Cleo’s Rapid Growth Continues as Demand for Innovative Cloud and Ecosystem Integration Technology Increases
Substantial Gains in Revenue, Cloud Business Contribute to Six-Year 31% CAGR Boosted by Market Need for Modern Integrations with Today’s Evolving Ecosystems
Cleo, the global leader in ecosystem integration solutions, posted a 45 percent gain in year-over-year new subscription bookings and more than doubled its cloud business in 2018 as the market’s increasing appetite for cloud and SaaS integration, IT modernization, and ecosystem enablement have fueled demand for intelligent integration.
Cleo posts substantial gains in revenue, #cloud business amid growing market demand for modern ecosystem #integration solutions
While proactive investment in product and personnel are contributing factors, it’s Cleo’s “outside-in” approach to solving critical integration challenges that’s resonating most in the market, leading to a 31 percent Compound Annual Growth Rate (CAGR) for the company over the past six years. Underscoring this marketplace need, a recent Cleo survey shows that 57 percent of companies say they’re losing up to $500,000 in annual revenue due to inefficient B2B, application, and data integrations with their growing ecosystems of partners, suppliers, and customers.
“Businesses today are actually creating inefficiency by trying to solve B2B integration and application integration separately – but they are not separate challenges,” said Mahesh Rajasekharan, CEO of Cleo. “We believe traditional approaches to tackling business integration are wrong, a view wholly supported by the burgeoning demand for the robust capabilities delivered by Cleo Integration Cloud.”
It’s no surprise, then, that Cleo’s 2018 growth correlates with the company’s fall 2017 launch of the Cleo Integration Cloud platform and its targeted focus on delivering enhanced business outcomes through ecosystem integration. By embracing an ecosystem view, understanding their end-to-end business processes from the outside-in, and playing into the market forces that are driving the need for digital transformation, Cleo believes organizations seeking to modernize can empower themselves to shape their own futures.
Enabling Positive Business Outcomes
Cleo now helps more than 8,000 customers in every industry consolidate, integrate, and automate the mission-critical data flows driving their important ecosystem relationships and powering their businesses. The company’s 2018 success continues an accomplished six-year period in which the company has significantly grown its revenue, employee count, office locations, and solution offerings.
Highlights from the past calendar year for Cleo include:
- 45 percent year-over-year new subscription bookings growth
- 95 percent customer renewal rate
- 10 percent increase in overall headcount, including office expansions in London, Chicago, and Bangalore, India
- A G2 Crowd rating of 4.4 out of 5.0 for Cleo Integration Cloud, which helped Cleo net “Leader” ratings in the EDI and iPaaS technology categories, and gain recognition on G2’s annual “Top 50 Products for the Mid-Market” list
- Net Promoter Score of 79, in an industry where the average is 31
- 33 percent year-over-year increase in attendance at Cleo Connect, the company’s annual customer event
- More than doubling its number of cloud customers year over year
These figures not only indicate the market’s significant trust in Cleo as a company, but its trust in Cleo’s ability to deliver the integration solutions that fulfill market requirements.
“Business survival, not technology, is what’s driving the market demand for easier, more complete integration solutions,” Rajasekharan said. “Separate API tools and B2B legacy solutions are not enough. And this is why single-platform ecosystem integration solutions like Cleo Integration Cloud, which extend beyond traditional capabilities to support true hybrid deployments, improve integration visibility, and reduce complexity for multiple integration scenarios, are being best received by the marketplace.”