New Customer Subscriptions Grew 33% in Q1 2015 Compared to Same Period in 2014
Total Subscription Growth Continues at Double Digit Percentage Pace
FOSTER CITY, Calif., April 28, 2015 /PRNewswire/ -- Arena Solutions, the pioneer of cloud-based product lifecycle management (PLM), today announced that Q1 2015 broke company records again for total subscriptions, an achievement fueled in part by the largest number of new customer subscriptions in the company's history.
New customer subscriptions grew 33% in Q1 2015 over the same period in 2014. Total subscription growth also continues to be strong, increasing at a double digit pace. Nearly one-third of Arena's existing customer base added new products, new seats – or both – during Q1 2015.
To accommodate this rapid growth, Arena has increased the size of its sales organization by 85 percent in the past three months. The company also recently moved to new headquarters in Foster City, Calif.
"Over the past two years, we've introduced new modules like Demand, Scribe and Quality that have been extremely well received by our customers and, in particular, by the largest enterprise customers," said Craig Livingston, CEO of Arena. "We provide the functionality that global enterprises need in a cloud solution that's more flexible, easier to connect to suppliers and less costly."
"As a result, we're increasingly winning big deals against traditional PLM vendors, and our pipeline is growing fast – in fact, it's five times larger than it was just one year ago," Livingston added. "We continue to hire a large number of senior sales staff at a brisk pace to take full advantage of the expanding pipeline. With interest spiking in more and more verticals through the Internet of Things phenomena, the opportunity for cloud PLM is growing exponentially. There's no one better prepared to meet that demand than Arena."
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. Arena also holds a spot on National Association for Business Resources' "San Francisco's Best & Brightest Companies to Work For" List for 2014.
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SOURCE Arena Solutions