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

ROCKFORD, Ill.–(BUSINESS WIRE)–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.

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.”

For more information about Cleo’s marketplace vision for ecosystem
integration, go to www.cleo.com.

About Cleo

Cleo is an ecosystem integration software company focused on business
outcomes, ensuring each customer’s potential is realized by delivering
solutions that make it easy to discover and create value through the
movement and integration of enterprise data. Cleo gives customers a
strategic, “outside-in” visibility into the critical end-to-end business
flows happening across their ecosystems of partners and customers,
marketplaces, and internal cloud and on-premise applications. Our
solutions empower teams to drive business agility, accelerate
onboarding, facilitate modernization of key business processes, and
capture new revenue streams by reimagining and remastering their digital
ecosystem through robust application, B2B, and data integration
technologies. For more information, visit www.cleo.com
or call +1.815.282.7695.

Contacts

Media Contacts
Matt
Torman

Senior Manager, Marketing Communications
Cleo
+1.815.282.7610

Drew Smith
Senior
Account Manager
10Fold Communications
+1.415.800.5374

error: Content is protected !!