Looking to enhance the storage solution industry, Indian American entrepreneur Mihir Shah co-founded StorCentric as a way to create a holistic approach to data management.
Shah, 45, in addition to co-founding the company, serves as the chairman of the board and chief executive officer, as well as a board member of vertical SaaS company Enact Systems Inc.
Shah boasts that the inspiration behind StorCentric was simple.
“The market was lacking a data storage solution company with a holistic approach to data management with battle tested, high-quality solutions with a focus on customer experience,” he told India-West. “StorCentric has developed and acquired a set of solutions that fulfill the need for managing the explosive data growth and management of on-premise, cloud and hybrid storage environments.”
The company, which opened its Sunnyvale, California-based offices in 2015, and its vision took off rather quickly. Shah notes that StorCentric had “a rapid pace of acquisitions, and integration from a cultural, technological, and operational view can be a challenge.”
However, he added, “We have a team that understands our strategy and a playbook with a rigorous due diligence process to mitigate these risks.”
In addition to its headquarters in Sunnyvale, StorCentric has operations in Canada, the U.K. and India. The company has multiple product lines, including Drobo, Nexsan, Retrospect and Vexata, and has shipped over 1 million solutions.
StorCentric has won over 100 awards for technology innovation and service excellence.
“Our customers include some of the largest media and entertainment, research, financial, healthcare and government institutions in the world,” Shah added. “Applications include artificial intelligence, machine learning, big data and security against ransomware attacks.”
The Shah-led StorCentric went from a startup in 2015 and has grown revenues with a compounded annual growth rate of 67 percent over that timeframe.
It has completed four acquisitions over that time, as well, leading to the company delivering “the most comprehensive portfolio of data storage solutions,” he told India-West.
The success is in spite of well-known competition, such as from Dell EMC, NetApp, Hitachi, Pure Storage, Cohesity, Vast Data and Synology.
“StorCentric innovation is centered around customers and their specific data requirements, and delivers the highest quality solutions. Our mission is to focus on our customers and capitalize on the storage expertise we have garnered over the years by delivering a full stack of award-winning solutions,” Shah said when asked what sets his company apart from the competitors.
“StorCentric leads with its broad portfolio of storage solutions for customers who demand robust data protection, performance and manageablity. CIOs, IT Administrators, and CFOs of leading companies value the innovative technology, customer service, and return on investment of StorCentric solutions,” he added.
In terms of goals, Shah told India-West that in the short term, StorCentric will be launching several new products in the coming quarters as well as looking at new acquisitions to round out its solutions set.
“Long-term we are focused on continuing our rapid growth to deliver value to our customers, shareholders and team members,” he said. “StorCentric has a long history of technical innovation but customer centricity is and will always be our most important mission. We have a created a nimble organization that allows us to excel in all areas of the customer experience.
“We have the ability to involve senior level staff with professional expertise focused on helping customers scale their businesses while accessing, protecting and archiving critical data,” he added.
A native of Surat, India, Shah has implemented a clever acquisition strategy that identifies storage businesses with great technology but have struggled to make a lasting breakthrough.
With four acquisitions now under his belt, Shah aims to build the next world-class storage company. Shah has remained with the firm belief that there is a solution to every problem, innovating on the spot, maintaining and nurturing business relationships.
Prior to his time at StorCentric, Shah was a part of the executive leadership team at Brocade, a $4 billion networking company. While at Brocade, Shah was the managing director and VP of the Corporate Development & Strategy organization, responsible for setting the strategic direction of the company, M&A, and venture capital investments. Prior to Brocade, Mihir held senior level roles in corporate development, finance, and sales at IBM. Prior to IBM, the entrepreneur spent the early part of his career in investment banking and private equity, and has completed over 50 acquisitions and investments in his career valued at over $5 billion.
Shah has a Bachelor of Science from the University of Southern California and an MBA from the University of California, Irvine. He has also completed postgraduate programs from the University of Pennsylvania, Wharton School of Business.