Quickbase Hits $200M Revenue, Demonstrating Profitability and Sustainable Growth
Growth and scale supported by bolstered industry solutions and new product offerings
Quickbase, the application platform for dynamic work, announced a financial milestone of $200M in revenue in 2022. Newly released financials indicate rapid growth, smart investments, and scalability in a volatile tech market due to macroeconomic shifts. At a time when nearly every organization is facing inefficiency and being tasked to do more with less, Quickbase is giving organizations the tools they need to see, connect and control their workflows through its customizable and scalable platform and services. Quickbase works with nearly 6,000 organizations worldwide, including the top telecommunications, healthcare, retail, manufacturing and technology companies in the Fortune 100 to help them solve their complex problems. This recent growth has been fueled by both large deals with new customers and scaled contracts with existing organizations.
“What we hear from many business leaders today is they are desperate to cut costs and work more efficiently. While the last 10 years have brought about a boom in software solutions that address specific needs, the fact is it’s created massive fragmentation where tools live on their own islands, and it’s not working,” said Quickbase CEO Ed Jennings. “The biggest opportunity for organizations to not only survive in today’s turbulent market, but thrive and grow, is to connect the tools, systems, and teams already in place. This is why more and more organizations are seeing the value of both the Quickbase platform and services.”
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Over the last year, Quickbase has accomplished noteworthy milestones, including:
- Bolstered industry solutions across construction, real estate, solar and infrastructure
- Acquired MCF Technology solutions to build out domain and services capabilities
- Enhanced platform capabilities, including predictive performance insights and optimization, new integrations and connectivity, and visual dashboards
- ARR (annual recurring revenue) of $215m with more than 57 percent coming from Enterprise customers (companies with greater than 1,000 employees)
- Exponential increase in platform traffic over the last three years
- SaaS Rule of 50 company demonstrating a balance of growth and profitability
“This financial milestone is a testament to the fact that we’ve found a critical problem facing organizations and have built a product that gets at the heart of where companies are struggling,” shared Steve Webber, Chief Financial Officer. “Quickbase gives businesses what they need to work more efficiently with the tools they already have, and this is backed by the fact that companies are continuing to invest and find value in our product.”
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Beyond its profitability, Quickbase as an organization has grown its headcount nearly 60 percent over the last three years, and has expanded its presence in Bulgaria, the UK, and India, as well as across the U.S. In addition, Quickbase has invested in several strategic leadership hires in recent years, including a new CIO Dalan Winbush, General Counsel Akin Adekeye and product management leader, Debbi Roberts to continue this momentum.
This announcement comes at a critical stage in the company’s growth and recognition. Most recently, Quickbase was named by Inc’s Best in Business and one of the best places to work in Boston. Moreover, over recent years, Quickbase has been the only company featured in three leading analyst reports including, The Forrester Wave: Collaborative Work Management Tools (Q4 2022); Gartner’s Magic Quadrant for Low Code Application Platforms for the Enterprise (Q4 2021); and The Forrester Wave: Low Code Development Platforms for Business Developers (Q4 2021). Quickbase is majority owned by Vista Equity Partners, following a 2019 deal.