Brighton, UK – 3rd July 2024 – Hyve Managed Hosting, a global cloud hosting provider, is today announcing a period of exceptional growth as it continues to expand globally. The company’s revenue has grown by 51% over the past three years, and earlier this year, Hyve set up a U.S. hub in Austin, Texas, and a European hub in Berlin, Germany, in order to meet growing global demand for bespoke cloud services. Since then, the cloud computing company has doubled its U.S. customer base. As growth continues to accelerate, the company projects global operational growth of 50% year-on-year for the next three years – in both customers and turnover.
Gartner expects the global cloud market to grow 20.4% to total $678.8 billion in 2024, up from $563.6 billion in 2023, while predicting the cloud will have shifted from technology disruptor to business necessity by 2028. Hyve is seeing huge demand for its bespoke approach to building and maintaining cloud stacks. Buoyed by a shift in demand towards managed hybrid and multi-cloud environments, the UK-born cloud provider has onboarded 46% of its current customers since 2020, with its U.S. customer base doubling since the start of 2024.
Hyve’s global headcount has grown by 33% in the past year to accommodate an expanding customer base and streamline operations within new international hubs. The company has also made a number of strategic senior appointments to ensure continued growth is sustainable, including promoting home-grown talent Charlotte Webb to Marketing and Operations Director globally.
“The U.S. continues to prove its status as a leader when it comes to considered cloud adoption, with the market already representing a large proportion of our revenue,” said Charlotte Webb, Marketing and Operations Director. “Meanwhile, our new Berlin office helps us seamlessly and securely serve EU customers, especially paying attention to helping them navigate compliance with data sovereignty and data protection regulations.”
Growth in the AI & logistics industry and future plans
The company’s proficiency in managing cloud resources end-to-end and unique approach to building solutions tailored to each business’s needs have attracted a swathe of new customers who need help getting their cloud resources under control, especially in the U.S., where there has been particular growth in the AI and logistics industries.
For example, new U.S. generative AI customer Symbolic Mind (formerly Adam and Eva) struggled to find a provider who could build a powerful and scalable CPU server capable of hosting its powerful LLM product for a reasonable price. Hyve worked with them to propose a solution consisting of two stages of tailor-made servers, including bespoke, very high-spec server deployments with extreme processing capabilities, providing the computing power for generative AI.
“Hyve understood our unique mission to create a more transparent and accessible approach to AI and helped us come up with a hosting solution finely-tuned to our business goals to reflect this,” said Vadim Asadov, VP of Symbolic Mind. “Before our collaboration with Hyve, it seemed impossible to build the server we needed, or else the cost was prohibitive. Working with Hyve was so straightforward. The team was transparent and communicative throughout, and we were able to see and understand the whole process. I have no doubt this will be a very beneficial and long term relationship.”
“The partnership of AI & Machine Learning with cloud computing allows the opportunity to build and implement easily accessible AI solutions on a large scale. Cloud is already playing a large part in digital transformation for business, adding in AI supercharges this debate,” comments Charlotte Webb. “Cloud computing helps companies to be more agile and flexible and provides cost benefits by hosting data and applications on the cloud. Adding AI generates insights from the data. It gives intelligence to existing capabilities. This results in a powerful and unique combination that can be used as a competitive advantage.”
Hyve also continues to offer managed VMware cloud services across all business units in its global network of data centres. The company was invited to the new Broadcom Advantage Partner Program as a VMware Cloud Service Provider at the Premier Partner level earlier this year.
“We are proud to be invited to Broadcom’s new Advantage Partner Program. This collaboration enabled us to ensure the uninterrupted continuation of VMware cloud services for our customers,” says Jake Madders, Director and Co-Founder of Hyve Managed Hosting. “VMware is an industry-leading virtualisation software, and we have been using its products for years. Despite the controversy surrounding VMware’s restructuring following Broadcom’s acquisition, we continue to see high demand for VMware-powered cloud services, particularly for Private Cloud. And the demand continues to grow.”
Motivated by the successful establishment of the new global hubs, Hyve is looking to capitalise on its growth and double its headcount in the U.S. office in the next quarter alone. The company also plans to focus on teaming up with strategic channel partners to support its tailor-made approach through the next stage of its growth.
“We are investigating further opportunities for global expansion, with APAC potentially being the next target for growth. Currently, we are working on several potential high-profile projects in Australia, which could accelerate plans to establish a new hub in the region,” Jake Madders comments on the company’s future plans.
The company is also exploring the local talent pool and business practices.
