Wishing you Happy Holidays and a Happy New Year from the Riversand team!
We are tremendously grateful to all of our customers, partners and of course our team for a prosperous and eventful 2018. We are ending our year on a high note with Gartner naming us “the” Visionary in the MDM Magic Quadrant 2018 – for the third year in a row. Grab a copy on us!
We are pleased with this recognition as we have in fact had a very forward-thinking year – 2018. During the second quarter, we formerly announced the release of our SaaS based cloud-native, digital-ready data management solutions, designed to help customers through their digital transformation efforts. We realized two years ago that something had to change in the world of master data management. Our customers weren’t satisfied with the traditional solutions available in the market and quite frankly, the solutions just weren’t good enough for a digital world. We realized we had to make a bold move to envision a new kind of data platform that was capable of handling the forces shaping our industry. So we took a leap, reimagining and re-platforming our MDM solution!
Our product vision is resonating well with the market, as this transition to a SaaS based offering fueled record growth by the third quarter, driven largely by subscription revenue. Riversand experienced 221% year-over-year growth and also realized sequential quarterly growth of 22%.
This growth comes from both new customer acquisition as well as new business with existing customers that have transitioned to our new SaaS based technology offerings. We welcomed several new customers to our family and helped loyal customers migrate to the latest release of our SaaS solution.
On the heels of this incredible YoY subscription revenue growth, our lead investor, Crestline Investors supplemented its original investment in Riversand, giving us some extra rocket fuel to further grow our team in several key areas both in Houston and Bengaluru and gear up for a robust 2019.
We also held our first ever partner and customer event in Europe, Riversand Connections. We hosted a two-day data-management symposium for partners, customers and prospects. Through a line-up of top-notch speakers, we learned new strategies and best practices and through peer interaction, attendees gained insights from other organizations facing similar challenges. With offices in both Stuttgart and London, Riversand is actively serving the European market.
It is events like this and our annual Customer Advisory Board Summit – in addition to the day to day work we do with our customers – that inform our product decisions and help us form a vision of the future of data management.
The event was such a success, we plan to host it again in 2019 – in the U.S. as well … so stay tuned.
A special thanks also to our customers, Alaina ‘Osbourn’ Reasonover from Bloomin’ Brands, Johan Ekegren from Orkla and Adrienne Williams-Simmons from Beam Suntory, for taking the stage at the Gartner Data & Analytics Summit as well as GS1 Connect events, and our many guests who presented for webinars and other publications throughout the year.
All of this, and we even managed to stay dry this year in Houston. As 2018 zooms towards a close, we welcome a world of possibilities for 2019!
The Riversand Team