Boomi had only 30 employees when Dell bought it in 2010, writes @PhillyJoeD in the Inquirer. It was just a tiny outfit. I used to read about it in some blog which seemed like the only source to cover it at the time.
Dell Boomi now has over 1000 employees, almost half at its Chesterbrook HQ and its small Philly satellite office. That likely translates into revenue of more than $200 million.
Michael Dell demonstrated great insight and persistence from the start in grasping the potential of Rick Nucci’s creation and giving it plenty of runway to grow within Dell. Most huge companies crush small acquisitions, quite frankly. But Boomi has continued to prosper under Chris McNabb’s leadership. The Cloud has been key to its growth, be it linking one cloud app to another or (importantly for Boomi) cloud to legacy app.
Boomi made its second and largest acquisition, Unifi Software, last week. The Bay Area company has 78 employees. Terms weren’t disclosed. Or as Peter Key, formerly of the Business Journal, once noted, “they never are.”
Unifi specializes in discovering, cataloging and prepping a company’s data, typically the kind that is unstructured and previously not interpreted by its systems. Unify says this is often two thirds of a company’s data resources. The transformation of this data usually depends on AI.
The IPaaS (Platform as a Service) market, which is led by Dell Boomi and MuleSoft (acquired in 2018 by Salesforce for $6.5 billion) is still in a hypergrowth stage. The market is incorporating a broader range of related skills and tools into its space. At least 10 other companies are coming at Boomi and Mulesoft from different angles. Boomi is trying to lead the industry in defining the future shape of the market.
The next question may be is there a larger acquisition that Boomi should consider to further strengthen its market position?