Splunk CEO Points to Channel Partner Program Momentum
Splunk Inc. (NASDAQ:SPLK) continues to grow rapidly, and CEO Doug Merritt says strategic partners and channel partners are contributing to that momentum.
Splunk makes a range of IT management tools that allow customers and IT service providers to analyze machine data. The net result, Splunk claims, is real-time operational intelligence that improves business and technology performance.
Splunk’s revenues were $212.8 million in Q2 2017, up 43 percent year over year. The company continues to lose money, but the results still beat Wall Street’s expectations. The company added 500 new customers during the quarter, according to Merritt, while continuing to strengthen channel relationships.
Splunk Channel Partners
Merritt has banged the drum for channel partners multiple times in recent months, pointing to relationships with Accenture, Booz and more since about May 2016.
Accenture, for instance, built a breach prevention platform that leverages Splunk Enterprise, Splunk Enterprise Security (ES), Palo Alto Networks and Tanium.
Splunk has also been building deeper strategic partnerships with both Cisco Systems and Docker. During DockerCon16, the company demonstrated how to monitor, analyze and troubleshoot Docker environments.
During the company’s earnings call, Merritt also pointed to Blackwood Associates — a channel partner that helped win a major deal with Clearbridge Investments. Clearbridge, a global equity management firm with more than $100 billion in assets, selected Splunk’s platforms for an analytics-driven approach to security, Merritt said.
Splunk for VARs, MSPs
The key takeaway for VARs and MSPs: While traditional remote monitoring and management (RMM) tools assist with PC and server optimization, Splunk’s tools assist with all sorts of application, software and machine data.
Many of those relationships will take center stage at Splunk Conference 2017, set for Sept. 26-29 in Orlando, Fla.
Still, being a fast-growth software company has its challenges. Despite the strong financial results, Splunk shares fell 4 percent because Wall Street wondered if the company could maintain its torrid growth rates.