Dropsuite announces record growth numbers on the back of cloud computing

Dropsuite ASX DSE record growth cloud computing
Dropsuite has exceeded 300,000 paid users on its cloud data backup platform.

Cloud technology company Dropsuite (ASX: DSE) has announced record performance metrics including 300,000 paid users and $3.4 million in annual revenues, adding that it has almost doubled its user base since this time last year.

Dropsuite claims to be “partner-centric company” that provides a leading cloud data backup platform for small and medium businesses with Asia in its sights as a core growth target.

Dropsuite currently builds secure, scalable and highly usable cloud backup technologies specifically for small and medium-sized businesses to facilitate stable operations and enhance their growth prospects.

Its key partners include Go Daddy, the world’s largest web hosting and internet domain provider; GMO Internet, Japan’s largest web hosting and internet domain provider and Dreamscape, Australia’s leading domain name and hosting provider.

Dropsuite announced annualised revenues of $3.4 million in May this year, in large part accrued on the back of “triple-digit growth” in its email backup service products that are “exceeding expectations” according to the cloud computing provider.

Partnering into new markets

Furthermore, Dropsuite has also just announced a new partnership with Mat Bao, a leading Vietnamese hosting provider, furthering Dropsuite’s geographic expansion in Asia.

The new partnership with Mat Bao is expected to deliver further global expansion and diversify its customer base. Mat Bao will offer its customers Dropsuite’s Backup for Websites and Office 365.

According to Dropsuite, its sharp growth in users is mostly attributed to “continued marketing campaigns from one of our new major partners”, a large IT service provider based in Asia.

“The growth in paid users clearly reflects that our go-to-market strategy of enabling our partners to easily offer secure and robust backup solution to SMEs is delivering results. We are progressing new partnership agreements and reseller opportunities with parties that recognise the need for backup solutions, and we look forward to further growth in revenue and paid users,” said Charif Elansari, Dropsuite’s managing director.

Mr Elansari also said that he expects Dropsuite to roll out its cloud-based products in other regions around the world where cloud-based technologies are rapidly being adopted.

“Our expansion into Vietnam is most pleasing, and, in the near future, we expect to secure new partnerships in Europe. Our growth strategy is now gathering real momentum,” said Mr Elansari.

Filip has written in both Australia and abroad during his career, covering everything from the global economy, politics and geopolitical issues to commodities and small cap stocks on the ASX.