ketteQ, a trail-blazing provider of supply chain planning and optimization solutions that deliver break-through levels of operational and financial performance, today announced that it has achieved a 200 percent average annual recurring revenue (ARR) growth over a three-year period.
ATLANTA, March 5, 2024 /PRNewswire-PRWeb/ -- ketteQ, a trail-blazing provider of supply chain planning and optimization solutions that deliver break-through levels of operational and financial performance, today announced that it has achieved a 200 percent average annual recurring revenue (ARR) growth over a three-year period.
As manufacturers face an uncertain economic climate amid an increasing number of supply chain disruptions, they are seeking to optimize efficiency and derive profits wherever possible. This has made the supply chain a key area of focus – and the new generation of advanced cloud-based supply chain planning solutions a logical investment. Moving beyond legacy systems, manual, disjointed planning efforts to a more seamless, dynamic and collaborative approach empowers these organizations to adapt quickly to changing market demands and increase productivity and competitiveness in an otherwise turbulent time.
That is why today's leading manufacturers continue to turn to ketteQ for its break-through supply chain planning solutions. In addition to the exceptional increase in ARR, other notable growth metrics includes:
- 97 percent gross and 118 percent net customer retention. ketteQ customers are overwhelmingly happy – and see significant financial and operational benefits – due to the company's sophisticated supply chain planning solutions and expert services which enable rapid implementations and quick time to value. This high retention rate exemplifies not only customer satisfaction, but also the innovative capabilities of the ketteQ solutions.
- New capital raise. ketteQ raised over $9M in Series A funding led by Vocap Partners and Circadian Ventures to accelerate growth and geographic expansion. The funding round also included participation from leading supply chain executives across industries.
- Expanding relationships with existing customers. ketteQ's accelerated growth is not only attributed to an increase in demand from new customers but because of ketteQ's existing customers expanding their use of the ketteQ solutions across business units and geographies.
- Increasing the partner ecosystem. ketteQ continues to grow its partner network, working with leading companies like Salesforce, Amazon Web Services (AWS) and leading supply chain consulting firms around the world. These partnerships expand ketteQ's commercial and implementation capabilities and allow customers to realize the full benefits of a new era of cloud-based supply chain planning solutions, such as real-time visibility, enhanced collaboration and scalability, rapid implementations and quick time to value.
- Growing geographically. In response to increase solution demand, broadening partner relationships and the expansion of existing customer use of ketteQ solutions, the company expanded operation to both Munich and Tokyo in 2023, providing manufacturers the ability to optimize their global supply chains more easily.
- Strengthening the Board of Directors. The company recently added supply chain innovation experts Erik Olson and Shawn Lane to its Board of Directors. Olson, of Korn Ferry, and Lane, of LivTech, bring unique experiences, skills, professional networks and blueprints of success to ketteQ, setting the foundation for the future of supply chain planning. Olson is also recently featured in 2024 Supply Chain Planning Trends.
- Forming an Executive Advisory Board. In Nov. 2023, ketteQ announced its Executive Advisory Board (EAB), comprised of top supply chain leaders and visionaries from some of the most recognized companies in the world. This group's goal is to drive continued supply chain technology innovation, excellence, and business value delivery. (To learn more about the EAB and its members, click here.)
- Enhancing the Leadership Team. Chris Amet, Gary Brooks and Gary Christian were named CTO, CMO and CFO, respectively. Both Amet, Brooks and Christian bring a significant amount of supply chain expertise to ketteQ and will continue to propel the ketteQ solutions and brand to new levels.
"I am thrilled with this phenomenal growth and am eager to make the world's supply chains better by providing break-through technology solutions and expert services to our customers," said Mike Landry, CEO of ketteQ. "As manufacturers seize the massive opportunity that supply chain planning and optimization presents, they realize the need to invest in the next generation of technologies that make this a reality. We are honored that they are turning to ketteQ – this continues to inspire us to constantly innovate and remain on the cutting-edge of technology."
To learn more about ketteQ and its supply chain planning solutions, click here.
About ketteQ
ketteQ is dedicated to supply chain technology innovation and empowering the world's leading distributors, manufacturers and service providers to achieve break-through levels of supply chain management and financial performance. Built on Salesforce and AWS, with strengths in security, scalability, and configurability, ketteQ offers supply chain organizations extended capabilities to fill in the gaps left by legacy systems with unparalleled analytics and visibility for today's supply chain needs. For further information, visit ketteQ.com or follow @ketteQ on LinkedIn.
Media Contact
Nicole Taylor, ketteQ, 1 7706331754, [email protected], www.ketteQ.com
SOURCE ketteQ
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