FOSTER CITY, Calif., Nov. 2, 2016 /PRNewswire/ -- Arena Solutions, provider of a cloud-based, all-in-one product development platform that unites PLM, supply chain collaboration, and QMS, today announced that its strong enterprise momentum continued in Q3 2016, as average new subscription size grew 21 percent over the same period in 2015.
The company's growth continues to significantly outperform the overall PLM market, with bookings growing at a double digit rate over Q3 2015. This growth has been driven not only by sales of Arena Training Management, released in June, but also by strong demand for Arena Quality, which is increasingly leading sales to larger enterprises. In addition, the company announced that it continues to see strong growth via upsells from its customer base, ending Q3 2016 with a 112 percent net retention rate. This exceptional performance was driven by rapid adoption of the Arena Training Management module and an extremely low rate of churn.
New customers signed in Q3 2016 include:
- BBPOS Limited - A leading designer, manufacturer and provider of end-to-end mobile point-of-sale solutions.
- Revolution Retail Systems - Provides automated cash management solutions.
- 10X Genomics - Makes an innovative genomics platform that dramatically upgrades the capabilities of existing sequencing technologies.
- New World Medical - Manufacturer of ophthalmic surgical devices.
- VisionGate, Inc - Inventor of a proprietary LuCED test, which is a non-invasive diagnostic test for early-stage lung cancer.
- Bioserenity - Presents the WEMU, a smart connected, smart clothing healthcare solution for the diagnosis and monitoring of epilepsy.
- Semler Scientific - An emerging medical risk-assessment company.
"This quarter, we saw a sharp uptick in the number of multi-year contracts we signed," said Craig Livingston, CEO of Arena. "This was the largest number of multi-year contracts we've secured in a single quarter in the history of the company. It reflects the high level of confidence that organizations developing complex electronics have in Arena to support them and provide a rock-solid, secure solution to overcome their product design and manufacturing challenges."
About Arena Solutions
Arena, the inventor of cloud PLM, provides an all-in-one product development platform that unites PLM, supply chain collaboration, and QMS for the design and manufacture of complex electronics. With Arena, electrical, mechanical, software and firmware engineers can collaborate with manufacturing and quality teams to manage their bill of materials, facilitate engineering change orders, and speed prototyping. As a result, Arena customers can better meet standards while they ensure regulatory compliance, improve training management, reduce costs, increase quality, and collapse time to market. Arena has been ranked a Top 10 PLM provider and won the coveted Design News Golden Mousetrap Award in 2016. For more information, please visit http://www.arenasolutions.com.
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Arena and Arena Solutions are trademarks of Arena Solutions, Inc., Reg. U.S. Pat. & Tm. Off. All rights reserved. Other product and company names are the property of their respective holders.
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LEWIS Global Communications
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SOURCE Arena Solutions