Cloud Deployments Drive Rapid Growth Of Nuxeo In 2019
Company Currently Growing at 46 Percent Year-on-Year; 63 Percent Annual Growth in Cloud Revenue
NEW YORK, Feb. 12, 2020/PRNewswire/ -- Nuxeo, the leading cloud-native Content Services Platform (CSP), today announced 2019 revenue and growth figures that reflect the company's ongoing success in the fast-growing Content Services market, where Nuxeo continues to outpace its competitors.
In 2019, Nuxeo's revenues grew by 32 percent, with Q4 revenue growing 46 percent year-on-year, making the company one of the fastest-growing vendors in the Content Services and Enterprise Content Management (ECM) market. 2019 continued a well-established trend of rapid growth for Nuxeo and the company has achieved a sustained 40 percent compounded annual growth rate (CAGR) since taking investment from Goldman Sachs and Kennet Partners in 2016. In fact, the company has more than tripled revenues over the last four years.
In addition, customers are deploying the Nuxeo Platform via the cloud at an accelerating pace, as evidenced by a 63 percent increase in the company cloud revenues in 2019. Nuxeo Cloud now represents 32 percent of the company's total recurring revenue.
"We have a sustained, strong track record of success in the Content Services market," said Eric Barroca, CEO of Nuxeo. "The results and milestones we achieved in 2019 illustrate that we're meeting the complex information management challenges of global enterprises. We anticipate another strong year in 2020 as more enterprises continue to embrace the Nuxeo Platform to address a variety of different business needs, from modernizing large-scale legacy ECM systems for leading financial institutions to helping fashion and apparel companies to accelerate their digital supply chains and bring new products to market much more quickly."
2019 was a year of innovation for Nuxeo as the company launched two new cloud services and delivered numerous new platform features. In July, the company introduced Nuxeo Insight and became the first CSP vendor to release a fully-trainable artificial intelligence (AI) offering for content. In November, the company launched its Nuxeo Transformation service, a fully-elastic cloud service for rendering and transforming content and digital assets at extreme scale.
"We are focusing on delivering breakthrough technology to our customers," explained Barroca, "Our Nuxeo Insight service is the most advanced, trainable AI engine in the Content Services market today. It enables our customers to build custom AI models using their own content and data to deliver real, quantifiable business results, like recognizing talent and products, identifying characters and other intellectual property, and intelligently classifying documents and content -- all at an unprecedented scale and with exceptional accuracy."
2019 was another exciting year of industry accolades for Nuxeo. Nuxeo was named a "Visionary" in the Gartner 2019 Magic Quadrant for Content Services Platforms, and recognized by Forrester Research as a "Strong Performer" in the 2019 Wave for ECM Content Platforms and the 2019 Wave for Digital Asset Management. Nuxeo's Content Services Platform was the only product to be recognized in both of these Forrester reports. The company was also featured in the Forbes Best Cloud Computing Companies And CEOs To Work For and the CRN 20 Coolest Cloud Software Vendors Of The 2019 Cloud 100.
Nuxeo, developer of the leading Content Services Platform, is reinventing enterprise content management (ECM) and digital asset management (DAM). Nuxeo makes it easy to build smart content applications that enhance customer experiences, improve decision making, and accelerate products to market. Its cloud-native, low-code platform has been deployed by large enterprises worldwide. Customers like Electronic Arts, TBWA, ABN AMRO, and CVS have used Nuxeo's technology to transform the way they do business. Founded in 2008, the company is based in New York with offices across the United States, Europe, and Asia. Learn more at www.nuxeo.com.
SOURCE Nuxeo Corporation