Denodo Realizes Another Year of Significant Revenue Growth Fueled by New Customer Acquisition and Cloud Marketplaces MomentumOrganizations achieve faster time-to-value through logical data fabric and data mesh implementations powered by data virtualization technology
PALO ALTO, Calif., March 21, 2022 – Denodo, the leader in data management, today announced that its subscription license revenue grew more than 50 percent year-over-year, as the company moved close to becoming a 100 percent subscription-based revenue business. While new customer acquisitions and existing customer expansion remained strong and steady year-over-year, Denodo’s cloud marketplace presence encountered the fastest growth with more than 300 transactions in 2021.
Denodo customers’ positive sentiment about its product, services, and support was once again captured as part of the Gartner Peer Insights reviews and, as a result, Denodo has again been recognized as a Customer's Choice in the Gartner Peer Insights “Voice of the Customer”: Data Integration Tools, 28 January 2022. With an overall rating of 4.4 out of 5, Denodo is one of the only three Gartner® Magic Quadrant™ for Data Integration Tools Leaders to receive Customers’ Choice for 2022 and is the third highest rated data integration vendor in the report. Denodo was also positioned as a Leader for the Second Consecutive Year in the 2021 Gartner® Magic Quadrant™ for Data Integration Tools. During the same year, Denodo customers and Denodo Platform were bestowed with numerous awards and recognitions, such as TDWI Best Practices Award, Ventana Research Digital Leadership Award, and DBTA Readers' Choice Awards, to name a few.
During 2021, Denodo added important brand names to its already stellar global customer roster, including Credit Suisse, Deutsche Bank, Toyota Financial Services, Johnson & Johnson, and Goldwind. During the same period, Denodo Platform version 8, which was launched in 2020 to offer enterprises the ability to deploy enterprise grade logical data fabric, added some major capabilities including AI & Recommendations and Advanced Semantics. These new additions help enterprise data and analytics teams automate frequently used data management functions, improve collaboration between data stewards and business users, and secure data access.
The Company extended its worldwide footprint to 25 offices spanning 20 countries, including new offices in South Korea, Sweden, and Thailand. During the same year, strategic technology and consulting alliances also intensified as marked by a 56 percent increase in new signed partner agreements and significant growth within current partnerships, bringing a 192 percent increase in revenue from this important channel.
“Every company rooted in making data-driven business decisions is realizing that it is impractical to move all their data in a single repository such as a cloud data lake or cloud data warehouse,” said Angel Viña, founder and CEO of Denodo. “That is exactly why they selected Denodo Platform to build their logical data fabric to integrate, manage and deliver their enterprise data to business stakeholders. We thank our partners and customers alike for their continued support for our platform and we are looking forward to helping hundreds of new customers who are looking to make insights-driven business decisions and support their enterprise data across cloud and regional boundaries.”
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Denodo is a leader in data management. The award-winning Denodo Platform is the leading data integration, management, and delivery platform using a logical approach to enable self-service BI, data science, hybrid/multi-cloud data integration, and enterprise data services. Realizing more than 400% ROI and millions of dollars in benefits, Denodo’s customers across large enterprises and mid-market companies in 30+ industries have received payback in less than 6 months. For more information, visit www.denodo.com or call +1 877 556 2531 (US) / +44 (0) 20 7869 8053 (UK) / +65 6950 7489 (Singapore).