Enterprise Deals Account for More than Half of New Customers in Q1 2016
FOSTER CITY, California, April 26, 2016 /PRNewswire/ -- Arena Solutions, the pioneer of cloud-based product lifecycle management (PLM) applications, today announced highlights of the company's performance in the first quarter of 2016, the best in the company's history.
For the past two years, Arena has released innovation after innovation, including the Arena Quality, Analytics, Scribe, Projects and Demand modules. While any size company can benefit from these solutions, Arena's intense focus on developing a broader, integrated, highly advanced set of capabilities was aimed at expanding its reach deeper into larger global enterprises. In Q1 2016, the number of enterprise deals grew 53 percent from Q1 2015 to Q1 2016, and for the first time, enterprise deals accounted for more than half of new customers for the quarter.
"This quarter, Arena passed a key milestone: the majority of our new customers in Q1 were enterprise deals," said Craig Livingston, chief executive officer of Arena Solutions. "With the significant investments we've made in our solutions over the past several years, this continued uptake validates our leadership position in the PLM space. And today we provide the functionality the enterprise needs, but with the flexibility, connectivity, ease-of-use and cost-savings of the cloud. Enterprise customers are taking note."
In addition, despite IT budgets declining around the globe – Gartner analysts have been quoted saying that technology spending worldwide would shrink by half a percent in 2016 – Arena continued to see growth within its own customer base. Upsells to current customers grew by 52 percent over the same period in 2015, illustrating that demand for the expanded product footprint continues as customers delve deeper into Arena's product offering.
Additional highlights in Q1 2016 include:
- Record total bookings made Q1 2016 the best quarter in the company's history;
- Average deal size grew 59 percent over the same period in 2015; and
- New customer subscriptions plus existing customer upsells led to 31 percent category growth over Q1 2015.
New customers in Q1 2016 include:
- IntraOp Medical Corporation: The pioneer in portable electron-beam Intraoperative Radiation Therapy (IORT).
- HiQ Solar: Innovates in the area of solar power and renewable energy.
- Microvision, Inc.: The creator of PicoP® scanning technology, an ultra-miniature laser projection and imaging solution based on the laser beam scanning methodology we pioneered.
- Soloshot, Inc.: Designs and manufactures its SOLOSHOT line of robotic cameraman products and accessories.
- Vanderbilt International: A global leader in creating state-of-the-art security products and systems encompassing access control, intruder detection, CCTV and integrated security management.
- Fluidic Energy: Delivering a revolutionary sustainable energy storage solution to support critical loads and backup power applications worldwide.
"We are seeing strength on the enterprise side of our business due to the new enterprise-class capabilities delivered in our recent Spring release," said Steve Chalgren, executive vice president product management & chief strategy officer at Arena Solutions. "We are also looking forward to our upcoming Summer release where we will deliver a new training management solution designed to help regulated companies ensure their employees are given effective SOP training. This new solution reflects Arena's continued investment towards helping its customers better manage their QMS processes and help them maintain compliance in regulated environments such as FDA 21 CFR, ISO, OSHA, SOX and SOC."
About Arena Solutions
Arena invented cloud PLM. Its holistic suite of PLM, supply chain and QMS solutions enables innovative OEMs with complex electronics to manage their bill of materials, facilitate engineering change orders and speed prototyping to improve margins and collapse time to market. Arena has been ranked a Top 10 PLM provider and won the coveted Design News Golden Mousetrap Award in 2016. For more information, please visit http://www.arenasolutions.com.
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SOURCE Arena Solutions