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Dropsuite paid users of global cloud software platform up 33% in three weeks

The cloud data backup platform now has more than 400,000 paid users.
hand holding electric cord to clouds
The cloud software platform supports small and medium sized businesses

Dropsuite Ltd (ASX:DSE) has seen a 33% increase in paid users for its global cloud software platform since last reporting figures in mid-June.

The growth was primarily driven by a recent partnership with a large IT service provider, as part of Dropsuite re-launching an email backup product.

Dropsuite has been engaged in an extensive marketing campaign to the partner’s existing customers, which in turn has generated an increase in users and revenue.

Strong global demand expected to continue

While the company believes that churn may be higher due to flexible ‘opt-out’ terms, and revenue per user will be lower due to special volume pricing for the provider, it is still pleased with the scale of revenue growth and healthy gross margins.

Dropsuite managing director Charif Elansari said the company’s product and geographical expansion has been a major success, which is reflected in the increase in paid users in such a short period.

Elansari said: “We continue to work on new partnerships to diversify our partnership base which further de-risks revenue streams.

“We are most encouraged by the strong global demand for our software and we expect this to continue.”

Dropsuite is a global cloud software platform enabling small and medium sized businesses in over 100 countries to backup, recover and protect their business information.

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