Configit Powers into 2022 Following Year of Global Expansion
Configuration Lifecycle Management provider saw 42% increase in annual recurring revenue
COPENHAGEN, Denmark – Feb. 22, 2022 – Configit, the global leader in Configuration Lifecycle Management (CLM), today announced its strong global momentum in 2021, bolstered by record growth and an expansion into new markets. The company celebrated major successes in the U.S. in 2021, while also sustaining its home market in Europe and expanding its business to the Middle East and China.
Configit specializes in servicing large enterprise customers and is continuously expanding its strong customer relationships. In 2021 alone, the company acquired more than a dozen large enterprise deals. The high market demand for platform solutions for product configuration drove business deals for the company’s Configit Ace® solution, which now accounts for 80% of new deals, up from 20% in 2020.
Additionally, Configit’s growth metrics for 2021 included:
- The annual recurring revenue increased by 42% in 2021 and the number of deals exceeding $1 million increased by 50%
- The U.S. accounted for 37% of total deal volume closed, an increase from just 4% in 2020
- The number of license/subscription deals from existing customers increased 30% year over year
- The value of license/subscription deals from existing customers increased by over 112%
- Signed first customer in western Asia, Arçelik, a Turkey-based household goods company with products sold in over 145 countries
Other significant milestones in 2021 included partnerships with PwC Germany and Unity. As a member of Unity’s Verified Solutions Partner Program, Configit now delivers enhanced 3-D visualization for manufacturers of complex products.
Johan Salenstedt, CEO, Configit, said: “Configit’s growth continues to empower manufacturing companies to master the challenges of getting configurable products and services to market faster, and to sell, manufacture and service them more effectively. Configit supports customers through each stage of the product configuration process, proving the value of our solutions at every step. Our growth speaks to our commitment to fully understanding customer challenges, and we look forward to what the new year brings.”
About Configit
Configit is the global leader in Configuration Lifecycle Management (CLM) solutions and a supplier of business-critical software for the configuration of complex products. All Configit products are based on the patented Virtual Tabulation® technology, which has redefined product configuration by offering greater speed and better handling of complexity. Virtual Tabulation enables Configit to deliver powerful, easy-to-use configuration solutions to market-leading global enterprises.
Media Contact:
Corey Eldridge
Force4 Technology Communications
corey.eldridge@force4.co