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Akorri raised more than $10 million in a new investment from Montagu Newhall Associates, according to CRN’s 2010 report. CEO Allan Wallack said the enterprise software company planned to put most of the proceeds toward sales, channel marketing and field investment, with some funding for engineering. The financing extended a channel-led push around BalancePoint, Akorri’s software for analyzing virtual and physical IT infrastructure.
What the investment was intended to fund
CRN reported that Montagu Newhall Associates was a new investor in Akorri. The investment brought the company’s reported venture funding to more than $58.5 million since its 2005 founding, according to the same account. Wallack said the new money would support the company’s sales organization, channel programs and engineering.
“We’re going to spend a good chunk of this on our sales organization,” Wallack told CRN. He also said Akorri would “build and support and continue to invest in channel marketing programs and in the field.” The stated allocation reflected a go-to-market strategy built around partners rather than a consumer product launch.
CRN’s article described the financing as more than $10 million; the headline figure is commonly rounded to $10 million. These are published contemporaneous figures, not independently verified financing or audited financial statements.
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What BalancePoint did
Akorri’s BalancePoint was virtual IT infrastructure management software. Its analytics spanned virtualization layers and technology silos, examining virtual and physical servers and storage. The point was to help IT teams understand performance and capacity across shared infrastructure rather than treat each system as an isolated island.
At the time, Wallack framed management of virtual systems in production environments as groundwork for cloud computing. “Our focus is to be a key element in the management of virtual systems and to be connected to major cloud players,” he told CRN. He also cautioned that cloud was still developing as a concept: “Even though the cloud is in its early stages, and because the definition is vague, there’s a lot of opportunity in helping define what the cloud is.” Those comments describe the market conversation circa 2010, not current product capabilities or cloud-market conditions.
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How Akorri’s channel program was structured
Akorri used PartnerPoint, a tiered partner program. In October 2009, ChannelPro described added benefits for premier members, including sales and marketing support, online education and certification, marketing resources, deal registration and margin protection. A partner quoted by ChannelPro said the education and deal-registration features helped its team explain BalancePoint to customers.
CRN’s 2010 funding story reported that PartnerPoint had grown 120 percent and added more than 30 partners over six months. It also put Akorri’s partner count at more than 100. Those figures were presented by CRN in coverage of company statements, rather than as independently audited measures.
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What the growth claims show—and do not show
Wallack told CRN that fourth-quarter 2009 revenue was up 134 percent compared with the same quarter a year earlier. This is a company-reported growth figure as carried by CRN; the available reporting does not establish it as an audited result or provide the underlying revenue amounts.
A later CRN report, published in January 2011 around NetApp’s acquisition agreement, described Akorri as having a 100-percent channel go-to-market strategy and over 60 partners, many of them also NetApp partners. That later count differs from the earlier “more than 100” figure. The reports do not explain the difference, so the numbers should be read in the context of their separate publication dates, not treated as a reconciled trend.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How the NetApp agreement changed the context
On January 12, 2011, CRN reported that NetApp had entered a definitive agreement to acquire Akorri. NetApp said it planned to add Akorri’s performance and capacity analytics for virtualized, shared IT infrastructures to its OnCommand management portfolio, and to invite Akorri partners into its partner program.
CRN said the cash deal terms were not disclosed and that closing was expected early in NetApp’s fourth fiscal quarter. The announcement set out NetApp’s intended integration and partner plans; the reporting cited here does not establish the final closing details or Akorri’s present ownership, product support or availability.
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