October 09, 2008 - Sinequa Records 70 per cent Growth
Sinequa, a leading vendor of Enterprise Search, has today announced that during its fiscal year 2007/8 the company grew by 70 per cent. This is the second consecutive year that the company has grown by such a margin, demonstrating a healthy appetite among end-user organisations for its unique approach to Enterprise Search. Turnover for the year was £4.7 million, representing an increase of 60 per cent.
Forty new clients including Les Echos, Europ Assistance and Materis, have implemented the company’s Enterprise Search engine, Sinequa CS, in the last 12 months confirming the importance of Enterprise Search as a strategic business initiative. The average size of contract value rose by 50 per cent and the share of income from licenses, proof of viability and growth into an ecosystem of partners, increased to 86 per cent. In addition, rising numbers of customers who successfully deploy Sinequa CS in one department are rolling it out to other divisions of the company.
With such continuous growth, Sinequa maintains its momentum and development. As well as doubling its workforce to 45, the company has also expanded into the UK and has seen increasing traction from US based organisations, through its commitments with international partners such as salesforce.com.
President and CEO of the company, Jean Ferré, commented: "Organisations are increasingly realising the benefits that Enterprise Search can bring - from competitive advantage through to productivity gains. Our second year of substantial growth shows that organisations want what we have to offer. Our firm belief that Enterprise Search providers should differentiate themselves in ways that will have a genuine impact on the user experience, such as the relevancy of answers provided to users, ease of deployment, and security management out of the box is really resonating with customers.”
“Good governance has helped us to manage our growth sensibly and this has had a positive impact. We’re excited and upbeat about the year ahead and in particular growing our international capabilities,” concluded Ferré.
The flagship award winning platform, Sinequa CS saw its revenue increase by 35 per cent. Over the past 12 months, Sinequa was selected by KMWorld as one of "100 companies that Matter” in KM (Knowledge Management). The company also received the i-Expo Prize for the Best Knowledge Management Product and Sinequa CS was elected a 'Trend Setting Product' by KMWorld Magazine. The company is also a finalist for the prestigious BCS IT Industry Awards.
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