Arena Analytics, Released in August, Helped Fuel a Record Increase of 69 Percent in Quarterly Upsells over Q3 2014 and a Net Retention Rate of 119 Percent
FOSTER CITY, Calif., Oct. 27, 2015 /PRNewswire/ -- Arena Solutions, the pioneer of cloud-based product lifecycle management (PLM) applications, today announced that the third quarter of 2015 was a record quarter for bookings revenue.
A large part of Arena's Q3 success was due to the company's strong relationships with its existing customers and the remarkable market uptake of Arena's new business intelligence module for BOMControl. More than one-third of Arena customers expanded their usage during the quarter, and upsells increased 69 percent from Q3 2014 to Q3 2015. Arena also achieved an impressive net retention rate of 119 percent for the quarter.
This success was driven in large part by strong demand for Arena Analytics, a new module released in September. Arena Analytics is a robust business intelligence solution that enables companies to gain meaningful at-a-glance visual insights into how their product-related business processes are performing, so they may take proactive action, reduce risk and eliminate problems before they arise.
Arena also won recognition from the American Business Awards for the quality of its solution, winning a Silver Stevie Award for Arena PLM in the "New Product or Service of the Year - Software - Project or Systems Management Solution" category. The American Business Awards are the nation's premier business awards program with more than 3,300 nominations submitted for consideration in a wide range of categories. This is the second consecutive year Arena has won a Stevie Award.
In addition, for the second consecutive year, Arena has been named one of the "Best and Brightest Companies to Work For" in the San Francisco Bay Area by the National Association for Business Resources (NABR). The "Best and Brightest Companies to Work For®" is a national program with annual symposium and award galas presented in Detroit, Chicago, Atlanta, Houston, Milwaukee, San Francisco, Grand Rapids and Dallas.
New customers in Q3 2015 include:
- eBay: Where the world goes to shop, sell, and give.
- Bogen Communications: A leading provider of sound systems and telephone peripherals for commercial, industrial, and institutional applications.
- Clyde Space: An award winning supplier of small and micro spacecraft systems.
- FallTech: Provides fall prevention solutions that feature advanced technical design and rigorous quality testing to save lives.
- Navdy: Provides a head-Up Display (HUD) that enables a dramatically better way to use apps in the car.
"Medical devices, high technology and consumer electronics companies have responded robustly to Arena Analytics, and it's clear why they've been so excited about this solution," said Craig Livingston, CEO of Arena Solutions. "We're giving our customers the visual ability to review the past, see the present and, as a result, change the future in their own favor. The swift adoption of this module exceeded our expectations and has helped us achieve our best quarter ever. We fully expect it will contribute to new records over the coming year."
About Arena Solutions
Pioneer of cloud-based PLM, Arena's suite of PLM and supply chain solutions enable engineering, manufacturing and their extended supply chains to speed prototyping, reduce scrap, streamline their supply chain, improve margins, and collapse time to market. Based in Foster City, Calif., Arena's PLM applications simplify bill of materials (BOM) and change management for organizations of all sizes, and the company has been ranked as a Top 10 PLM provider and Top 5 Supplier Collaboration solution. Arena also holds a spot on National Association for Business Resources' "San Francisco's Best & Brightest Companies to Work For" List for 2015. For more information, please visit: http://www.arenasolutions.com/
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SOURCE Arena Solutions