That is a wrap on Q1 and a record quarter of revenue + customer growth in the history of Cortex. At CKO at the start of last year we agreed that 2023 was all about Go-to-Market fit: building a legendary team and aligning on a cohesive strategy to go capture the IDP market and deliver value for our customers. 2023 was full of learnings as we rapidly iterated across the business. Starting 2024 with a record quarter and beat validates that the investments we have been making are paying off and the market is responding. There are 2 major (albeit not surprising) observations on the IDP market that are glaring coming out of Q1: 1. This market is rapidly accelerating. Top of funnel interest in the space has now matured into RFIs, RFPs and lots of C-Suite sponsored IDP deployments. 2. Backstage backlash is real. Most of the Global 2000 and startups alike have experimented with Backstage and many now find themselves frustrated with stalled deployments, lackluster adoption and frustrated Executives wanting to see the ROI. Backstage’s portal announcement this week further muddies these waters as all of the Backstage by [company name] players now find themselves competing directly with the OSS project they pledged support to. One thing is clear: Cortex is best positioned to deliver huge value for customers as the Enterprise IDP category leader. There has never been a more exciting time to work at Cortex and we are continuing to invest and hire across the business.
That's incredible. Cortex is definitely making waves in the IDP market. Exciting times ahead Scott Mullin
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Love to see you win here, Scott Mullin.
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Awesome note Scott Mullin - Keep it going!!!! 👍
Congrats Scott and Team! Love to see it!
Scott!!!!!!
Sales Engineering Manager @ Cortex - Making developers' lives better
2moYour thoughts on the shift in the market is spot on! Companies are struggling with the DIY model, limited adoption, and delivering value of the Backstage framework!!