Riding The Growth Wave
Barracuda hit the $500 million billings mark in 2019 a decade-and-a-half after the company’s founding, and the cybersecurity vendor expects to reach $500 million in revenue for the first time ever this year despite the challenges presented by COVID-19, according to President and CEO BJ Jenkins.
A narrower technology focus coupled with five acquisitions over the past half-decade has propelled Barracuda to the half-billion mark, and Jenkins said Barracuda can reach $1 billion in sales in the next three-to-four years if it continues on its current growth trajectory. Investments in business systems, a strong relationship with Microsoft and the IT channel will play a key role in that growth, Jenkins said.
Lightstream has partnered with Barracuda for the past half-decade to sell web application firewalls (WAFs) and distributed firewalls and provide managed services around wide area networks (WANs) for highly-regulated industries like healthcare, financial service and manufacturing, according to Jeff Collins, chief strategy officer for the Salt Lake City-based solution provider.
Collins said Barracuda’s new SD-WAN service minimizes latency and packet delivery issues by leveraging the Azure network, making it easier to serve end users in locations like South Africa. Lightstream has already seen quite a bit of customer interest in Barracuda CloudGen WAN, and Collins said the company has about 100 customers that are looking for a transformation tool around SD-WAN.
Here’s a look at five things Barracuda plans to do in the coming years to become a $1 billion vendor.