Arena Solutions, 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."
