Solo.io Reports Impressive Growth Statistics During First Half of 2021

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Solo.io Reports Impressive Growth Statistics During First Half of 2021

By Luke Bellos

Solo.io recently unveiled new statistics regarding company development over the course of 2021. Not only did the company notice a huge uptick in financial growth, but also reported outstanding renewal rates,  employee growth, and increased attention from Fortune 500 customers.

Solo.io is well positioned to claim a dominant stake in the emerging service mesh management market. The company has built a solid reputation within the field thanks to the recent success of open source-based solutions that include  Gloo Mesh Enterprise, Gloo Cloud, Gloo Portal. Digital and cloud services continue to rise in popularity among enterprises, and the need for application traffic management has become a necessity for simplified governance.

“A company’s customer roster tells you a lot about that organization. We’ve signed nine Fortune 500/Global 500 organizations, including two of the top five telecom companies and one of the top five software companies. The fact that we have commitments from several large, market-leading enterprises underpins our product and industry innovation,” said Idit Levine, founder and CEO, Solo.io. “We also have multiple noted Istio experts who have joined our team — including our newest addition, Neeraj Poddar. This further speaks to Solo.io’s investment in Istio as the gold standard service mesh for the modern enterprise.”

Solio.io has shared a number of noteworthy statistic that demonstrate significant business development over the last year, including:

  • 500+% quarter-over-quarter growth
  • 50% year-over-year growth in employee count
  • 95% customer renewal rate
  • 200+% net dollar growth in renewals
  • The addition of nine Fortune 500/Global 500 customers including two of the top five telecom companies, one of the top five software companies, and one of the top 10 companies in financial services, autos, and health insurance

Solio.io also revealed that Neeraj Poddar has accepted the role Director of Engineering, and will play a major role in the continued development of service mesh and API solutions for Istio environments.

“The key to building successful products based on open source technologies is rapid innovation, and the engineering team at Solo is at the center of driving innovation in the service mesh space,” said Neeraj Poddar. “I look forward to leading this high-caliber team on its mission to deliver innovative solutions that solve real-world enterprise use cases.”




Edited by Maurice Nagle

Editor, MSPToday

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