Elastic Cloud's impressive 📈 31% YoY growth, outpacing the company's other products ~3X, is a showcase of the power of strategic partnerships with hyperscalers. With Elastic's shares 2X+ in the last 12 months, CEO Ashutosh Kulkarni credits much of their success to collaborating with AWS, Microsoft Azure, and Google Cloud.
Elastic is on track to $1.25 Bn annual revenue run rate, with a suite of products that enables businesses to search, monitor, and secure large data volumes in real-time. Elastic's strategic expansion into cloud offerings, combined with their presence across all three major cloud platforms, has tapped into vast hyperscaler ecosystems and accelerated its growth.
🎯 The Power of Cloud Alliances
CEO Ash Kulkarni emphasizes the crucial role of hyperscalers in Elastic’s GTM strategy:
“On the go-to-market front, we continue to focus on our partnerships with the major cloud hyperscalers. [...] Customers are making significant multiyear commitments to our platform through these cloud marketplaces.”
Elastic’s strategic leveraging of clouds has yielded multiple notable benefits:
✔️ Co-investments and powerful technology integrations
✔️ Preferential access and relationships
✔️ Joint sales pursuits (co-sell)
The CEO elaborates on the advantages of co-selling:
“our relationship with -- with Google, with Microsoft, with AWS, they are strong and they're continuing to grow stronger. And that just means that, you know, when customers are talking to them, you know, it allows us to go and jointly with these partners and have these kinds of conversations where customers are looking to do things that are, you know, on the leading edge. And those are the relationships that we believe are really critical at this phase.”
📊 Elastic's Significant Cloud Marketplace Growth
Microsoft Azure
3000+ customers use Elastic on Azure. In 2023 Elastic won Worldwide and US Microsoft Partner of the Year Award for Commercial Marketplace.
Elastic's collaboration with MSFT began in 2017, leading to co-investments in developing Elastic as an Azure Native ISV Service. In 2020, they launched their solution on Microsoft's Commercial Marketplace, simplifying the process for customers to consume, pay for, and deploy Elastic Cloud on Azure.
Google Cloud
2,600+ customers use Elastic on Google Cloud. In 2023 Elastic won GCP Global Technology Partner of the Year
Amazon Web Services (AWS)
In 2023 Elastic won AWS US Rising Star Partner of the Year.
Elastic's presence in the AWS Marketplace is marked by significant growth in shared customer transactions, 376% YoY customer engagement, as the company continues working on AWS integrations.
💎 Elastic's CEO affirms:
“We firmly believe that our relationships with the major cloud hyperscalers will be a key factor in our success in the future. And toward that end, we are continuing to invest in these relationships.”
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