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Data protection appliance vendor Quorum enters 2014 coming off what it claims are record sales with expectations to grow more this year, a fresh $10 million funding round and a still-emerging cloud DR market in front of it. At the same time, the company is in transition as it searches for a new CEO to manage its expected expansion.
Walter Angerer, who works for one of Quorum’s venture capitalists and sits on its board, became interim CEO in November when the company announced its latest funding. He replaced Larry Lang, who served as CEO since 2010.
“As you go through growth cycles, you grow out of the startup phase and enter a growth phase,” Angerer said, explaining the reason for the CEO change. “It was appropriate for us to hand things over to new leadership to accelerate growth.”
Angerer said he hopes to find a new CEO soon. He has reason to find somebody quick. Besides his role as a venture partner with Quorum VC Toba Capital, Angerer is also founder CEO of Parsec Labs, a NAS virtualization startup preparing to roll out its first products.
Quorum has already begun revamping its executive team with the addition of VP of marketing John Gallagher and VP of products Kemal Balioglu. Gallagher has storage experience with DataDirect Networks, LSI and EMC Isilon. Like Angerer, Balioglu spent time at Symantec.
Quorum bills its onQ appliances as “one-click” backup and recovery. Customers can use an appliance on-site and replicate to a second appliance at a DR site. Or, the second appliance can be hosted by a VAR or cloud provider.
Angerer said Quorum has close to 500 customers and it has doubled its revenue every year for the past three years. He predicts that Quorum will more than double revenue this year.
“There’s a lot more awareness and appreciation of the need for DR rather than just backup,” he said.
Gallagher said it will also be an active year for product releases. “Our engineering team is quite busy,” he said. “We’ll have core technology advances late in the first half of the year, and some more technologies that will expand or market in the second half.”