Record Revenues, Global Expansion, Successful Acquisitions and Technology Innovation Highlight Banner Year
ROCHESTER, New York, Feb. 7, 2019 /PRNewswire/ -- Calero Software, a leading global provider of Communications and Cloud Lifecycle Management (CLM) software, announced that it achieved record revenues and growth in 2018, driven by strategic investments and expanded global reach. Calero is a portfolio company of Riverside Partners, a Boston-based private equity firm.
"2018 was a landmark year for Calero on all fronts," said Calero's President and CEO Joe Pajer. "Our investments in global expansion, technology innovation, enhanced operational capabilities, and personnel resources have propelled Calero to the forefront of the industry. As a result, many new customers, including over 15 Fortune 500 companies who became new customers in 2018, have made the decision to trust Calero with their telecom, mobility and cloud expense management needs. We are looking forward to a very strong 2019, where we will continue to accelerate our investments in new products and customer service."
Pajer added, "Calero experienced record growth in 2018, with new bookings more than doubling from 2017. This growth was largely driven by investments in expanding Calero's geographical footprint, hiring of top talent throughout the organization and industry-leading technology investments."
Calero's global expansion strategy has made several significant strides. The company acquired and successfully integrated two leading European telecom expense management providers. Calero has also invested heavily in organic growth in the region, including the hiring of its first Managing Director for EMEA. The EMEA team has already successfully deployed and supports multinational customers, and is building upon its historic success in the region with the addition of new European-based regional and global companies. Calero also launched its annual Calero World Online from London, hosting the largest audience of customers and partners to-date.
Throughout 2018, the company completed meaningful product and technology advancements to enhance clients' visibility into their telecommunications, mobility, and cloud services programs, enabling greater cost reductions while optimizing business operations. In addition, Calero integrated with additional third-party partners and solutions commonly used by its clients, allowing users to seamlessly connect with financial, HR and IT service management systems to streamline process execution.
With product enhancements and continued investment in automation and other operational capabilities, Calero continues to set a new industry standard for operational excellence, ensuring best-in-class service for its global customer base while managing billions in telecom spend and over a million mobile devices on behalf of customers.
"Calero has become the trusted industry standard because of our dedication to our customers and their success. Customers can count on us for a consistent, long term strategy centered on a single, modern software solution. We remain committed to our customers for the long term, delivering innovative solutions that help them solve many of the complex communications challenges they face today," continued Pajer.
Calero is a leading global provider of Communications and Cloud Lifecycle Management (CLM) solutions designed to turn communication data into actionable insight by simplifying the management of voice, mobile and other unified communications services and assets. With a deep commitment to innovation and customer service, Calero's CLM approach enables organizations to support the full communications lifecycle, from procurement to payment, including software and services that aid Telecom Expense Management (TEM), Managed Mobility Services (MMS) and Usage Management. Calero has thousands of customers in over 50 countries worldwide, including Fortune 2000 corporations, universities and government agencies. Calero is a portfolio company of Riverside Partners, a Boston-based private equity firm. Learn more at http://www.calero.com.
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund VI, L.P. The fund focuses on growth-oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. For more information, visit www.riversidepartners.com.
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SOURCE Calero Software