Ed Walsh: The next use-case is next-generation data protection, which results in tremendous savings just by changing the way enterprises protect their storage and make it more like what people do in a public cloud. So, not only is it saving a lot of dollars, but it is also simultaneously giving them dramatically better recovery. The third use case is for hybrid cloud. Why would enterprises want to use a hybrid cloud when they have their own private cloud? Why would they want to use and put storage out into a hybrid cloud using a piece of the public cloud? It’s not to store the data. It’s to leverage compute. Use a copy of what they have inside the four walls but spin up a thousand Hadoop nodes and use that capacity and spin it down without using it while paying only for what they have. It gives them scale and also economies closer to what people are doing in the public cloud and the flexibility to use that hybrid cloud. Last but not the least is copy data analytics. It’s trying to understand what you have from a metadata perspective both on your recovery points – what’s your availability on applications across the enterprise or cloud – and also file-level metadata, which is very rich these days. How do you leverage that for a whole bunch of different applications inside the business? That’s the company.
Sramana Mitra: I’m going to start double-clicking down on a variety of areas. Before we do that, you did say that you are a spin-off of another company. Can you elaborate a little bit? You spun out of another company and then got the Catalogic spin-off venture funded? Is that the history of the business?
Ed Walsh: Correct. We’re, in fact, doing a new round of funding. In 2014, this was a division of a company, which had an existing product that was six months away from market. The product that I just talked about is a brand new piece of software. In January 2014, we spun out the division with both the products to focus on copy data management. There’s a revenue base underneath it. The spin-off has been completed at this point. We are going to go through next generational growth funding. It’s not about the valuation. We’re actually sacrificing some of that to get the right players around the table to help us grow the business.
Sramana Mitra: What did you do with your round?
Ed Walsh: It was a spin-out. The company itself had some working capital. We did not expand dramatically.