ROCKFORD, Ill. – (BUSINESS WIRE) – February 13, 2019 – Cleo, the global leader in ecosystem solutions, grew 45 percent year-on-year and more than doubled its cloud business year-on-year in 2018 As the market's appetite for cloud and SaaS integration, IT modernization and ecosystem activation has increased, the demand for smart integration has increased.
Proactive investment in both product and personnel is contributing, but Cleo's approach is "outside-in" in addressing critical integration challenges that are most reflected in the marketplace, resulting in a compound annual growth rate (CAGR) of 31 percent the last six years of the company lead years. A recent Cleo survey shows that 57% of companies say they are losing up to $ 500,000 in annual revenue due to inefficiencies in B2B, application and data integration with their growing ecosystems of partners, suppliers and customers.
"Today's businesses are creating inefficiencies by trying to separate B2B integration and application integration separately – but they are not separate challenges," said Mahesh Rajasekharan, CEO of Cleo. "We believe traditional approaches to managing business integration are wrong, an approach that is fully supported by the growing demand for the robust features of the Cleo Integration Cloud."
It is therefore no surprise that Cleo's growth in 2018 correlates with the launch of the Cleo Integration Cloud platform in 2017 and the focused focus on delivering improved business results through ecosystem integration. Cleo addresses an ecosystem view, understands the end-to-end business processes from the outside in, and plays with the market forces that make up the need for digital transformation. Cleo believes that organizations seeking modernization can empower themselves to shape their own futures.
Enable positive business results
Cleo now helps more than 8,000 customers in each industry to consolidate, integrate and automate business-critical data flows to consolidate their important ecosystem relationships and strengthen their businesses. The company's success in 2018 continues after six years in which the company has significantly increased sales, headcount, office locations and solutions offerings.
Highlights from the past calendar year for Cleo include:
- 45 percent Growth of subscription bookings over the previous year
- 95 percent Rate of customer renewal
- 10 percent Increase total workforce, including office extensions in London, Chicago and Bangalore (India)
- A G2 Crowd review by 4.4 5.0 for the Cleo Integration Cloud, which helped Cleo to rank "Leader" in the EDI and iPaaS technology categories and to be recognized in the G2 annual "50 Best Mid Market Products" list
- Net promoter score of 79in an industry where the average is 31
- 33 percent The annual presence of Cleo Connect, the company's annual customer event, is growing
- More than doubling the number of cloud customers from year to year
These figures not only demonstrate Cleo's strong confidence in the business as a company, but also its confidence in Cleo's ability to deliver integration solutions that meet market demands.
"Business survival, not technology, drives market demand for simpler and more comprehensive integration solutions," Rajasekharan said. "Separate API tools and B2B legacy solutions are not enough. For this reason, ecosystem integration solutions with a platform such as the Cleo Integration Cloud, which go beyond traditional capabilities and support true hybrid deployments, improve transparency of integration, and reduce complexity for multiple integration scenarios, are best accepted by the market. "
To learn more about Cleo's ecosystem integration market vision, visit www.cleo.com.
Cleo is an ecosystem software company focused on business results. It ensures that each customer's potential is achieved by providing solutions that make it easy to add value and value through the movement and integration of corporate data. With Cleo, customers gain strategic insights from the outside into the critical end-to-end business processes that occur in their ecosystems of partners and customers, marketplaces, and internal cloud and on-premise applications. Our solutions enable teams to increase business agility, accelerate onboarding, streamline critical business processes, and capture new revenue streams by redesigning and remastering their digital ecosystem with robust application, B2B, and data integration technologies. For more information, visit www.cleo.com or call +1.815.282.7695.
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