According to a recent market report, the global cyber security market is expected to grow at 12% CAGR from $165.78 billion in 2021 to reach $366.1 billion by 2028. The growth is expected to be driven by the increased adoption of e-commerce platforms, the growing integration of machine learning, internet-of-things (IoT), and cloud solutions. Security player Palo Alto Networks (NYSE:PANW) recently announced its quarterly results that surpassed market expectations.
>>>Sramana Mitra: Do you charge the brands?
Haysam Ali: No, they charge me. They invest resources and we invest resources on our side to make sure that we can accomplish the integration. At the end of the day, both sides generate revenue by using the CRM.
Sramana Mitra: How many of these mom-and-pops are out there that you are selling this to?
Haysam Ali: There are more than 30,000.
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According to a recent market report, the global cloud storage market is projected to grow from $76.43 billion in 2021 to $390.33 billion in 2028, translating to an annualized growth rate of over 26% during the forecast period. Backblaze is a leading player in the market that recently went public.
>>>Sramana Mitra: Where did the inbound interest come from? What countries?
Juha Lehtonen: We currently have clients in 17 countries. We get contacts from the Baltics, UK, Switzerland, and the Middle East.
Sramana Mitra: They come to you and you sell through online touchpoints. You don’t have to go visit people.
Juha Lehtonen: Yes.
>>>Sramana Mitra: Was there any technology element to what you were providing?
Haysam Ali: Not at first. While providing consulting services, we were able to build a CRM that provides intelligence into the data that we collect for them. That was then used to get other clients. Telefonica was the main case that opened the door to Frontier. We became one of the biggest players of Frontier in the US. We won a prize on the number of quality customers. That prize led us to other customers.
>>>If you haven’t already, please study our free Bootstrapping course and the Investor Introductions page.
CEO Josh Millet had bootstrapped Criteria to almost $5 million in revenue before raising funding.
Sramana Mitra: Let’s start at the beginning of your journey. Where are you from? Where were you born and raised? What kind of background did you have?
Josh Millet: I was born in Toronto, Canada. I have dual citizenship of US and Canada. I came to the States for school 20 years ago and have been here ever since.
The global big data analytics market is expected to grow at 13% CAGR to reach $549.73 billion by 2028 from $206.95 billion in 2020. Data science and analytics platform provider Alteryx (NYSE: AYX) recently announced its fourth quarter results that continued to outpace market expectations.
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