Splunk (SPLK) is gaining momentum with channel partners like Accenture, Optiv and SecureWare, according to CEO Doug Merritt. The comments surface as Splunk prepares to rally partners and customers at the company's .conf 2018 in early October.
Splunk's software is popular for SIEM, application management, log management and other use cases that provide visibility into IT platform performance, security and more. In its fiscal Q2 2019, revenues jumped 39 percent to $388.3 million, though the company had a GAAP operating loss of $103.9 million. Still, the results beat Wall Street's expectations.
CEO Points to Channel Partners
CEO Doug Merritt, during an earnings call last week, credited channel partners and strategic alliances for much of the momentum.
Among the recent highlights, he noted:
- Amazon signed an enterprise agreement with the company;
- Accenture expanded its use of Splunk by implementing the Phantom solution and piloting machine learning capabilities;
- Optiv made investments in the Splunk practice, and is growing five-times faster than other companies in the sector;
- SecureWare, an Australian channel partner, closed more than a dozen Splunk opportunities in the quarter; and
- Bluesify Solutions won an opportunity with a large electric utility company in Malaysia.
He also predicted more momentum for partners that embrace Phantom -- a SOAR (security, orchestration, automation and response) platform provider that Splunk acquired in February 2018. "You'll see Phantom being added to many of our partnerships," Merritt asserted.
Emerging Rival?
Overall, the company certainly has momentum. But rivals like SIEM software provider Everbeam -- which just raised $50 million -- are taking aim at the company. In fact, Exabeam claims it as a 70 percent customer win rate vs. Splunk.
Exabeam will have a chance to drive home that claim during the company's Spotlight 2018 conference in September. Splunk's own .conf2018 is a few weeks thereafter.
