Tintri, which provides flash-based and hybrid-flash array storage targeted at enterprise cloud deployments, added support for Amazon Web Services (AWS) and IBM’s Cloud Object Storage. The company is also set to include predictive analytics for compute and storage, and scale out for virtual machine (VM) deployments to its platform.
The company’s Cloud Connector platform includes the ability to abstract storage at the virtual machine (VM) and container level to and from AWS and IBM Cloud Object Storage. The abstraction involves compression, deduplication, and zero detection for virtualized and cloud workloads.
Chuck Dubuque, vice president of product marketing at Tintri, said the AWS and IBM support is designed to allow customers to use the company’s Tintri Cloud Connector in creating hybrid cloud services.
Dubuque said customers will be able to use AWS S3 and IBM Cloud storage for their virtual machine deployments. The software platform allows for a single point of management.
“A lot of the value is that we do everything at the VM level,” Dubuque said. “When we are using S3, we are very intelligent about moving the amount of data we need for a Tintri box in order to store or recover that data.”
Dubuque said Tintri went with AWS and IBM first due to customer demand.
“A lot of our customers already have Amazon and IBM accounts and resources available to use as part of their processes,” he said, adding the company was looking to add support for other cloud platforms.
The predictive analytics update takes advantage of Apache Spark, the open source Elasticsearch analytics and search tool, and machine learning in tapping real-time VM and container-level data points. Tintri can collect up to three years of historical data from millions of VMs to predict storage needs up to 18 months into the future.
“Today we have a lot of powerful stuff in our on-premise offerings,” Dubuque explained. “For every VM running in real time and historically you can see individual VM performance correlated with other metrics from the hypervisor. Since we do this at the VM level, it’s just a measurement for us.”
Scale and Agility
For its scale out product, Tintri can support up to 64 storage systems under a central management platform. This can allow customers to scale their cloud from 17 terabytes to 40 petabytes of capacity, and manage up to 480,000 VMs or containers from a single management console.
Multitenancy support now includes hard quotas to manage capacity for multiple tenants in an infrastructure-as-a-service (IaaS) model. Those quotas can cover data encryption, service assurance, and per-VM analytics for billing.
While it may sound complicated in terms of its new abilities, Dubuque said the updated platform simply makes it easier for enterprises to manage their cloud plans.
“It really allows customers to look at cloud storage in a way that they don’t have to worry about specific capacity concerns,” Dubuque said.
He did note customers needed to have an on-premise Tintri box to take advantage of the updates. Those updates are set to be available by the end of October.
IDC in a recent report found the flash-based enterprise storage segment continues to post robust growth and is driving the overall enterprise storage market. During the first quarter of the year, flash storage solutions generated $1.4 billion in revenues, which was a 75.7 percent year-over-year increase. The hybrid-flash array segment generated $2 billion in revenues accounting for 22 percent of the total enterprise storage market.
“Spending on traditional external arrays continues to slowly shrink while spending on all-flash deployments once again posted strong growth and helped to drive the overall market,” wrote Liz Conner, research manager for storage systems at IDC.
Tintri went public at the end of June, raising an estimated $50.3 million on opening day. The amount was below initial expectations as the company slashed its initial planned share price from between $10.50 to $12.50 per share, to between $7 and $8 per share due to lagging demand.
“Clearly, there was a disconnect between how much customers love Tintri and how much investors love Tintri, but I’m confident that gap will close,” Tintri CEO Ken Klein told TheStreet.
The company’s stock eventually opened at $7.12 per share, and surged as high as $12.15 per share within a few days. It has since sunk below its IPO level, trading down as low as $5.79 per share on August 10. The stock was trading at $6.13 per share early Wednesday.
As part of its IPO filing, Tintri reported recent financial performance highlighted by revenue gains alongside growing loses. The company’s revenues rose from $50 million in 2015, to more than $125 million for fiscal 2017. However, net losses also grew from $70 million to $105.3 million over the same time period.
Tintri is scheduled to announce its second fiscal quarter results on September 7.
TheStreet compared Tintri’s stock progression to that of Nutanix, which went public last September. Nutanix’s stock price rocketed from $26.50 per share at launch to as high as $46.78 the next day. The stock has been trading below its IPO price since early March.