Axcient: Seeking Symantec Backup Exec Partners, VARs?
At first glance, Axcient has built its business promoting cloud backup services to MSPs. But take a closer look and it’s clear that Axcient is beginning to work more closely with VARs. What’s next? Just an educated hunch based on some news today: The VAR Guy believes Axcient is now taking aim at Symantec Backup Exec channel partners.
The official news involves Axcient raising another $15.5 million in venture capital. So how will Axcient use that money? In prepared statements, Axcient positions itself as a backup and disaster recovery alternative to Symantec Backup Exec, Network Attached Storage (NAS), and tape storage. The Axcient solution requires no upfront payments from channel partners. VARs and MSPs earn recurring revenues for everything they sell into the SMB customer base, Axcient asserts.
Axcient caught The VAR Guy’s attention earlier this year when it began to work more closely with HP’s channel partners. Now, Axcient seems to be catching on with traditional VARs as well. In a statement to MSPmentor — The VAR Guy’s sister site — Axcient CEO Justin Moore wrote:
“While the majority [of our partners] are MSPs, we’re starting to see VAR adoption accelerate dramatically. We expect our partner base to continue growing at 25 percent+ per quarter. Our partners are now generating millions [of dollars] in high-margin recurring revenue.”
Symantec Reality Check
The VAR Guy certainly is intrigued. Axcient is in growth mode. But let’s not press the panic button over at Symantec, which is set to announce quarterly results on Oct. 26. Generally speaking, Symantec has stabilized its business in recent months — though that’s certainly not an earnings forecast from The VAR Guy.
Also of note: Symantec is set to host Symantec Partner Engage — a channel partner summit — later this month in Arizona. Somewhere around that time, The VAR Guy suspects, Symantec will launch a long-awaited cloud version of Backup Exec.
In the meantime, it sounds like some storage VARs are giving Axcient a look. Will Axcient CEO Justin Moore use venture capital to accelerate that trend… globally? Hmmm… The safe bet is yes.