Record Quarterly Revenue, New Fortune 500 Customers, Expanded Leadership and New Hires Elevate Company to New Heights
WILMINGTON, DE― February 10, 2015 ―SevOne, the only infrastructure performance monitoring (IPM) solution engineered for Speed at Scale, announced today record quarterly earnings in Q4 of 2014. The fourth quarter was SevOne’s 15th record quarter, achieving a compound annual growth rate of 88% over the last 7 years.
Highlights from 2014 include:
- Annual revenue grew to $64.5M in 2014 from $39.5M in 2013
- 283% increase in installed base revenue
- Four new leaders to the executive management team
- 68% increase in employees, bringing total employees to 404
SevOne’s rapid growth is further evidence that global enterprises and service providers are dealing with tidal waves of data that are critical to ensuring ongoing operational success. This influx of information is due to a convergence of several major industry trends impacting delivery of mission-critical services, including the explosion of mobile device adoption, cloud-based data centers, the Internet of Things (IoT), and Software Defined Networks/Network Functions Virtualization (SDN/NFV).
Legacy monitoring tools can’t keep pace with these trends and have become a choke point in service-delivery success. That’s why Gartner predicts that, “By 2018, 20% of IT operations organizations will abandon legacy monitoring tools for new monitoring architectures, up from 2% today.”1 SevOne hears these challenges every day from customers, and is uniquely engineered for Speed at Scale to provide IPM for the world’s most demanding service-delivery environments.
SevOne’s global customer base includes Telstra, Vodafone, Sberbank, NTT, KDDI, Amadeus and Lockheed Martin. Over the past year, the company added a number of new names to its growing roster of Fortune 500 customers, including:
- 100% of the Top Global Broadcast & Cable Companies
- 70% of the Top Global Investment Services Companies
- 50% of the Top Global Telecommunications Service Providers
“This past year, we saw a radical shift in the forces driving companies to monitor end-to-end infrastructure in support of mission-critical services,” noted Jack Sweeney, SevOne CEO. “Our customers and their industry peers are going through radical change, and current performance monitoring tools are holding them back as they look to decrease operating costs, reduce time-to-market and drive new revenue streams.”
In addition to the company’s financial and customer growth, SevOne acquired log analytics provider RapidEngines in 2014, and announced it surpassed 100 million objects monitored. SevOne was named to the 2015 list of Forbes’ Most Promising Companies, the 2014 Deloitte Fast 500 list, and ranked as one of the Best Places to Work in America by Glassdoor, among other accolades.
SevOne continues to rapidly expand and is estimating an additional 180-200 hires in 2015. For a full list of available job opportunities, you can visit the SevOne careers site here.
1 Gartner, Predicts 2015: IT Operations Management, Jeffrey M. Brooks, Biswajeet Mahapatra, Jonah Kowall, 26 November 2014