Cohesity today announced a new company valuation of $3.7 billion, which is $1.2 billion higher than its valuation less than 12 months ago. This dramatic growth in valuation continues to validate the incredible trajectory and momentum Cohesity is seeing as the modern multicloud data management company.
The valuation was established in line with a $145 million tender offer made by investors to Cohesity employees who want the option to sell a small portion of their equity for liquidity. This non-dilutive transaction was led by STEADFAST Capital Ventures and supported by a syndicate of new and existing investors, including Premji Invest.
“We are pleased to enable this liquidity opportunity for our employees,” said Mohit Aron, CEO and Founder, Cohesity. “We believe the oversubscribed, non-dilutive tender offer based upon this increased company valuation speaks volumes about Cohesity’s performance and future outlook as the leading, modern data management company.”
The valuation comes as Cohesity is reporting record-breaking results from its fiscal second-quarter ending Jan. 31, 2021. The company saw significant year-over-year (YoY) growth in annual recurring revenues (ARR), a continued surge in customer wins globally, and a rapidly increasing number of customers spending $5 million or more in total lifetime spend on Cohesity software. Cohesity also saw exceptional traction across its partner and service provider ecosystem.
Cohesity customers span a wide array of verticals including financial services, healthcare, government/ public sector, pharmaceutical, retail, technology, transportation, education, and media and entertainment. Customers include: Cisco, Northumbria Police (UK), Novartis, Proliance Surgeons, Siemens AG, SiteOne Landscape Supply, Sky Lakes Medical Center, Stockport NHS Foundation Trust, the National Aeronautics and Space Administration (NASA), the San Francisco Giants, U.S. Department of Homeland Security, and U.S. Department of Labor.