100 Percent Increase in Annual Revenue Growth and 100 Percent Customer Retention in H1 2017 Drive Expansion of Leadership Team and Global Footprint
SANTA CLARA, California, Aug. 23, 2017 /PRNewswire/ -- Plutora, a leading provider of release, test environment and test management solutions for enterprise IT, has reported a 100 percent increase in annual revenue growth in the first half of 2017. Customers such as eBay, Verizon, and Dell have turned to Plutora to improve release management practices that can cause serious and costly bottlenecks in software development and release cycles.
To meet increasing demand and build on its leadership position, Plutora has expanded its international footprint with offices in the US, UK and Australia. Additionally, the company has added to its leadership team with the appointment of Bob Davis as CMO, Asheesh Chacko as VP of finance, Mahesh Baxi as VP of Customer Success and Simon King as VP of product.
As enterprise IT accelerates application delivery to become more agile and competitive, software delivery management is losing the battle for efficient, high quality software releases. Teams experience diminished productivity due to greater demands and lack of communication throughout the organization. Plutora enables predictable, high quality, automated enterprise software delivery through one common repository across the entire release portfolio. Effectively bridging the gaps and negating blockages, Plutora results in a decrease in software delivery delays or glitches through a single streamlined approach.
"We see organizations increasingly seeking an end to end approach to DevOps beyond narrow visibility into a portion of the deployment lifecycle," said Melinda Ballou, Research Director for IDC's Agile ALM, Quality and Portfolio Strategies Service. "From inception through to quality, Continuous Integration and software release, management across the pipeline is key."
Plutora has served over 70 Fortune 2000 companies with a positive ROI exceeding 400 percent. The success stems from the ability for Plutora to scale. The enterprise platform gives teams everything they need to manage planning, tracking and deployment of IT releases, test environments and deployment plans, including best in class test management capabilities. The Plutora solution is supporting over $3 billion worth of software releases, managing over 75,000 test environments and as many as 3,500 users within one organization.
Over the course of six months, an American wireless telecommunications leader more than doubled the rate of application release and now delivers 24 releases each year. Test environment managers handled more than double the number of changes and bookings while reducing the number of environments needed through better management.
"There's no way my team could have managed the rapid increase in release velocity without a solution to manage it all," stated the senior IT manager. By utilizing Plutora, the business had complete visibility of the end-to-end process, improved efficiency and collaboration resulting in superior releases.
"Plutora gives teams the ability to effectively communicate together and streamline release management activities from one central place," said Dalibor Siroky, co-CEO and co-founder of Plutora. "Paving the way to massive savings and increased success for companies. 71 percent of IT projects are expected to fail or be severely challenged, putting $600 billion dollars' worth of enterprise software development at risk. The status quo is no longer a viable strategy. CIOs today realize how critical digital transformation is for their bottom line. We are constantly evolving our product to ensure we meet the expanding needs that enterprise IT demands."
As part of the growth, Plutora has achieved a number of major milestones, including:
Geographic Expansion and Employee Growth: Plutora expanded its global presence by adding offices in the United States, the United Kingdom and Australia. Additionally, Plutora grew its employee count by over 50 percent and enhanced its leadership team throughout 2017.
Outstanding Business Performance: Plutora received a $13.4 million investment in December 2016 to fuel its significant customer adoption, product innovation and accelerate the growth of its already profitable business. Doubling year-on-year revenue and increasing its customer base by 100 percent, Plutora is working with major e-commerce companies, global telecommunications and some of the largest healthcare organizations in the world.
Technological Innovation: Plutora was selected as a winner of Red Herring's Top 100 North America award, one of the technology industry's most prestigious prizes.
"We like to think of ourselves as the biggest little company that nobody has ever heard of," said Bob Davis, CMO of Plutora. "We started this company five years ago, bootstrapped and armed with the desire to build the best product possible. We've secured funding to expand our reach with clients from nearly every industry and increase our presence globally. Software delivery is growing exceedingly fast and it's very expensive when you get it wrong. Plutora delivers peace of mind to CIOs. Simply put, our platform closes the loop, streamlines communication across the company and ensures a higher quality of work."
Plutora, headquartered in Santa Clara, CA is the market leader of release, test environment, and test management solutions for enterprise IT. The Plutora Platform transforms IT release processes by correlating data from existing tool-chains and automating manual processes providing a single view of releases and associated metrics, such as testing quality. Plutora benefits organizations by providing predictability in the software release process, improving speed and frequency of releases, better aligning IT software development and business strategy. For more information, visit www.plutora.com.