Vendavo Announces Record Growth and Customer Retention in 2021
On the heels of another volatile year in pricing, Vendavo continues to outpace the industry in growth and retention.
Vendavo, the global market leader in AI-enabled SaaS price optimization and CPQ solutions, today announced that it experienced record growth and client software retention in a volatile year. In 2021, the company achieved SaaS revenue growth of 33% and a retention rate of 97%, while recording its 22nd consecutive quarter of profitability. The company also achieved an average of $19.1M in measured bottom-line benefits for its customers in 2021.
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In 2021 Vendavo secured a major round of strategic investment from Accel-KKR, along with a re-investment by current owner Francisco Partners. Going into 2022, with this investment, Vendavo will continue to scale product development to satisfy client demand for innovative B2B commercial solutions, fund future go-to-market strategies, and accelerate partnership and M&A opportunities.
“Vendavo maintained a 97% retention rate as our clients continue to value our innovation and exemplary client support”
Additionally, Vendavo earned numerous awards and accolades in 2021. Of note, its platform was named a technology leader in the 2021 SPARK Matrix for CPQ Technology, it was named a visionary in the Gartner® Magic Quadrant™ for Configure, Price, and Quote Application Suites and a Leader in the IDC MarketScape: Worldwide B2B-Focused Price Optimization Applications 2021 Vendor Assessment. Of note, Vendavo was also named a 100 Best Places to work in Colorado for the 3rd year in a row by Built In.
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“Vendavo maintained a 97% retention rate in 2021 as our clients continue to value our innovation and exemplary client support,” said Bruno Slosse, CEO, Vendavo. “Our 2022 mission is clear, to expand upon our B2B SaaS offerings that will help our customers continue to achieve industry-leading ROI and outstanding bottom-line benefits.”
Vendavo expanded its global footprint with the addition of over 120 new positions in 2021 including 40 in the Czech Republic and anticipates increasing the total number of employees by 20% in 2022. As part of its community support initiatives, Vendavo donated to the Boulder Wildfire Fund and Food for Thought Denver.
