New Customer Subscription Value Grew by 86 Percent, Net New Annuity Grew 134 Percent Over Same Period Last Year
FOSTER CITY, California, May 2, 2017 /PRNewswire/ -- Arena Solutions, pioneer of a cloud-based, all-in-one product development platform that unites PLM (product lifecycle management), ALM (application lifecycle management), supply chain collaboration and QMS (quality management systems), today announced that Q1 2017 was another record quarter for the company, driven by continued strong growth in both new customer acquisitions and current customer expansion.
New customer subscription value grew by 86 percent in Q1 2017 over the same period in 2016, while also besting the prior Q4 2016 record. The company additionally gained a record number of new customers — 59 percent more than it gained a year ago, with particular strength in winning larger enterprise customers. Total bookings grew 30 percent year over year, and the company's net new annuity for the quarter grew by 134 percent, an enormous testament to the rapid adoption Arena is experiencing in the marketplace.
Leading innovative industries such as high tech, medical device and consumer electronics – including 250 customers in the nascent IoT space – rely on Arena's cloud-based solution to organize the work of electrical, mechanical, firmware and software engineers. They do so not only because it's powerful, affordable, simple to deploy and easy to use, but also because it provides a unified product development platform. As a result, Arena customers get unparalleled visibility both upstream and downstream across all cross-functional stakeholders for regulatory compliance, and exacting quality precision while reducing time-to-market.
New customers in Q1 2017 include:
Advanced ION Beam Technology, Inc. is propelling the high performance devices of 28 nm logic and communications chips for the mobile world.
Bioptigen, an eye imaging medical device developer.
Dedicated Computing, a global technology company committed to solving the business problems of their customers through the design, development and deployment of innovative technology solutions for both OEMs and enterprises.
Digi International, a leading global provider of mission-critical machine-to-machine (M2M) and Internet of Things (IoT) connectivity products and services.
Fontem US, an innovative consumer goods company, developer of leading e-cigarette brand, blu, as well as a lifestyle energy brand Reon.
Proterra, a leader in the design and manufacture of zero-emission electric buses that reduce fleet operating costs and eliminate dependency on fossil-fuels.
TearScience, Inc. is dedicated to identifying, diagnosing and treating MGD, the leading cause of dry eye, with an FDA-cleared solution that restores gland function.
Tile, maker of a tiny Bluetooth tracker and easy-to-use app that helps find everyday items in seconds.
Vapotherm, the inventor of heated high flow nasal cannula therapy.
"Our customers are all innovating and producing higher quality products faster and at a lower cost than ever using our cloud-based solution," said Mike Etheridge, Arena's Vice President of Finance. "It is rewarding to see the past and ongoing investments we have made in new products, functionality, and interoperability validated in the marketplace, both by new customers and existing customers who continue to expand usage at a record pace."
About Arena Solutions Arena, the inventor of cloud PLM, provides an all-in-one product development platform that unites PLM, ALM, supply chain collaboration, and QMS for the design and manufacture of complex electronics. With Arena, electrical, mechanical, software and firmware engineers can collaborate with manufacturing and quality teams to manage their bill of materials, facilitate engineering change orders, and speed prototyping. As a result, Arena customers can better meet standards while they ensure regulatory compliance, improve training management, reduce costs, increase quality, and collapse time to market. Arena has been ranked a Top 10 PLM provider and won the coveted Design News Golden Mousetrap Award successively both in 2016 and 2017. For more information, please visit http://www.arenasolutions.com.