Arena Sees Continued Strong Growth in Second Quarter with 24% Increase in Subscription Sales
Foster City, Calif., Jul 29 - Arena Solutions, a provider of on-demand software that helps small and mid-size manufacturers manage their complex and constantly changing product record, today announced that the company saw subscription sales continue to grow in the second quarter ending June 30, 2010, with an increase of 24% over the same period one year earlier. Sales were strong among both new and existing customers, with the number of new companies choosing Arena increasing for the fourth consecutive quarter and existing customers renewing and expanding their Arena subscriptions at a net renewal rate of 120%. Helping drive the latter was a 92% retention rate, which outpaced even the company
Companies use Arena bill of materials (BOM) and change management software to centralize their product data, capture complete, accurate and up-to-date BOMs and make sure all employees, partners and suppliers have access to the latest information anytime, from anywhere in the world. Arena helps companies respond to market shifts quickly and nimbly by controlling the engineering change order (ECO) process, automatically propagating design changes to contract manufacturers and ensuring that everyone has the information they need to build the right product the first time.
The successes that Arena customers achieve—including on-time product introductions, faster design cycles and scrap and rework savings—provide companies with a nearly instant return on their Arena investment (which itself requires little upfront outlay and less than five days to get started). As in previous quarters, Arena was chosen by companies in a variety of industries, including high-tech electronics, clean technology, medical device and consumer products.
“Our investment strategy has been very focused in recent years,” said Ken Bozzini, chief financial officer of Arena Solutions. “The emphasis has been on improvements that help customers begin deriving value from Arena more quickly and easily than ever. And while our performance in the first half of 2010 clearly demonstrates the success of those efforts, we’re not stopping there. Ongoing investments in the application, the infrastructure and associated services will continue to increase the strategic value of Arena and benefit both new and existing customers.”
Among the customers who selected Arena in Q2 2010 are:
- Barco, a global technology company that designs and develops visualization solutions for a variety of markets, including medical imaging, media and entertainment, infrastructure and utilities, traffic and transportation, defense and security, education and training and corporate AV.
- Brace Audio, manufacturer of the finest touring digital wireless systems, which provide on-stage musicians with rack-mount system performance in a compact format.
- Let’s Gel, which developed the GelPro® anti-fatigue floor mat to make standing on hard flooring more comfortable and now offers a full line of the gel-based mats with a 100% gel core for kitchen and home use.
- Livescribe, provider of a low-cost mobile computing platform that includes the award-winning Pulse and Echo smartpens, dot paper, applications and more.
- Neuralieve, which is pioneering portable, non-invasive Transcranial Magnetic Stimulation (TMS) devices for treating migraine headache and other neurological conditions.
- PLLX3, a leader in advanced 3D visual experiences that has developed giant 3D LED walls and next-generation 3D capture systems for movies, television, advertising and sporting events.
- StarLeaf, a U.K. start-up that’s developing a new enterprise communications solution.
- Topcon Positioning Systems, which develops and manufactures precision positioning equipment like GPS systems, lasers, optical surveying and machine control products for the construction, surveying, agriculture, utilities and law enforcement industries.
Also in Q2 2010, Arena surpassed its 99.5% service level agreement for the 17th consecutive quarter, with 100% scheduled uptime in Q2 2010 and a continued focus on delivering the most secure and reliable collaborative BOM and change management solution available.