LONDON, March 2, 2023 /PRNewswire/ -- DataOps.live has announced a series of impressive milestones in its journey to becoming the industry standard for "Data Products Done Right". The Data Products company has experienced a significant breakthrough in the fiscal year 2022-23, with 400%+ growth, thanks to the rising demand for DataOps products and increased market awareness. Clients are looking to deliver better insights faster while increasing the productivity of their data teams, and DataOps.live is delivering. In just 12 months, the company has scaled up rapidly, attracting top talent from around the world, investing in development, and expanded into North America.
The 2022-23 fiscal year has seen impressive financial and business growth metrics that demonstrate a strong product/market fit, and rapid business growth. These include:
- A 5x Annual Recurring Revenue (ARR) growth rate
- Net Revenue Retention (NRR) greater than 300%
- 26,000 pipeline deployments to production
- Over 1 million pipelines run using the DataOps.live SaaS platform, with more than 10 million jobs orchestrated, and over 50 million tests performed
For a more detailed review, take a look at our 10 Milestones Blog.
Product innovation: enabling no-fear enterprise data engineering at scale
In addition to the financial and market growth, DataOps.live has made significant product innovations in usability, security, and orchestration. The company's approach to "no-fear" enterprise data engineering at scale combines a new unified developer experience with the ability to perform DataOps at scale, including support for Kubernetes, Snowpark, Streamlit and much more. It has also delivered a new "safety net" for Snowflake development teams, new security measures including Single Sign-On (SSO), expanding data masking, and key-based authentication.
Over the past year DataOps.live has rapidly expanded its customer count, with more than 1/3 of customers signing six and seven figure deals. DataOps.live's customer OneWeb is a notable example. The global satellite communications provider deployed DataOps.live as part of a self-service solution that enables data discoverability for all users in an extremely complex environment, which ingests 55 billion rows every day, with 8.8. trillion rows in a single table, managing 1,000 trillion rows of data. With Data Quality as an essential requirement, DataOps.live enables more than 200 automated tests per data source. It now takes just 20 seconds to access all OneWeb data compared to several weeks previously, and only one day to analyze 1 billion records – all with the confidence the data product teams demand.
"DataOps.live has been instrumental in helping OneWeb's space data services team rise to new challenges in 2022 and prepare for significant new opportunities in 2023. We have grown an innovative data and analytics team skilled to manage unprecedented levels of new data gathered from the space domain, and have worked through geo-political events and headwinds to deliver better insights that will both drive the business forward as well as monetize data, using data products on which OneWeb and its partners increasingly depend for network performance and business success." said Miguel Morgado, Product Owner – Service and Platforms at OneWeb.
Building community - by Developers for Developers
DataOps.live scaled up its Developer Community program this past year, starting with the launch of its Developer Hub. These technical tools are augmented by a steady flow of technical content and educational tools in the form of the new 'By Engineers for Engineers' blog series and the TrueDataOps.Org web site. To further build community and share knowledge, DataOps.live launched the #TrueDataOps Podcast, hosted by 'Data Warrior' Kent Graziano. Live-streamed weekly on LinkedIn and available on demand, the podcast brings together thought leaders, innovators, and pioneering organizations working at the forefront of the #TrueDataOps revolution.
Development and maturity of the DataOps market
DataOps.live's remarkable growth has paralleled the rapid maturation of the DataOps market. A report by MarketsandMarkets published in August 2022 forecasts that the global DataOps market will grow from $4.8 billion in 2021 to $12.9 billion by 2026, at a CAGR of 21.9%. Also in December 2022, Gartner delivered its very first Market Guide for DataOps Tools, an important recognition of DataOps software as a distinct market in its own right. Two of the key findings in the report state, "Many clients tell us that a DataOps tool is becoming a necessity to reduce the use of custom solutions and manual efforts around data pipeline operations. Buyers seek DataOps tools to streamline their data operations," and that "by 2025, a data engineering team guided by DataOps practices and tools will be 10 times more productive than teams that do not use DataOps" according to Gartner Inc.
Guy Adams and Justin Mullen, co-founders of DataOps.live, are thrilled with the company's progress over the past year. "We're excited to see the growing demand for DataOps.live for the build, test and deploy of data products on Snowflake, and we are thrilled to be leading the way in this rapidly growing market. We're looking forward to continuing to innovate and work collaboratively with our customers to deliver the tools they need to succeed in a modern data-driven world," they said.