Arena's Growth Accelerated Significantly in FY 2014;
Existing Customers Fuel Record Year with a Net Retention Rate of 112 Percent
FOSTER CITY, Calif., Feb. 17, 2015 /PRNewswire/ -- Arena Solutions, the pioneer of cloud-based product lifecycle management (PLM) applications, today announced strong year-over-year growth from Q4 2013 to Q4 2014, with subscriptions increasing by 38%, capping off another record year for the company.
For the entire fiscal year 2014, new customer subscriptions grew by 76% year-over-year.
Arena's continued investment in the expansion of its product offering, especially over the past 18 months, helped drive this increase, with new deal size growing to record levels and a net retention rate for FY 2014 of 112 percent (net retention rate reflects annual customer renewals, less cancellations, plus expansion). A sampling of Arena's new products over the last 18 months includes:
- Arena DataExtract: Enables customers to extract all process data to a standard, flat file format, which can be analyzed downstream using a variety of customer analytic tools;
- Arena Scribe: Provides customers an easy-to-use collaboration platform that delivers a real-time commenting page available on any Arena Item, Change, Request, Supplier, Supplier Item, File, Project or Quality process;
- Arena Quality: Enables all stakeholders, including the extended supply chain, to participate in the quality process, which is embedded in the PLM solution and is tied directly to the product record;
- Arena Demand: Allows manufacturers to forecast visibility into their parts inventory and calculate aggregated component needs across their entire product portfolio;
- Arena Projects: Connects project schedule to product record to increase transparency and accountability for new product introductions, quality improvement processes and cost reduction projects;
- Arena API: Expands the information value chain captured in Arena PLM by allowing customers to easily integrate their enterprise application infrastructure with Arena PLM; and
- Arena Exchange: A secure, flexible and traceable environment for OEMs to collaborate with multiple users at different supplier levels throughout their global supply chain.
"We've introduced powerful new features over the past 18 months. Our record growth again confirms customer validation of Arena's expanding footprint which seamlessly integrates to enterprise business systems. Our PLM solution accelerates NPI by harnessing the collaborative efforts of internal teams and supply chains alike," said Craig Livingston, CEO of Arena. "Not too many years ago, our high value feature-set resonated best with the SMB market. Now that we're beyond feature-parity and still the most affordable, the global enterprise market is responding."
New customers in Q4 2014 include:
- 3D Robotics is the premiere advanced drone, UAV, multicopter, autopilot and autonomous vehicle control company in the world.
- Aurrion Inc. leverages the capability and low cost of silicon IC manufacturing while retaining the performance of advanced non-silicon materials to provide a bridge between traditional III-V materials used for photonics and silicon in CMOS compatible platform.
- Echelon Corporation designs control networks to connect machines and other electronic devices, for the purposes of sensing, monitoring and control.
- RPC Technologies has been the leading supplier of corrosion resistant, structural FRP (fiber reinforced plastic) fabrications, piping and ducting systems, acid resistant heavy duty linings and specialist composite products for defense.
- Turtle Beach Corporation is a technology company that develops innovative audio products for consumer and commercial markets.
About Arena Solutions
Pioneer of cloud-based PLM, Arena's suite of PLM and supply chain solutions enable engineering, manufacturing and their extended supply chains to speed prototyping, reduce scrap, streamline their supply chain, improve margins, and collapse time to market. Based in Foster City, Calif., Arena's PLM applications simplify bill of materials (BOM) and change management for organizations of all sizes, and the company has been ranked as a Top 10 PLM provider and Top 5 Supplier Collaboration solution.
To learn more about Arena Solutions:
Visit the Arena Solutions website.
Read the Arena blog on product design, development and manufacturing.
Follow @arenasolutions on Twitter.
Follow Arena on LinkedIn.
Arena and Arena Solutions are trademarks of Arena Solutions, Inc., Reg. U.S. Pat. & Tm. Off. All rights reserved. Other product and company names are the property of their respective holders.
For more information, contact:
Davies Murphy Group
Logo - http://photos.prnewswire.com/prnh/20140805/133404
SOURCE Arena Solutions