A recent report released by Markets and Markets estimates the global cloud computing spend to grow to $121.1 billion by 2015, recording a compounded annual growth rate of 26% over the period 2010 through 2015. Another report by Market Research Media expects strong growth within cloud computing to continue. The report projects a 30% annual growth rate over the five year period from 2015 with the market expected to be worth $270 billion by 2020.
On my blog, I write an interview-based series called Thought Leaders in Cloud Computing where we invite industry folks with interesting vantage points to come and share their points of view about the industry and its trends, gaps, blue sky opportunities.
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Ulf Mattsson: We’ve seen studies talking about how Big Data analytics can revolutionize the way the Internet did many years ago. I’ve seen figures saying that 63% are using it to enhance customer relationships, 58% are using these capabilities to redefine the product and product development, and 56% are using it to change their operations. These create a lot of opportunities but, at the same time, open up privacy issues. According to recent reports and studies, 51% are saying that security is the most important issue. The monetization of data and data breaches are driving the need for security. >>>
Sramana Mitra: So merchants in India can pay in Indian currency to subscribe to Bigcommerce? There is a problem in India with currency as you know.
Mitch Harper: They have to pay us in US dollars, but they can accept in their local currency.
Sramana Mitra: That’s an issue in India. A lot of people find it difficult to buy services in USD.
Ulf Mattsson: Let’s look at another interesting use case. It’s a travel product company. It’s an airline-owned company in the US that is providing ticket distribution and financial settlements for 135 airlines and 23,000 travel agents. They have more than $65 billion per year in settlement. Their primary issue was to protect sensitive customer data and payment data. It’s a challenge when you have these different varieties of data. They’re looking for a solution that can fit the requirement, be flexible, and not disrupt their business processes. They also choose this new type of protection called data tokenization. These are three interesting use cases of our technology. >>>
Sramana Mitra: By now, you are now in your Series B phase. You have already leveraged your install base from your previous company. What has been the primary customer acquisition strategy in the scaling phase? I do see you advertising a lot online.
Mitch Harper: I wouldn’t say there’s one main channel. I’m really good at optimizing – using Google AdWords, using retargeting, using content marketing through the blog and YouTube, and working with design agencies as well. We work with 2,500 >>>
Sramana Mitra: Let’s take maybe three customers from three different segments. Let’s double-click down on understanding how they’re using your technology.
Ulf Mattsson: I would like to mention that we do provide services in the architecture and data flow, which is very important to be able to find the right solution in. Let’s take a large retailer. This is a company that needed to be compliant to the payment card industry standard. It’s a $4 billion retail company operating in more than 30 States. They need to secure sensitive data in several large databases restricting access from administrators and power users. >>>
Sramana Mitra: What was your revenue level in 2010? The 9,800 customers translated into what kind of revenue level?
Mitch Harper: Our average per user back then was about $40 per month. It was somewhere around $5 million to $10 million at that time.
Sramana Mitra: What were the milestones that you set for yourself with your Series A financing?
Big Data platforms like Hortonworks and Cloudera use a third party player to address security issues. Protegrity offers one of those key building blocks of a secure Big Data platform. This interview delves into the security issues that customers are grappling with.
Sramana Mitra: Let’s start with introducing our audience to yourself as well as to Protegrity.
Ulf Mattsson: I’m the Chief Technology Officer at Protegrity. A little bit about my background, I worked for 20 years at IBM in software development and database security. I left IBM over a decade ago to design the Protegrity database security product and