Cloudant Sees Significant Customer Growth, 175 Percent Increase in Revenue
Database-as-a-service company notes 2013 milestones, including enterprise traction, Series B funding and industry accolades
Boston, MA (PRWEB) February 04, 2014
Cloudant today closed the books on a successful 2013, a year highlighted by customer base growth as well as fiscal and operational efficiency for the NoSQL database-as-a-service (DBaaS) provider. Cloudant’s steady growth was reflected in a 71 percent increase in employee base, bringing on fresh talent to advance the company’s commitment to provide expert data management to new customers and gain traction with large enterprises through new strategic partnerships with IBM SoftLayer and Rackspace.
Over the course of the year, the company crossed the 20,000-customer threshold, which included key customer wins headlined by Akamai and Fidelity Investments. The uptick in customer wins led to a 175 percent increase in year-over-year revenue.
The year was also marked by an investment of time and resources in achieving operational stability and security. That stability allowed the quality of data management and service Cloudant provides to further scale and better meet the needs of large enterprises, as evidenced by a low 8 percent customer churn rate. Cloudant’s service quality and scalability was also pronounced by the fact that the company’s Net Promoter Score (NPS, a measure of customer feedback) rose from 31 to 52.
Series B funding round
In May of 2013, Cloudant announced a $12 million round of Series B funding from Devonshire Investors, the private equity firm affiliated with Fidelity Investments; Rackspace Hosting; and Toba Capital. The fresh funding was key to achieving operational stability while continuing to grow globally.
Investment from Samsung Ventures
Samsung Venture Investment Corporation (Samsung Ventures) made a strategic investment in Cloudant in February of 2013, aimed at advancing research regarding global data distribution as well as mobile replication and synchronization.
Relocated Boston office
In order to accommodate the company’s continued growth, Cloudant’s flagship office has moved to the 12th floor of 200 State Street in downtown Boston. During the year, Cloudant also set up new offices in Bristol, UK and San Francisco, adding to the company’s substantial presence in Seattle.
Expanded board of directors with expertise in distributed systems
Mark Muehl, senior vice president of product engineering at Comcast, joined the Cloudant board in November 2013 as a non-executive director. With decades of experience designing and operating global telecommunications infrastructure for AOL and Comcast, Muehl adds an independent voice to the Cloudant board that addresses network security, large-scale engineering operations, and the market for distributed global services offerings.
Cloudant was honored as a top startup company by several cloud and greater technology authorities and organizations, including:
● Winning a Boston Business Journal Innovation All-Star Award
● Making the list of CIO’s “10 hot big data startups to watch”
● Becoming one of WiseRadar’s Hottest Startups of 2013 in the cloud computing, Big Data and database categories
● Being a finalist for the MassTLC Technology Leadership Award
● Joining Gartner Who’s Who in NoSQL DBMSs
For more information and news about Cloudant services and to see thoughts and opinions from Cloudant leadership, please visit the Cloudant blog and follow the company on Twitter @Cloudant. For a free Cloudant account, go to https://cloudant.com/sign-up to get started.
Cloudant provides the world’s first globally distributed database-as-a-service (DBaaS) for loading, storing, analyzing, and distributing operational application data for developers of large and/or fast-growing Web and mobile applications. Cloudant’s DBaaS is a managed service that helps developers eliminate the delays, costs, and distractions inherent in working with databases and their administrators, while providing unmatched scalability, availability, and performance. This capability accelerates time-to-market and time-to-innovation because it frees developers from the mechanics of data management so they can focus exclusively on creating great applications. Cloudant is privately held and backed by top-tier investors including Avalon Ventures, Devonshire Investors, the private equity firm affiliated with Fidelity Investments, In-Q-Tel, Rackspace® Hosting, Samsung Venture Investment Corporation, Toba Capital, and Y Combinator. For more information, visit https://cloudant.com
Waggener Edstrom Worldwide for Cloudant
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