Vendavo, a leading provider of commercial excellence solutions, today announced a record-setting sales quarter to kick off 2019. For the quarter ending March 31, 2019, the company saw 66 percent year over year (YOY) revenue growth for Vendavo SaaS solutions. Annual Contracted Revenue (ACV) was also up 56 percent (YOY) both contributing factors to the company's 55 percent YOY EBITDA growth.
These and other key company success metrics were shared this morning with the attendees of the Vendavo Business Forum and User Group Meeting being held in Chicago, IL this week.
"As organizations work to meet the rising expectations of their customers and boost their bottom lines, our solutions and expert services teams equip and empower customers to unleash their true commercial potential," Bruno Slosse, CEO, Vendavo said. "Our Q1 sales growth is reflective both of the growing need within B2B to deliver improved customer experiences and our ability to power their evolution with actionable intelligence that is a blend of expert human insight and contextual AI."
Key customer wins in Q1 include seven new large enterprise customers representing aggregate revenues of more than $80 billion with headquarters in Europe, North America and South America. Additionally, Vendavo's customer retention rate for Q1 is 100 percent for organizations that rely on SaaS solutions. The company now has more than 100 active SaaS customer accounts.
Company Expansion
To better meet the needs of their growing customer base, Vendavo moved into a new office in Dallas last month. The more modern space supports sales and service for manufacturing customers as well as Vendavo's growing Configure Price Quote (CPQ) customer base. It is located at 7 Park Central 12750 Merit Drive in Dallas, TX.
In December, Vendavo opened an additional office in Düsseldorf, Germany. The new location provides customers with valuable consulting in the implementation of strategic pricing projects and supports Vendavo sales efforts throughout the German-speaking region. It is located at Fischerstrasse 49, 40477 Düsseldorf, Germany.
Vendavo also continued to add talent in Q1, successfully onboarding nearly 20 new employees globally. Roles in technology, sales, customer success, people culture and customer operations topped the list. Talent acquisition will continue into Q2 with key roles now available in Denver, Stockholm and the Czech Republic.
About Vendavo
Vendavo powers the shift to digital business for the world's most demanding B2B companies, unlocking value, growing margin and accelerating revenue. With the Vendavo Commercial Excellence platform, companies develop dynamic customer insights and optimal pricing strategies that maximize margin, boost sales effectiveness and improve customer experience. With an annual margin improvement totaling more than $2.5 billion across companies in chemicals, distribution, high-tech and manufacturing, Vendavo delivers cutting-edge analytics and deep industry expertise that help companies stay one step ahead. Vendavo is headquartered in Denver, CO and has offices around the globe. Learn more at Vendavo.com.
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Kim Doyle
Kimberly Communications
319.389.6953
kb@kimberlycommunications.com
