TechnoBind Reports Stellar 84% Growth, Driven by 77% Surge in Security Solutions

BENGALURU, India – October 16, 2024

TechnoBind, a leading IT solutions provider, is excited to announce its outstanding growth for H1 FY24, marking an 84% increase in overall revenue compared to H1 FY23. This impressive growth is fueled by strong performances across its key business units, with the Security Business leading the charge, achieving a remarkable 77% growth. The surge is driven by the rising demand for cybersecurity solutions, spurred by heightened regulatory compliance requirements and evolving market challenges.

Security Business Unit: Leading Growth in a Challenging Landscape

TechnoBind’s Security Business has surpassed market growth by maintaining a laser-sharp focus on emerging hot-button use cases, such as cloud security, API security, and multi-cloud environments. The 77% growth of the security unit and its 46% contribution to total revenue are a testament to TechnoBind’s commitment to addressing critical cybersecurity needs in today’s digital landscape.

“This phenomenal growth is a direct reflection of our strategic focus on innovation and alignment with market needs. At TechnoBind, we don’t just follow trends; we actively shape them by staying ahead of the curve in cybersecurity, cloud, and data management. Our team’s ability to identify the right use cases, paired with our commitment to vendor and partner success, continues to drive our strong market position. We believe this momentum will only accelerate as we further expand our capabilities across new and evolving technology segments.”, said Prashanth GJ, CEO at TechnoBind.

Infrastructure and Cloud Business: AI and Smart Solutions Drive 54% Growth
TechnoBind’s Infrastructure and Cloud Business achieved a solid 54% growth, contributing 12% to total revenue. The unit’s growth was bolstered by TechnoBind’s AI-driven solutions, expansion into the service provider market, and smart solutions in data center (DC) management. This reflects TechnoBind’s ability to adapt and lead in key technology areas shaping the future of IT infrastructure.

Data Management: Steady Growth in a Data-Centric World
The Data Management (DM) Business has maintained steady growth at 28%, contributing 16% to the company’s revenue. This continued success aligns with the exponential growth of data and the increasing challenges around data management, making TechnoBind a trusted partner in helping businesses manage and leverage data effectively.

New Business Segment: A Testament to TechnoBind’s Market Strategy
“Our New Business unit’s performance reaffirms our approach to continually adding relevant technologies to our portfolio. It’s about giving our partners the tools they need to succeed in a rapidly changing market,” added Harikrishna Prabhu, COO at TechnoBind.

TechnoBind’s New Business unit, which includes key partnerships with vendors such as Vast Data and EDB, accounted for 17% of total revenue. The success of this segment is a strong endorsement of TechnoBind’s core philosophy of building and supporting go-to-market (GTM) strategies for vendor partners, helping them leverage emerging market opportunities.