Cockroach Labs Accelerates Business Growth with Global Expansion and Enterprise Customers, including Netflix, Coats Group, and Fortinet
Jason Forget joins as new President and Chief Revenue Officer to help accelerate growth on the back of significant new product capabilities
NEW YORK, March 22, 2023 /PRNewswire/ -- Cockroach Labs, maker of the leading enterprise-grade distributed SQL database, CockroachDB, accelerates their business with the hire of new President and Chief Revenue Officer Jason Forget on the back of strong customer growth, global expansion, and the continuous addition of product features built to bring even more large scale, mission-critical data to the cloud.
The database market is one of the largest and fastest-growing markets in all of software, expected to grow to $123.4b in 2026, according to IDC1. The applications being built today rely on massive and ever-growing volumes of critical data, and require both high performance and flawless consistency to meet customers' demands.
With rising complexity, data and application architects are looking for new tools to underpin their applications. "We expect a large portion of organizations to re-examine their current operational infrastructure in order to support a more global and dispersed customer base," said Matt Aslett, VP & Research Director at Ventana Research. "Over the next couple of years we will see organizations start to adopt data platforms that can span distributed architecture, this includes distributed databases like CockroachDB."
Since its founding in 2015, CockroachDB has helped the world's most innovative companies move mission-critical transactional data to the cloud. The software has developed an ardent and loyal following among leaders in the Fortune 500 by capitalizing on the failures of legacy database players and the desire to optimize deployments with a multi-cloud and multi-region strategy.
Today, the company's enterprise customers include both established leaders and innovators across industries; including two of the five largest banks in the world and fintech disruptors such as Nubank; media juggernauts Netflix and Comcast; four of the world's largest technology companies and tech innovators such as, Fortinet, LaunchDarkly, and Rubrik; and two of the top five global automakers. And customers continue to double down on CockroachDB over the past few years, with an average expansion of 139% annually across the business.
"We chose CockroachDB as the backend data store because it is designed from the ground up to be horizontally scalable," said Benson Ma, Senior Software Engineer at Netflix in a recent blog post. "Additionally, we liked that CockroachDB offers SQL capabilities to help normalize our data model for device records. This setup has allowed us to achieve fault tolerance, which is key for reliable data and scale to support an increasing amount of devices."
In addition, Cockroach Labs continues to invest in its expansion in Europe. Annual recurring revenue increased in the market by nearly 100% YoY. Building on this success, the company is now working to grow its Europe presence and support in response to the influx of interest in the market, with roles open in multiple countries. Cockroach Labs is also expanding and hiring in India with a new R&D office, and plans to expand go-to-market activities in Asia Pacific and Latin America markets later this year.
To better capitalize on and accelerate this momentum, the company has appointed Jason Forget as its new President and Chief Revenue Officer. Jason is a seasoned go-to-market leader with a track record of building high-performing, global go-to-market teams driving significant revenue growth. He was most recently at Redis where he was the first sales hire and led the growth there from zero to over 9,000 paying customers – including almost 50% of the Fortune 100. Previous to that, Jason was part of the IPO executive team at Imperva, responsible for building worldwide field operations that grew sales from $1M to $300M.
"Over the last eight years, Cockroach Labs has created a tremendous team and product, putting them at the helm of changing how organizations manage transactional data," said Jason Forget. "It's been inspiring to see how the company has fundamentally disrupted an industry that had remained unchanged for decades, and I look forward to going after the massive opportunity in front of us as a part of this team."
Product Growth and Innovation
Cockroach Labs continues to prioritize developing the best possible solution for its customers. Two of the most notable updates include the addition of distributed user-defined functions (UDFs), a top requested feature, and certification for Payment Card Industry Data Security Standard (PCI-DSS), a gold standard for platform security.
Approximately 83% of organizations worldwide store sensitive data in the cloud, making data security one of the largest risks associated with cloud adoption. With PCI-DSS certification, CockroachDB can help customers in retail, financial services, and other industries with card or payment data focus on building the next generation of applications, while trusting the distributed SQL pioneers to store and manage their data securely, reliably, and at global scale.
According to the DoorDash Engineering Blog, "To address … scalability issues we did a major overhaul of the legacy architecture and adopted CockroachDB as its new storage engine. Our team's goal was to utilize CockroachDB to build a scalable and reliable backend service that could fully support our business."
In recognition of its continued innovation, CockroachDB has been recognized two years in a row in Gartner's Magic Quadrant for cloud databases. In addition, CockroachDB has previously been inducted into the JPMorgan Chase Hall of Innovation, which recognizes companies for going above and beyond in their partnership to deliver innovative and disruptive technology.
About Cockroach Labs
Cockroach Labs is the creator of CockroachDB, the most highly evolved, cloud-native, distributed SQL database on the planet. Helping companies of all sizes — and the apps they develop — to scale fast, survive failures, and thrive everywhere. CockroachDB is in use at some of the world's largest enterprises across all industries, including some of the most recognized companies in financial services, technology, media & entertainment, and retail. Headquartered in New York City, Cockroach Labs is backed by Altimeter, Benchmark, Greenoaks, GV, Firstmark, Index Ventures, Lone Pine, Redpoint Ventures, Sequoia Capital, Tiger Global, and Workbench. For more information, please visit cockroachlabs.com.
Source: IDC, Worldwide Database Management Systems Software Forecast Update, 2022–2026: Breakout by Submarket, Doc # US49582822, Aug 2022
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SOURCE Cockroach Labs