his career as a lead Db2 SQL query engine developer and IBM master inventor. He was subsequently named North America chief data officer for IBM Systems Group, architecting emerging mainframe solutions that leveraged hybrid transactional and analytics processing, BI, ETL, and bi-directional replication. He authored numerous technical publications and owned the course of study at many Db2 conferences.
"I'm thrilled to lead a world-class team of database and information-integration experts at Ocient. We combine financial, technical, and business consultative best practices to prove the value of each new Ocient solution up front so customers can purchase with confidence," said Kethireddy. "Our approach is unique in that we de-risk each engagement by demonstrating clear ROI and developing an end-to-end MVP solution prior to production purchase so customers can see their workloads running smoothly during the proof-of-concept phase. We put customer success at the core of our operating model, which has continued to drive phenomenal results for our customers and our business."
Kethireddy's promotion signals Ocient's ongoing dedication to partnering closely with customers to develop and launch next-generation data analytics solutions that drive new business opportunities and transformational growth. The results of this unique go-to-market approach go beyond the typical pilot process in building an end-to-end minimum viable product (MVP) across all parts of the data path including complex database systems engineering, data integration, custom tooling and automation, custom workload development, platform migration and the retiring of legacy systems.
Customer successes with pilot-to-production approach to customer solutions
Ocient also delivered stellar results for its customers, including Basis Technologies, a leading provider of cloud-based workflow automation and business intelligence software for marketing and advertising functions within enterprises, which consolidated 10 workloads on a single cluster; and MediaMath, a leading technology pioneer which helps more than 3,500 advertisers solve complex marketing problems, where Ocient is enabling significant net new revenue opportunities and delivering unbeatable price performance for hyperscale data analytics.
Ocient's next-generation data warehouse along with its unique pilot-to-production approach to customer solutions engineering enables customers to deliver previously infeasible business results while reducing the time and cost of internal data engineering to operationalize new and innovative solutions that power business growth. Ocient's unique go-to-market approach focuses on proven methods and metrics-driven models to demonstrate ROI up front and drive customer innovation faster than any other consulting practice or services organization.
"Working with the team at Ocient to manage our hyperscale deployment ensured our team could focus on other critical areas of the business. During our peak seasons and moments, the team is on deck to ensure our critical workloads run smoothly, and they have increased our ROI with proactive recommendations and optimizations that have enhanced our system performance," said Mansoor Siddiqui, director of software engineering, and Ibai Lacunza, staff software engineer at Basis Technologies.
Three version releases of the Ocient Hyperscale Data Warehouse
Following the initial GA release of the Ocient Hyperscale Data Warehouse version 19, Ocient released two additional versions of its flagship product. New features and optimizations in version 20 include a suite of indexes, native complex data types, and the creation of data pipelines at scale to enable faster and more secure analysis of log and network data for multi-petabyte workloads. Version 21 features incorporation of in-database machine learning and new geospatial analytics functions. Ocient plans to continue the rapid evolution of its next-generation hyperscale data warehouse platform in the upcoming version 22 release planned for spring 2023.
Partnership growth fuels additional momentum for Ocient
Ocient announced the general availability of the Ocient Hyperscale Data Warehouse along with its general availability in Google Cloud Marketplace and later announced general availability in AWS Marketplace. The company strengthened partnerships with strategic resellers and technical solutions including Amdocs, Axial, Carahsoft, Coravant, Sada, Trace 3, Tableau, Metabase and Superset.
"We're thrilled to see rapid adoption of our hyperscale data analytics capabilities across a variety of industries and use cases," said Gladwin. "We look forward to continued growth as we free customers from the constraints of their existing solutions while delivering a cost structure that enables them to invest more in innovation and future growth."
Ocient is the leading hyperscale data analytics solutions company that enables organizations to unlock value by analyzing trillions of data records at performance levels and costs previously unattainable. Leading organizations around the world trust Ocient's team of industry experts to design and deploy proven complex solutions that enable and fast-track new revenue opportunities, streamline operations, and improve security on five to 10 times more data while reducing their storage footprint by up to 80%. Ocient's pilot-to-production solutions are rapidly deployed on-prem, in the OcientCloud or in the public cloud, with little to no resource-intensive integration. Ocient is a carbon-neutral company, headquartered in Chicago, and backed by leading investors including Greycroft, OCA Ventures and In-Q-Tel. For more information, please visit www.ocient.com.
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