You’ve just joined the business, tell us how excited you are to be leading StorMagic into the future
I’m super excited to join StorMagic. It has all of the ingredients needed to yield tremendous growth.
A) solid products with unique selling propositions that solve real problems, b) a huge market – a $480B edge computing market growing at 38% CAGR, and c) marquee customers that are large and prestigious. My job is to bring strategic focus and operational excellence to the already seasoned management team to accelerate growth.
For people who are not familiar with your industry and who don’t have a technical background, can you explain in simple terms what your company does?
The cloud, in particular public cloud, seems to get all the attention these days. But there are real technical reasons that organizations still need to deploy onsite applications – like security, latency and the sheer costs and complexity of sending large amounts of data over the internet.
These onsite installations are “edge computing”. StorMagic solves customers’ problems storing, managing and using data at the edge. We have purpose-built solutions that make it easy and super inexpensive for customers to build onsite compute and storage solutions to run their edge applications, that require zero onsite IT resources.
Whether it is a 6,000 store retail outlet, an oil rig in the Gulf of Mexico, toll booths throughout the country, law enforcement body cams or border surveillance, they all require a small amount of onsite compute and storage to run their local applications – they cannot run in the cloud. Our solutions are lightweight, hardware-agnostic (software-based), easy to install, configure and maintain – purpose-built for the edge.
How much does this technology help businesses to improve their online security and protect their digital assets?
Not so applicable, in that we are more focused on customer problems storing, managing and using data at the edge. We of course have robust and proven encryption and encryption key management, but we’re not a “security” company per se. Think of us as edge data.
How has Claret Capital Partners helped StorMagic grow and develop its products?
Claret has provided foundational financing that has allowed StorMagic to scale up sales and marketing and double revenue in the past years. The support and financial backing of Claret has been instrumental in our growth trajectory.
What are you most excited about for the future of the company and how do you see the next 12 months playing out?
I’m truly excited about the real problems we are solving for customers at the edge. The success of our customers is always foremost in our mind. I’m excited to provide foundational solutions for their success and watch that translate exceptional growth for our company.