FOSTER CITY, Calif., July 30, 2014 /PRNewswire/ -- Arena Solutions, a provider of cloud-based product lifecycle management (PLM) applications, announced that revenue grew at nearly 25 percent for Q2 2014 and year-to-date (YTD) 2014 compared to the same period in the previous year. This rate of growth is more than four times faster than the rate of growth for PLM market as a whole.
Continued PLM innovation that enables Arena customers to take full advantage of cloud synergies drove Arena's growth. Arena's continued engineering investment in broadening the solution's footprint resulted in Arena customers enjoying the release of five new modules within the last nine months (Quality, Exchange, Demand, Projects and API). These new modules alone accounted for 44 percent of the total annual subscriptions from new customers in Q2 2014. The value proposition was once again particularly strong in the mid-enterprise segment, with average new customer annuity deal size increasing 34 percent from Q1 2014 to Q2 2014.
New customers added in Q2 2014 include:
- Huaxia CPV Power Co. – Joint venture with three Chinese companies to create a solar power plant in Mongolia.
- Micropoint Bioscience – Developer of rapid, accurate, reliable and low cost diagnostic products at the point of care.
- Oculus VR – Develops next-generation virtual reality headsets designed for immersive gaming and was recently purchased by Facebook for $2 billion.
- Planet Labs – Designs, builds and operates a network of satellites called Doves. In January 2014, the company delivered the world's largest constellation of Earth-imaging satellites, made up of 28 Doves.
- Primus Power – Leader in distributed, cost effective energy storage for improving electric stability and security.
- Quanttus – Developer of a wearable compact device and an analytics platform that could offer useful insights and guidance for the wearer. This company was started by MIT graduates to make wearable devices for the medical field.
- Restoration Robotics – Develops and manufactures systems transforming the field of hair transplantation. This system harvests follicular units.
- Stem, Inc. – Designers of a solution that protects companies from unnecessarily high electricity costs without requiring any changes to the way they run their businesses.
- Topera – Developer of a novel 3D analysis and mapping system to assist electrophysiologists in the identification of the electrical source of complex cardiac arrhythmias.
- Xicato – Developer and manufacturer of LED modules that are functional replacements for traditional lamp technologies.
"Our investment in new product development is clearly paying off," said Craig Livingston, CEO of Arena Solutions. "And not surprisingly, given how rapidly we're growing and innovating, Arena has also grown its headcount, which is now 25 percent larger than it was at the end of last year. We expect to continue hiring at a brisk pace, and, in fact, are now looking for a new headquarters for the second time in two years to ensure we have enough space to accommodate future growth in engineering, sales and marketing."
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SOURCE Arena Solutions