Less than a year after going public, Informatica, a leading developer of data management, data integration and data governance software, is reporting impressive growth across a number of key performance indicators including annualized recurring revenue (ARR) and sales of cloud software.
The company’s robust performance also comes amid growing economic uncertainty, with some business leaders and economists saying the U.S. may be in a recession. CEO Amit Walia (pictured) acknowledged that uncertainty in a recent interview with CRN but maintained that Informatica’s offerings are so mission-critical for so many customers right now that there has been little impact.
“I think, definitely, customer buying cycles have been elongated. There are more reviews and scrutiny for every deal,” Walia said. “But having said that, here‘s the beauty of our business: We serve mission-critical workloads. Digital transformation is here to stay.”
Informatica, founded in 1993 and based in Redwood City, Calif., was public for many years before being taken private in a $5.3 billion deal in 2015 by the Canada Pension Plan Investment Board and private equity firm Permira. The company went public again in October 2021.
Informatica essentially re-created itself during the six years it was private, according to Walia, including completely overhauling its product line and debuting its flagship Intelligent Data Management Cloud platform. The company also has completed a transition to selling its software on a subscription basis.
The company recently reported that in its 2022 second quarter (ended June 30) total revenue reached $372 million, up nearly 9 percent year over year. That report included a number of important statistics for Informatica including 16 percent growth in total ARR to $1.4 billion, 31 percent growth in subscription ARR to $896 million, and 42 percent growth in cloud ARR to $373 million.
The company now has 175 customers with $1 million or more in subscription ARR spending, up 51 percent year over year, while its cloud platform is processing more than 38 trillion transactions per month.
Financial statistics aside, Informatica has continued to innovate around its cloud platform and CLAIRE AI engine, introducing Informatica Data Loader for Google BigQuery in May and Informatica Enterprise Data Integrator for the Snowflake Data Cloud in June.
Informatica also has been establishing strategic alliances with Microsoft and—somewhat surprisingly— longtime rival Oracle. And the company recently unveiled significant enhancements to its Global Channel Partner Program including advanced certifications to expand partner capabilities and incentives to boost partner profitability.
Here‘s a rundown of CRN’s conversation with Walia. The interview has been edited for length and clarity.
Rick Whiting has been with CRN since 2006 and is currently a feature/special projects editor. Whiting manages a number of CRN’s signature annual editorial projects including Channel Chiefs, Partner Program Guide, Big Data 100, Emerging Vendors, Tech Innovators and Products of the Year. He also covers the Big Data beat for CRN. He can be reached at [email protected].
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